Arohan Financial lowers lending rate by 64 bps

City-based microfinance company Arohan Financial Services today announced lowering of lending rate by 64 basis points (bps) to 22.35 per cent, the company said today.
It said it has reduced the rate from 22.99 per cent for its flagship micro loan product, Saral, to 22.35 per cent.
Saral caters to socio-economically disadvantaged women.
The lower rate is effective from October 1.
"Saral currently caters to almost eight lakh women customers of Arohan who are from socio-economically disadvantaged backgrounds across the low income states of Eastern, Central and North-Eastern India, Arohan Financial managing director Manoj Nambiar said.