Our Loan Products

SONATA FINANCE has set itself a mission to "identify and motivate poor women in a cost-effective way and deliver them micro finance services in an honest, timely and efficient manner."

Our Loan Products

 

   
Loan Product Loan Amount Rate of Interest (Reducing Balance Method) Processing Fee Tenure
Joint Liability Group 10000-60000 22-23 % Below- 1% 12-24 Months
Individual Lending 25000-100000 24-25 % Below- 1% 24 Months
Utility Finance 5000-20000 22-23 % Below- 1% 6-18 Months
Sanitation Loan 20000-30000 22-23 % Below- 1% 18-24 Months
Home Improvement Loan 25000-80000 22-23 % Below- 1% 24-36 Months

Our Strategy

  • Processing Fee Charged at the time of Disbursement.
  • Penality is not charged in any case.
  • Prepayment allowed without penality.
  • Loan is without collateral.
  • Loan is repayable by weekly, fornightly & monthly installments at the choice of the borrower.
  • The Loans are sanctioned for supporting the members for undertaking Income Generating activities
  • We do not charge any type of other additional fee from clients
  • We ensure that any of the clients are not financed by more than one MFI excluding Sonata.
  • Maximum permissible net loan exposure to a client is not more than Rs 100000/-
  • Household Income criteria for Rural areas is Rs 60000/- annually & for Urban it is Rs 1,20,000/- annually respectively.
  • All the loans are mandatorily to be verified by Credit bureau before disbursement.
  • For any further information kindly contact the Toll Free No.1-800-2100102