Like traditional financial services, microfinance companies offer an array of products like loans, spending accounts and much more. The biggest difference is that these institutions focus on delivering those offerings to low-income individuals and underserved communities. These are some of the top microfinance companies to know in India.
Top Microfinance Companies in India
- Fi
- Arohan Financial Services
- Ujjivan Small Finance Bank
- NatWest Group
- Grameen Bank
Top Microfinance Companies in India to Know
Ujjivan is a microfinance bank using technology to serve hard-to-reach populations in India. The company offers unique financial features like micro and gold loans along with more traditional banking services like savings accounts and home loans. Ujjivan also provides dedicated care for rural customers by offering unique services for that population.
Fi is a money management platform that partners with banks to provide better banking services like credit cards, spending and savings accounts. Some features include no minimum balances or account fees. Fi also includes rewards for purchases made on a spending account. Besides banking, the platform also supports investment options. Customers can purchase exchange traded funds, or ETFs, and U.S. stocks.
Arohan Financial Services is a microfinance company serving households and small businesses in India. The company’s main products are monetary loans tailored to specific populations. Its “Saral” loan is aimed at women who live in low-income areas while the “Bazaar” loan is for small businesses. Besides loans, Arohan also sells term life insurance.
Grameen Bank is an Indian bank that pioneered the microfinance movement. Since its founding, the bank has worked with underserved communities throughout the country by providing at-home and community services. It also offers no collateral loans to customers.
NatWest Group is a global financial company with offices in India. It aims to serve families and businesses using best-in-class financial services and technology by operating a group of banks headquartered in the United Kingdom as well as other international locations. These banks offer many services for businesses and individuals consumers.
