In a statement issued to the Stock Exchanges, SKS Microfinance has announced that as per it’s notification issued on 8th November 2010, it has decided to reduce it’s effective rate of interest to 24.55 % per annum across India. The new interest rates will be effective from the 11th January 2011.
SKS Microfinance Revised Interest Rates
The applicable interest rate for all future disbursements across the country will be as tabulated below
Further, SKS Microfinance has also announced that it will not collect any charges towards Credit Shield Charge, Loan Processing Fee and Card Fee with effect from 11th January 2011.