AYE Finance or AYEFin is a lending institution that provides loans to small and micro enterprises. It provides various types of business loans to small borrowers who find it difficult to get loans from banks and NBFCs. The representative visits directly to the borrower’s place and all paperwork is done digitally. Once the loan is sanctioned, it is disbursed to the borrower’s account.
Loan
Hypothecation Loan
A hypothecation loan is a type of secured loan that uses an asset as collateral. The lender will hold the asset until the loan is paid off. An individual should be an Indian citizen aged 21-59 years and can earn up to 32% of interest rate per annum.
Quasi-Mortgage Loan
Quasi-Mortgage Loan is for borrowers who do not have the best credit score or funds to make the down payment. This loan can be availed for up to 27% of interest rate per annum. Indian citizens aged 21-59 years can avail this loan.
Mortgage Loan
A mortgage loan is a type of loan that allows the lender to take ownership of the property if the borrower fails to pay back the loan. Borrowers who want a higher loan are willing to mortgage their property. Indian citizens aged 18-59 years can earn up to 26% of interest per annum.
ECLGS
The Emergency Credit Line Guarantee Scheme is a credit scheme launched by the Government which is a collateral free loan facility. The scheme aims to provide support to micro-small medium enterprises.