IIFL Samasta Finance: In a financial landscape where traditional bank Fixed Deposits (FDs) are offering increased interest rates of up to 7.5%, IIFL Samasta Finance emerges as a game-changer in the investment domain. This non-banking microfinance company (NBFC-MFI) is introducing an alternative investment avenue with bonds offering a staggering 10.50% annual interest, a significant leap from conventional bank FDs.
IIFL Samasta Finance, a beacon of inclusive financing, extends affordable financial products particularly to women who are part of Joint Liability Groups. This initiative is pivotal in empowering underprivileged sections of society, including individuals from diverse socio-economic backgrounds like rural, semi-urban, and urban areas. The beneficiaries encompass a wide range of professions, from farmers and agricultural laborers to vegetable and fruit vendors, textile traders, tailors, artisans, housewives, and industrial workers. This inclusive approach underlines the company’s commitment to societal upliftment and financial inclusion.
The investment product in question is the IIFL Samasta bond, boasting a maximum coupon rate of 10.50% per annum for a period of 60 months. These Non-Convertible Debentures (NCDs) present a flexible investment period with options of 24, 36, and 60 months, catering to various investor needs. The bonds also offer flexibility in interest payment frequencies, available on both monthly and annual bases. This versatility makes them an attractive choice for investors seeking both short-term and long-term gains.
In terms of security and reliability, these bonds stand on solid ground. They have been rated CRISIL AA-/Positive by CRISIL Ratings Limited and Acuite AA Stable by Acuite Ratings & Research Limited. These ratings signify the bonds’ high security, low credit risk, and the company’s capability for timely servicing of financial obligations. The recent upgrade of IIFL Samasta’s rating from ‘Stable’ to ‘Positive’ by CRISIL this month further reinforces investor confidence.
IIFL Samasta Finance is not just stopping there. The company is ambitiously planning to raise a capital of up to ₹1,000 crore through the first public issue of these secured bonds. This move is expected to broaden the company’s ability to provide affordable financial services to its target demographic while offering investors an opportunity to partake in a high-yield, secure investment.
Defining the Key Point:
- “IIFL Samasta Finance provides affordable financial products to women who are registered as members and enrolled in Joint Liability Groups, catering to underprivileged sections of society.” – This point highlights IIFL Samasta Finance’s commitment to empowering women and underprivileged sections through affordable financial products, thereby contributing to financial inclusivity and societal upliftment.
