The loan is raised for three years and three months tenure and benchmarked to a three-month term SOFR (Secured Overnight Financing Rate) with a margin of 2.85%. The cost comes to 9.58% a year, lower than lender's incremental cost of 10.41% for the past none months, Muthoot Microfin chief executive Sadaf Sayeed told ET.
from Banking/Finance-Industry-Economic Times https://ift.tt/ldpThX6
via IFTTT
No comments:
Post a Comment