RupeeCircle launches a zero – interest P2P loan programme ‘Sahayata’ to support alumni and corporate employees amid COVID crisis

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@ Vikas Sharma | Sr Journalist

New Delhi:In a bid to support alumni and graduating students of various IITs, IIMs and NIT and even corporate employees who are facing financial difficulties in the wake of current COVID – 19 pandemic, RupeeCircle, one of India’s fastest growing peer – to – peer (P2P) lending Company, has announced a zero – interest loan programme called ‘Sahayata’ through its online platform.

‘Sahayata’ is a quick – action oriented and short – term finance programme that will rescuemany alumni and graduating students facing financial exigencies in the midst of their careers. It will also help the working professionals who are in financial crisis due the scenarios like loss of jobs, salary cuts or job offers getting withdrawn or postponed due to the pandemic. Both the students and corporate employees can seek quick and real – time loans from an online lending platform of RupeeCircle after due compliance. As on the date, many alumni from IITs and corporate employees have already accessed the lender for financial support.

These short – terms loans will be zero – interest loans and can be offered up to the amount of Rs 5,00,000. These loans will carry a moratorium period of three to six months. Once the moratorium period is over, the loan seekers can repay the loan in convenient EMIs spanned over six to nine months. For extending a maximum support to such alumni and corporate employees, RupeeCircle is partnering with various IITs across India and the Companies to verify the status of the alumni and the employees; respectively who will be applying for the loans. 

Commenting on the partnership, Mr Ajit Kumar, Founder and CEO, RupeeCircle said, “We have developed an innovative programme within a short period of time to extend a helping hand to alumni, graduating students and the working professionals in this time of crisis to sustain their goals.”

Mr Nikhil Prabhakar, Head of Marketing and Products, RupeeCircle maintained that the Company had introduced an innovative short – term credit solution for a niche category of people within a short duration. He added that it would help these individuals and businesses affected by COVID – 19 pandemic. He informed that some NRIs also had accessed these soft – loans in the recent times.

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