GUWAHATI, Aug 8: As a part of its Silver Jubilee celebration i.e. 25^th Incorporation Day to be observed on August 9, Guwahati based North Eastern Development Finance Corporation Ltd. (NEDFi), the premier financial institution in the Northeast with offices all across the region including Arunachal Pradesh has announced a new interest rate structure.

The new interest rate structure will be called External Benchmark Rate (EBR) and henceforth all new loans above Rs.100 lakh sanctioned by NEDFi will be linked to EBR. Presently the EBR linked with SBI’s 1-year MCLR is 7% and a spread of 0 to 6% shall be charged over and above the EBR depending on credit rating as well as other viability parameters of the pursued project. The EBR shall be revised every month and the same will be notified on the Corporation’s website on the last date of the month for the following month. The move follows the recent downward revision in interest rates by most banks in the country and adoption of external benchmark-linked interest rates. The new interest structure will be officially launched by NEDFi CMD B.P. Muktieh here on Sunday.

It needs mentioning that over the years NEDFi has provided loans to over 6800 projects and taken up several development initiatives through its CSR activities in all the eight NE states and through its varied activities and active engagement with thousands of entrepreneurs, has become a household name in the region. NEDFi PR

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Kenter Joya Riba

(Managing Editor)
      She is a graduate in Science with post graduation in Sociology from University of Pune. She has been in the media industry for nearly a decade. Before turning to print business, she has been associated with radio and television.
Email: kenterjoyaz@easternsentinel.in / editoreasternsentinel@gmail.com
Phone: 0360-2212313

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