Small finance banks deal with small banking and financing, which puts the eyes of the managing of the tiny micro credits and small business financing. In the event of the 1st wave of the covid -19, there has been a massive increase in the bad loans as the defaulters were there who were unable to pay at the proper time because of the international crisis which came out suddenly.
Despite the services like that of the home loan, gold loan, educational loan and all the other types of the services necessary are being provided by the banks by putting best efforts by implementing the new policies and the reforms along with the daily economic changes in the market.
That of the bank takes massive steps to maintain the stable flow of the services. On the other hand, the staffs and the people also remain safe from the infection and thus due to this there will be mainly the online way of banking even if submitting the document of mortgage or the home loan documents or the per requires for that of the gold loan or other types of loans.
Banks like AU small finance bank, ujjivan small finance bank and Equitas small finance have got the effect of the bad loans so much that their non-performing assets have reached about 7%, which is a matter of concern. It is now a serious matter as the problem is increasing after the 2nd wave, which has shown that it is more powerful than humans and the previous 1st wave.
There have been changes in the home loan interest rates and the other interest rates, processing fees and any charges to ease the norms so that the ordinary people get the benefits of the services.
The eligibility in the above-mentioned bank, like that of the gold loan eligibility calculators to the other types of home loan EMI calculators in the official websites, can give a good estimation without visiting any place and online.