Lend as low as Rs. 500 or more to low income women entrepreneurs in India and Make Poverty History!
Microcredit refers to small size loans that are collateral free and are lent to low income households to meet their working capital needs. Typically, the loan size varies from Rs. 5000 to Rs. 15000. These loans are usually utilised for income generation activities. The borrower then repays the loans according to a preset repayment plan.
Microcredit provides the much needed financial stability that is needed in many low income households in Indian villages, semi urban and urban areas. It gives them the opportunity to access finance at reasonable rates of interest and provides a healthy and sustainable alternative to the money lender.
We Care India is a web based social initiative that raise Social Investment for its parent organization-SAMRUDHI which is working in the gross root to supports rural entrepreneurs from low income households by providing livelihood based financial services to the doorstep.
We Care India is an innovative attempt to bring down the cost of microcredit by enabling individuals to lend small sums of money via our online portal (We Care India). The main difference between We Care India and traditional microfinance is We Care India’s focus on its mission to lower the interest rate and its fund raising model. By raising social investments from individuals, We Care India is able to bring down the cost of microcredit and offer loans to people at rates that were once unthinkable.
WeCareIndia.Org is a sister concerned of SAMRUDHI. SAMRUDHI is registered not for profit organization
The other peer-to peer on line lending models does work with other filed partners to reach out so called poor households. They actually depend on the MFIs which are operating in the villages while WeCareIndia.org raises social investment for its parent organization-SAMRUDHI which is directly working with rural & urban households. Through WeCareIndia.Org we leverage the internet and the peer to peer model to lower the cost of microcredit to our women clients. Our interest rates to the end user ranges from 8%flat p.a. to 10% flat p.a.
The interest rate breakup of borrower repayments (in flat rates) for each of our loan products is shown below.
*APR interest rates are calculated on a monthly repayment schedule.
* WeCareIndia.Org is managed by SAMRUDHI
* unlike other peer-to-peer model, WeCareIndia.Org will not cut off any amount from the investor
The minimum investment amount is INR 100-500 and the maximum investment amount can be anything the investor is willing to invest.
You can make a social investment in borrowers of your choice by following the steps below :
You will earn an interest of 3-4.0% flat or 7- 8% p.a. or on your investment. In others peer-to-peer lending model your social investment is split among the field partners (here SAMRUDHI itself is a field partner), social investors, X peer-to-peer lending model. They cut off 2-4% of your earning for their operational cost where as WeCareIndia.Org passes this on to the social investors. Your interest is calculated from the day the loan is disbursed to the borrower. This typically will be around a month’s time from the date of investment.
You can login to your account using your email address registered on WeCareIndia.Org. Once you login, you can access the repayment details all your borrowers you invested in. You will also receive a statement of social investments on a monthly basis from our team.
Social Investments on WeCareIndia.Org are different from donations as the social investors get back the principal invested along with a financial return ranging from 7-8% p.a when the borrowers pay back their loan.
When you make a social investment on WeCareIndia, you will receive an email notification confirming all the details of the social investment you made. You will receive email notifications for all online transactions that you make on WeCareIndia.Org. Please Contact Us if you do not receive these updates.
The day your social investment is disbursed, you will receive an e-mail with the details of the disbursement within five working days. The e-mail typically includes the details of loan disbursed, description of the borrowers etc.
When the loan matures. Typically after 12-24 months (the loan is completely repaid by the borrower) you will receive an e-mail informing that the loan has been fully repaid and whether you wish to reinvest or opt for withdrawal. In case, you want to withdraw, than you will have to provide your bank details and WeCareIndia will make an online transfer to your account. Please note that you can only withdraw money to bank account in India.
You will get back your entire social investment at the end of the loan tenure, typically 12 -24 months with a return of 7-8%p.a. However your principal plus interest is repaid as equated monthly installments. So, you do not really have to wait until the end of the loan tenure.
You can complete your social investment by using creit card, debit card, net banking & direct wire transfer.
For every loan borrower who applies for a loan, there is a waiting period of 30 days during which the loan amount needs to be raised. The invest by date indicates the cutoff date by which social investors need to make investments to the borrower.
The social investments that you make are disbursed to the poor borrowers through SAMRUDHI. SAMRUDHI is responsible for identifying borrowers, disbursing loans and collecting repayments. To cover its operational cost SAMRUDHI charges 18% p.a which is much lower than any MFI operating in India (Most of the MFIs in India charges interest between 26%-30%). Out of 18%, we pass on 7-8% to our social investors & we keep 10% which covers our operational costs with 1-2% profit margin for sustainability
Yes. You can trust WeCareIndia.Org with your money. SAMRUDHI, the parent organization of WeCareIndia.Org is one of the responsible and trusted organizations among bankers & funders. SAMRUDHI is being supported & funded by organization like Ananya finance for inclusive growth Pvt Ltd (Formerly FWWB India), Basix, IDF Financial Pvt Ltd,
Further, there is no risk of failure of FIELD PARTNER. SAMRUDHI being a field partner understands the borrower’s needs and capabilities. Since SAMRUDHI began operations in 2007, we have had no borrower defaults on loan repayments.
We have 100% repayment rate and there is no risk on your social investment. However, there are still a few factors that can result in borrower default:
Zero Field Partner Risk. SAMRUDHI delivers your Social investment raised on www.WeCareIndia.Org to your chosen beneficiaries directly.
Yes. Your social investment is guaranteed. However, your social investment is not guaranteed in certain situation such as natural calamities, political instability, natural disaster, unforeseen issues.
Yes. You will get 100% of your social investment in the event of beneficiary’s death if death occurs after three months from date of your investment. Each Micro-Credit client and spouse is insured for life for the amount being disbursed to them. However, we do not guarantee your investment in other area like, Agriculture, HealthCare & Education.
Yes, you can always contribute to us. Your contribution helps us to go long way and coverwww.WeCareIndia .Org’s operational expenses.
WeCareIndia.Org gives you complete flexibility in choosing the cause and the borrower to lend to. Our lending service facilitates a transparent and reliable transfer of 100% of your loan amount to borrowers who need it the most at 12-18% interest, which is 50% cheaper than existing microcredit.
All credit card donations are collected through VeriSign, a secure third party whom we hire for this purpose are highly secure third-party payment system. Because all transactions go through third parties, WeCareIndia does not receive or retain credit card numbers. Further, we will never release your personal information to third party.