Pahal First

Pahal Financial Services Pvt. Ltd.

About this app

Pahal First Playstore Content:

It is a customer engagement app where one can avail services related to existing microfinance loans for facilitating easy repayments along with holding video discussions over a video-conferencing platform with the customers.


Pahal First app is a one-stop solution where one can easily make repayments of their existing microfinance loans from different banks/ NBFCs offered through Pahal and engage with the customers by way of video discussions through a video-conferencing tool using Zoom’s video-conferencing capabilities which, for enabling screen and content sharing requirements, requests access for MANAGE_EXTERNAL_CONTENT.

Pahal does directly participate in lending activities, And a platform to facilitate registered non-bank financial companies (NBFCs) or banks to lend to users. Our primary partner Banks are- RBL Bank, Axis Bank, Yes Bank, Jana Small Finance Bank, Ujjivan Small Finance Bank, Avanti Finance, Annapurna Finance and CSB Bank

What does Pahal First offer?

The services currently being offered on Pahal First are:

Pahal Loan EMI Repayments

Customer engagement through Video Centre Meetings

EMI Calculator

Download Payment Receipt

Features of Pahal First

Simple, secure, and easy to use

Avail multiple services with a simple click

All products & services are available 24x7 on your mobile

EMIs can be paid digitally, so no need to worry about keeping cash at home

Check the payment history of all past EMI instalments

Easily download digital payment receipts online for group/individual payments Track loan disbursement status

Hold video discussions with the Pahals customer service personnel



Loan Amount: Rs 18,000/- to Rs 50,000/-

Interest Rates: 25.5% to 26%

Tenure: 18 months to 24 months

Processing fees: 1% (above Rs 25,000/- loan amount)



Example:

Loan Amount: Rs 50,000/-

Tenure: 2 years

Interest Rate: 25%

EMI: Rs 2,670/- (per month)

Total Interest Payable: Rs 12,990.16 (excluding processing fees + insurance charges)

Principal: Rs 48,419.84/-

Processing Fees(incl. GST): 1%

Disbursed Amount: Rs.50,000/-

Total Amount Payable: Rs.61,410/-

Total Cost of the Loan (Interest Amount + Processing Fees): Rs.12,990.16 (excluding processing fee+ insurance charges)


To Pay your existing MFI Loan EMIs

1. Install the Pahal First app from the Playstore

2. Select the Bank

3. Login using your customer ID or Loan account number

4. Select Pay EMI option

5. Select one or all group members for whom you would like to pay the EMI

6. Pay EMI through various payment options

To join video center meetings

1. Install the Pahal First app from the Playstore

2. Select the Bank

3. Login using your customer ID or Loan account number

4. Select Join Video Center Meeting option

Currently, the application is available in English, Hindi, Bengali, Marathi, and Telugu language. More languages will be offered over the coming months.