Rang De is a non-profit organisation that allows Indians to lend money to fellow Indians that require a small amount of money (microloans) to start or grow a business. Money can be lent in the form of a social investment through Rang De's on line portal RangDe.Org. Rang De disburses loans to its borrowers through its field partners (usually NGOs) across India. Social investments will be repaid with interest at the end of a loan tenure (typically one or two years).
Rang De is an attempt to bring together the India that is rapidly progressing economically and the India that has been left out and needs attention and is conveyed in its tag line "share the colours of joy". Rang De’s mission is to make microcredit accessible to every low income household by lowering loan interest rates through innovative means.
How RangDe.Org works?
Step 2. Choose borrowers to make a social investment to fund micro-businesses and education. The investment can be as little as Rs.100.
Step 3. Rang De’s field partners receive and disburse loans to the borrowers.
Step 4.Borrower repays loan according to a repayment schedule.
Step 5. You receive a return of 2.0% (3.5% APR) on your social investment at the end of the tenure.