Introduction
Whether you want to repay costly debts, buy inventory, pay your workers, renovate your business premise or any other business need, you can use the hypothecation loan. This product is apt for your short-term business needs and does not require any mortgage.
Features and Benefits – Secured
Loan amount between ₹ 0.05 million to ₹0.40 million
Tenure of 6 months to 42 months.
Fully or partially secured against a contract of hypothecation of working assets, finished goods and machinery
Eligibility
You should be an Indian citizen in the age group of 21-59 years.
Business stability of 3 years.
Permanence of business location of 3 years.
Fees and Charges
Processing Fees – 2.5% + GST.
Bounce Charges – Rs 500 (inclusive of taxes)
Late Payment Charges – Rs 200 per month (inclusive of taxes)
Foreclosure Charges – As applicable.
