Introduction
This product is for clients who are willing to mortgage their property, but the property title is not perfect to create a charge. The loan availed can be used to either fulfil your working capital requirement or asset purchase requirement.
Features and Benefits
Loan amount ₹ 0.05 million to ₹0.60 million
Tenure 36 months to 60 months
‘Saral’ Property Loans Fully secured against property collateral (all kinds of properties) and 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% + GST
Bounce Charges –Rs 500 (inclusive of taxes)
Late Payment Charges –Rs 200 per month (inclusive of taxes)
Foreclosure Charges – As applicable.
