1. Secured Loan-Business

The product aims at providing financial assistance to small businesses like small traders, manufacturers, and other self-employed persons in MSE segment

2. Secured Loan – Dairy

Under this category, we provide finance for purchase of milch animals, construction and expansion of sheds and working capital for running dairies

3. Secured Loan – Others

This category mainly caters to those individuals who are in service and their main source of income is salary and the loan requirement is for renovation of the house which is self-occupied and other related purposes.

Other Salient features:
01 Eligibility The loan will be given to an individuals and proprietorships and partnerships. The spouses of borrowers will be joining as co- borrowers. In case property offered as security is in the name of any other family member of borrower like son/daughter, he/she will be joining as co-borrower
02 KYC compliance The applicants will be KYC Compliant and necessary Official Valid Documents (OVD) will be obtained.
03 Purpose The loans will be given for acquiring fixed assets and/or working capital. In cases of salaried employees, the same will be for renovation of residential unit.
04 Security The loan will be secured by equitable mortgage of residential house preferably self-occupied. The Loan to value (LTV) will be maximum to the extent of 60%.
05 LTV The Loan to value (LTV) will be maximum to the extent of 60%.
06 Repayment Period The normal repayment period will be up to 60 months to 72 months
07 Credit History The track records of all borrowers have to be satisfactory.
08 Loan Size The maximum loan size per case will not exceed Rs 30.00 lakh
09 Area of Operation The area of operation will be Delhi and National Capital Region
10 Repayment procedure The repayment of loan EMIs will be through ECS. However, some PDCs and security cheques will be obtained at the time of disbursement .
12 CIBIL Report retrieval fee Rs 50/- per instance
SCHEDULE OF CHARGES
Sr No Particulars Details
01 Loan Processing charges 3.25% of loan sanctioned
02 Document Charges Rs 250/ - Per Case
03 Bank Charges for Disbursement Actual
04 EMI dishonor charges per instrument /transaction Rs 600/- + GST
05 Pre-closure charges Pre-closure is allowed after 6 months from date of disbursement for long term loans subject to the following :
1. All floating loans given to individuals where all borrowers and co-borrowers are individuals - NIL
2. Secured Business loan 4% of the principal outstanding
06 Late Payment /Delayed /overdue interest charges 2% per month on delayed period on the overdue amount .
07 Request for copies of documents of collaterals held : Rs 750/- Per instance
08 Duplicate statement of account /repayment schedule/any other document Rs 250/- per instance
09 CERSAI Charges Actual as per schedule of CERSAI
10 Pre- closure quote Rs 500/- per instance
11 Document retrieval and handling charges at the time of closure of the account Rs 500/-
12 CIBIL Report retrieval fee Rs 50/- per instance
13 Duplicate No -Due certificate Rs 500/-
14 Stamp Duty /Legal charges Actual
15 Each personal visit to borrower place for collection of dues RS 500/- Per visit
16 Notice charges for recovery Rs 250/-
17 Legal Notice Rs 750/- + GST or actual whichever is higher
18 Loan application form Free
19 No –dues certificate Free- first time
20 Account statement Free – first time
21 Any other charges incurred by the company not specified above Actual