Hypothication Loan
Hypothecation Loan (Hyp Loan)
| Consumer Goods Furniture Machinery | : |
» Purchase Of Consumer Goods » Purchase Of house-hold Furniture » Furniture (Business / Shop / Hotel) » Purchase Of Machinery ( New / Old ) |
| Loan Amount | : |
» 75 % Of Quotation » In case of old machinery 50 % of agreement or valuation whichever is low |
| Guarantor | : | » Two (Creditworthy Guarantor's) |
| Membership | : | » @ 2.5 % of Loan Amount in share if loan amount > Rs. 1.00 Lakh » Nominal Membership if loan amount < or =Rs. 1.00 Lakh |
| Repayments | : | » Max. period 60 months for ( A & B ) » Max. period 84 months for ( C & D ) |
| Security | : | » Goods / Furniture / Machinery Purchased » Collateral security as per loan amount |
| Documents | : | » Quotation » ID & RD Proof's documents of Applicant & Guarantor's » Aadhar Card » PAN Card » Bank Track Record » Latest Income Proof of Applicant » Latest Income Proof of Guarantor's » Borrower's residential proof, Search & title report, valuation, property documents |
| Pre-closure | : | » No Pre-closure Charges |
| Loan Processing Fee | : | » As Applicable (Service Charges) |