Hypothication Loan

Hypothecation Loan     

Purpose of loan: - Business purpose

Age Limit: - Min 18 Years and Max 65 Years

Guarantor: - 2 Guarantor Compulsory Required

Constitution: - Individual/ Proprietary firm/ Partnership firm/ HUF/ Company

Rate of Interest: - 

Bank Finance:-    70% - 100% of Property average Valuation

Margin:-               30% Margin of Stock + Debtors - Creditors

Limit of loan:-     As per Bank loan Exposure limit

Eligibility Criteria: - Self Employed / Businessmen /Professionals having a regular source of income

Repayment period:-

            1) Maximum 3 years for salaried  class/Businessmen/Professionals.

             2) Maximum 5 years for salaried class/Businessmen/Professionals.

             3) Maximum 5 -7 years for Businessmen / Professionals

Process fee:-   

                   1) 0.30% + service tax as applicable from time to time, (subject to a Maximum of Rs.20,000/- + ST

                     2) Renewal of HYP loan at the time 0.30% + service tax as applicable from time to time, (subject to a Maximum of Rs.5,000/- + ST

Collateral Security:- NA property for Collateral Securities) STOCK + BOOK DEBTS

Share Linking: - Basic Amount + 2.50% Fixed Deposits loan value

Document required

1. Duly filled and sing by prescribed application form Borrower, Co Borrower and Guarantor

2. Latest 2 Photograph, KYC: Photo Identity Proof, Residence proof of the Borrower, Co

    Borrower and Guarantors

3. Businessman: Shop Act Licence, GST Certification, Udyam Aadhar certificate, both

    Borrower and Guarantor last 3 years CA Certified with UDIN no, Profit & loss and

    Balance Sheet, ITR copies, Tax Audit Report (If Require) 12 months bank Accounts

   Statement, GST 3 B Return / GSTR-1, Loan account statement (if any) Debtors and Creditors    list, Stock statements.

 

4. No Dues Certificate by CA certified for no levy any Taxes and duties payable Any Financial  

    Year/ Current Financial Year

5. Net worth certificate by CA certified for latest financial year positions.

6. CIBIL and NOC from other financial institution like Pathsanstha, CO op bank, credit

    Societies. Etc

7) Tentative Balance sheet and profit & loss statement for current year, projection / project

    Report for next 3-5 years
8. Latest property 7/12 exact without any charge

Others: - 1) loan charge interest or emi payable before 15th of every month

    2) 2. Loan charge interest or emi payable after 15th of every month 2% additional penalty charge

3) Rebate Credited to Loan account 20th of Every Mont

4) Agreement Receipt

 

 


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