Secured Loan

Introduction

"CONVERT YOUR DREAMS INTO REALITY"

Key Features:

Loans are given against the title of ownership of assets, which will be used as collateral (like homes, vehicles, assets, property).
Lower interest rates as compared to unsecured loans, because the bank has a higher level of confidence in your ability to repay.
More flexible repayment options than regular loans.
Option of fixed rate and variable rate.
Loan approval is faster.
Customizable loans to cater to specific needs.
These loans are available to non-salaried individuals.

Repayment Options:

Repayment during the loan tenure.

Payable in equal, easy and affordable monthly instalments

Rate of Interest:

10-11 %

Eligibility Criteria:

Applicants must have reached the age of 18 years or older.
Applicant must be a resident of India.
Most banks and lenders require the applicant to have a minimum annual income of Rs.3 lakh per annum.
Income can be generated from regular salary, non-salaried income and business income.
For loans based on business income, the business must have been running and generating a profit for the last 3 years.
Applicant must have assets, whose value must match or exceed value of loan required.

Documentation requirements:

Proof of identity : This should be an official document which contains your name and photograph. Could be either your driving license, passport, voters ID, PAN card, Employee ID (if the company is registered), etc.

Proof of age : Should be a verifiable document that determines your age, such as a birth certificate, passport, voters ID, etc.

Proof of income : This should be an official / certified document which contains the details of your income and tax paid (TDS). Could be either your salary slips for the past 3 months, or Form 16 duly filled in and attached to a salary certificate.

Proof of residence : This should also be a certified document that verifies your residential address in the eyes of the law. Could be either your phone / internet bill, rental agreement, bank account statement, etc.

Original property documents of the property that is being pledged as collateral against the loan.

Bank statements for the last 6 months.

Guarantor (optional).

*Terms & Conditions Apply