When taking a Loan against Property, it is essential to insure the property being mortgaged. The insurance cover should cover damages caused by fire and such calamities and must be valid throughout the loan tenure.Every borrower must submit a proof of the insurance policy annually
Secured business loans require collateral to be provided in the form of a security. A secured loan for small business needs a company asset like property, equipment or land to be offered as security in case of default. The interest rates are lower and the
Secured business loans are the most economical way to secure working capital, buy equipment or scale up operations for a business. You also unlock the monetary value of your asset in the process. In the event that you are unable to obtain an unsecured loan and
Secured business loans can be availed by proprietorship, partnership, limited Liability companies having sound credentials. All that you need to do is contact our branch for a representative visit. The eligibility criteria for secured loan for small business need to be fulfilled and the asset
An applicant can qualify for a Business Loan by meeting the following criteria: Minimum 3 years of business vintageApplicant’s age to be within 25 to 60 yearsIT returns filed for at least the previous 3 yearsA healthy CIBIL score and strong credit profile
A CIBIL score of 750 is considered healthy to avail a business loan. The closer your score is to 900, higher are your chances of getting the loan on good terms.
Secured business loans are offered with collateral offered by the loan seeker. This collateral can be liquidated if the loan goes into default mode. The risk in offering a collateral business loan is low, so we can offer lower rates of interest. Once the loan
Small businesses are often managed by family and the structure of the business is largely informal. Currently, we offer secured loan for small business. This loan is easier to procure as it carries lower risk. The rates of interest for a secured business loan are
Yes, you need to provide a collateral for our secured business loans. The collateral has to be in the ownership of the directors (if the entity is a private limited company) or the partners/proprietors (if the entity is a firm) or the business itself. The
The collateral business loan requires you to pledge assets like house property, land. The asset should be free and the deed should be in the name of the borrower. You can contact our branch to know more and get clarity on the type of collateral