Secured Loan
A Secured Loan is a loan where the borrower he will pledges for some asset which is used as Collateral. In this type product they will be sanctioning loan process for personal & commercial use.
Features & Benefits:- Attractive Interest Rates.
Eligibility :
- Member of the NavabharathaSouharda Co- Operative Ltd.
- Holding either single account or joint account with other family members’ viz., father, mother, wife, son or daughter with regular source of income.
- Individuals who may be employed/self-employed in business having regular income.
- Permanent employee of Central/State/Defence//Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having regular income.
Purpose Of Loan :
- Up-gradation, renovation and extension of residential property.
- Medical, emergency expenditure for maintenance of family.
- To meet the Wedding Expenditure.
- Major Surgical operation.
- For expansion of your existing business or begin a dream venture.
- Meeting any other genuine need as may be specified by the Borrower and agreed to by the Lender.
- Planning to start a small Business.
Quantum of Finance – As per eligibility and Income Earning Capacity.
Repayment Details – By EMI or Regular.
Processing Charges & Service Tax – 2 % Processing Fees and Other Charges (Inclusive) PLUS Service Tax as applicable.
Supporting Documents for Loan Sanctioning :
Photo Identity Proof :
- Pass port / PAN card / Voters Identity Card / Driving License
Residence Proof :
- Telephone Bill
- Letter from any recognized Public Authority
- Electricity Bill
- Ration Card
- Letter from employer subject to satisfaction on Bank
- Properly Tax Book/Receipt
- Registered Lease Deed
- Application on Prescribed form
- Two photographs of Borrower and Guarantors
- Address proof of Borrower and Guarantors (copy of Ration Card, Election card, Telephone bill, Driving License etc.)
- Income proof, Copy of Income Tax Return, Financial Statement of the Firm, Sales Tax returns etc.
- Profile of Guarantors.
- Loan should be guaranteed by three financially sound Guarantors having net individual worth twice the loan amount.
- Any other marketable security.