Moneyplus Mortgage Loan is to help small businesses with capital for their expansion plans be it purchase of new equipment or diversification for business, or buying an under construction or ready commercial/industrial property.
Who can avail
Moneyplus Mortagae Loan is for Small retailers, traders, manufacturers & service providers
Rs. 5,00,000 to Rs 25,00,000
24 months to 84 months.
Purpose of the Loan
To help small businesses with their expansion plans or any constructive and economically viable purpose
To be secured against property, plot, land or any other form of real estate collateral.
22% – 26% per annum
Prerequisites and Process
Client’s Property should not be in our negative area list.
Purpose of loan should be constructive and economically productive.
Client’s property should not be mortgaged already and client should be in the possession of property.
Property should be in client’s name. If the property to be mortgaged is a parental property, client must obtain NOC from all the possible beneficiaries of the property.
In case of GPA property, it has to be self occupied.
The fixed obligation to income ratio of the client should not be more than 50% after disbursal of current loan.
1 Photograph each of Applicant and Co-Applicant.
Income Details: IT returns, Balance sheet & P/L account statement for the last 2 years with Annexure, Form 16 A/Cash Flow report from the onsite team.
Bank account statements for the last 6 months.
KYC documents of applicant as well as co-applicant.