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.
Deposit Loan
Deposit loan is granted subject to the value not exceeding 70% of Current value of the actual deposit held.
Features & Benefits:-
Attractive Interests Rates.
Return in easy installments
Eligibility
- Member of the LOK SANSTHA NIDHI 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,
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.