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Micro Loan Against Property

Secured Micro LAP

Overview

Overview

Required Documents Rates & Charges Calculator EMI Options

Secured Micro LAP

Secured Micro LAP is meticulously crafted to meet the credit needs of diverse trade, commercial activities, and various general business professions. It is a tailored financial solution designed to meet the unique needs of small and medium-sized enterprises which will help them to grow.

Amount

3 Lakhs -15 Lakhs

Tenure

12 months – 84 months

ROI

Starting from 19%*

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Features of Secured Micro LAP

Long Tenure Loans – You can select tenure up to 84 months as per your comfort.
Simple documentation – Your loan will be approved with minimum documentation.
Attractive interest rates – We offer competitive interest rates to help you with get the best rate in market.
Fast approval - You can apply for a Secured Micro LAP and get the finances in your bank account with minimum delay. We ensure a swift disbursal process.

Purpose of taking Micro LAP:

To meet the credit needs of trade, commercial activities, other general business profession as also for their bona fide requirements.
To undertake repairs, renovation, extension of the existing business unit
To meet the working capital requirements of the existing business
For purchase of machineries and equipment
Consolidation of existing debts

Required Documents

KYC’s of Applicant and Co applicant
Business Stability Proof
Ownership Proof
Office Address Proof
All legal papers of Collateral Property as required for legal report & valuation

Eligibility Criteria

Assessment method can be basis any of the below:-

Basis Pucca Bills/ Kachha Bills/Register/Notebooks
Basis ITR/GST/Bank Statement

FAQ’s on Secured Micro Loan Against Property

The maximum loan amount you can avail is Rs. 15 Lakhs.

Co-applicants are required in all cases. All individuals & non-individuals whose income has been considered should be co-applicants to the loan.
Owners & Legal Heirs of the collateral
Immediate family members such as Parents, Spouse & Major Children (daughters & Sisters excluded) will be considered as co-applicant.
Maximum 5 co-applicant can be accepted in a loan.
If the applicant is married, spouse is to be mandatorily taken as co-applicant.

The minimum Loan Tenor is 12 months and maximum is 84 months.

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