Loan Products
"The Loan You Deserve"
Home Loan
Home Loan Benefits
- Loan amount up to 100% of Agreement value
- Loan amount up to 90% of agreement value
- Nil prepayment Charges.
- Nil Processing Fee in Selected Banks
Do & Donts Of Home Loan
- Give all credit information as required in the application form
- Fill up the application form yourself
- Spend 5 minutes to go through the sanction letter once before loan disbursement.
- Please check the Rate of interest.
- Please check the Rate of interest.
- Keep a copy of sanction letter for future reference
- Do not hide any credit information. This will make your loan processing faster.
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.
Age
- Minimum age of applicant at loan maturity: 21 years
- Maximum age of applicant at loan maturity: 60 years
Income
- Minimum Net Monthly Income: Rs 25,000
Credit Rating
- Applicant should have the bank specified credit score.
The following documents are required along with your Personal Loan application:
For Salaried
- Application form along with photograph, Salary slip, Appointment letter.
- Form-16, Appointment letter, Reliving letter, Salary Account Statement.
- Address proof, ID Proof, Signature Proof.
For Self employed
- Application form along with photograph, 3 years ITR, Business profile, Current account statement
- Saving a/c statement, License for running business, 3 years P/L account & balance sheet, Address proof
- ID Proof, Signature Proof.
For Professionals
- Application form along with, 3 years ITR, Individual profile, Current account statement.
- Saving a/c statement, Professional Qualification proof, 3 years P/L account & balance sheet..
- Address proof, ID Proof, Signature Proof.
Documents to be checked before buying a home
Purchasing from Builder
- Commencement certificate(CC), Approved building plan
- Development agreement, Occupancy Certificate(OC), Non Agriculture (NA) Order, Urban Land Cealing (ULC) Order.
- Sale agreement(SA),Please check the Carpet area mentioned in SA.
Resale Purchase
- Occupancy Certificate(OC), Previous sale agreements, share Certificate,
- Society registration certificate, Water & Property tax bill, Address proof, Speak to society office bearer before purchasing
Below are fees and charges that you may be required to pay:
Types of fees Charges applicable
- Rate of interest – Up to 8.75% – 10%
- Processing fees – Up to 2%
- Loan statement charges – Nil
- Interest & principle statement charges – Nil
- EMI bounce charges – Rs 20 for every bounce
- Secure fee – NA
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges
Loan Against Property
Loan Benefits
- Facility available to both Salaried and Business Class individuals
- Loan can be availed against the mortgage of Residential/Commercial /Industrial Property
- Loan Amount up to 80% of the market value of the property (*may vary based on Bank/FI guidelines)
- Lowest processing fee quote can be availed
- The property needs to be mandatorily insured in favor of the Bank/ FI.
- The loan tenure will be up to 15 years. (*may vary based on Bank/FI guidelines)
Do & Donts
- DO disclose all information to the Bank.
- Fill up the application form yourself
- Spend 5 minutes to go through the sanction letter once before loan disbursement.
- DO maintain healthy CIBIL record.
- DON’T hide information about any existing Loans.
Eligibility Criteria for Loan
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.
Age
- Maximum age of applicant at loan maturity: 60 years
Income
- Minimum Net Monthly Income: Rs 25,000
Credit Rating
- Applicant should have the bank specified credit score.
For Salaried
- Application form along with photograph, Salary slip, Appointment letter.
- Form-16, Appointment letter, Reliving letter, Salary Account Statement.
- Address proof, ID Proof, Signature Proof.
For Self employed
- Application form along with photograph, 3 years ITR, Business profile, Current account statement
- Saving a/c statement, License for running business, 3 years P/L account & balance sheet, Address proof
- ID Proof, Signature Proof.
For Professionals
- Application form along with, 3 years ITR, Individual profile, Current account statement.
- Saving a/c statement, Professional Qualification proof, 3 years P/L account & balance sheet..
- Address proof, ID Proof, Signature Proof.
Below are fees and charges that you may be required to pay:
Types of fees
Charges applicable
- Rate of interest – Up to 16% -35%
- Processing fees – Up to 2%
- Loan statement charges – Nil
- Interest & principle statement charges – Nil
- EMI bounce charges – Rs 20 for every bounce
- Secure fee – NA
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges
Loan Balance Transfer
Loan Balance Transfer
Why transfer the balance?
The borrowers loan can be transferred from one lender to another. But the type of loan that’s most commonly transferred is home loan & Loan against Property, since the amount is big and repayment tenure long. Even a slight reduction in rates can mean substantial savings in the long run.
- Why transfer the balance?
- Get relatively lower interest rates & Fees then your existing loan
- Get a top-up or additional loan.
- Moves from a non-banking financial company (NBFC) to a bank
What should you do?
- Check the terms and conditions of the new lender carefully.
- Ensure that the lower rate isn’t just a short-term promotional offer.
- Read the terms and conditions properly.
- Avoid teaser loans as the rates are low in the initial years and higher for the rest of the period.
- Before switching, check if the existing lender will reduce rates.
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.
Age
- Maximum age of applicant at loan maturity: 60 years
Income
- Minimum Net Monthly Income: Rs 25,000
Credit Rating
- Applicant should have the bank specified credit score.
The following documents are required along with your Personal Loan application:
For Salaried
- Application form along with photograph, Salary slip , Appointment letter,Form-16.
- Relieving letter, Salary Account Statement.
- Address proof, ID Proof, Signature Proof,Vehicle quotation
For Self employed
- Application form along with photograph, 3 years ITR, Business profile.
- Current account statement, Saving a/c statement,License for running business, 3 years P/L account & balance sheet, Address Proof.
- ID Proof, Signature Proof, Vehicle quotation.
For Professionals
- Application form along with photograph, 3 years ITR, Individual profile.
- Current account statement, Saving a/c statement, Professional Qualification proof, 3 years P/L account & balance sheet.
- Address proof, ID Proof, Signature Proof, Vehicle quotation.
Below are fees and charges that you may be required to pay:
Types of fees
Charges applicable
- Rate of interest – Up to 16% -35%
- Processing fees – Up to 2%
- Loan statement charges – Nil
- Interest & principle statement charges – Nil
- EMI bounce charges – Rs 20 for every bounce
- Secure fee – NA
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges.
Personal Loan
Personal loan Benefits
- Personal loan does not required any collateral.
- Salaried, self employeed & self professionals can apply for personal loan.
- A monetary aid for fulfilling the urgent monetary need.
- Personal loan may be used for children’s education, marriage, home renovation purpose, buying electronics appliance, buying mobile phone etc.
- Personal loan can be used for funding your holiday trip.
- To simply pay off credit card bills or other dues.
- To meet urgent business requirements .
- Fast processing time.
- Personal loan can be availed within 2 days .This may vary from bank to bank.
- Approach FincapIndia for your personal loan requirement & relax.
- Minimum documentation required.
- All the major banks & NBFC are offering personal loan.
Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a personal loan.
Age
- Maximum age of applicant at loan maturity: 60 years
Income
- Minimum Net Monthly Income: Rs 25,000
Credit Rating
- Applicant should have the bank specified credit score.
The following documents are required along with your Personal Loan application:
For Salaried
- Personal Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Home Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months
- Latest salary slip/current dated salary certificate with the latest Form 16
For Self employed
- Personal Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Home Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months
- Latest salary slip/current dated salary certificate with the latest Form 16
For Professionals
- Personal Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Home Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months
- Latest salary slip/current dated salary certificate with the latest Form 16
Below are the fees & charges that you need to pay:
Types of fees Charges applicable
- Rate of interest – Up to 16% -35%
- Processing fees – Up to 2%
- Loan statement charges – Nil
- Interest & principle statement charges – Nil
- EMI bounce charges – Rs.20 for every bounce
- Secure fee – NA
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges
Car Loan
Loan Benefits
- Facility available to both Salaried and Business Class individuals
- Loan can be availed against the mortgage of Residential/Commercial /Industrial Property
- Loan Amount up to 80% of the market value of the property (*may vary based on Bank/FI guidelines)
- Lowest processing fee quote can be availed
- The property needs to be mandatorily insured in favor of the Bank/ FI.
- The loan tenure will be up to 15 years. (*may vary based on Bank/FI guidelines)
Do & Dont’s
- DO disclose all information to the Bank.
- Fill up the application form yourself
- Spend 5 minutes to go through the sanction letter once before loan disbursement.
- DO maintain healthy CIBIL record.
- DON’T hide information about any existing Loans.
Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a personal loan.
Age
- Maximum age of applicant at loan maturity: 60 years
Income
- Minimum Net Monthly Income: Rs 25,000
Credit Rating
- Applicant should have the bank specified credit score.
The following documents are required along with your Personal Loan application:
For Salaried
- Personal Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Home Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months
- Latest salary slip/current dated salary certificate with the latest Form 16
For Self employed
- Personal Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Home Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months
- Latest salary slip/current dated salary certificate with the latest Form 16
For Professionals
- Personal Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Home Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement of previous 3 months (Passbook of previous 6 months
- Latest salary slip/current dated salary certificate with the latest Form 16
Below are fees and charges that you may be required to pay:
Types of fees Charges applicable
- Rate of interest – Up to 16% -35%
- Processing fees – Up to 2%
- Loan statement charges – Nil
- Interest & principle statement charges – Nil
- EMI bounce charges – Rs 20 for every bounce
- Secure fee – NA
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges.
MSME Loan
What is a MSME Loan ?
Micro and Small and Medium Enterprises (MSME) are run by small entrepreneurs who provide various services within the community. A MSME loan is facility extended to micro enterprises to start micro business or improve the business.
Who can opt for a MSME Loan ?
Micro businesses encompassing small production units and rendering services can opt for the MSME loan. They can avail the loan either to start a new micro business or strengthen existing business. MSME loans are especially suited to women working in varied businesses such as catering, wellness, grooming, day care centre, flower shops and tailoring.
Any entrepreneur intending to start a small or medium enterprise is eligible for SME loans. An entrepreneur already running a small or medium business is also eligible for SME loans to finance any improvements needed for the enterprise to improve its business.
If you are above 25 years and below 65 years of age you are eligible for a MSME Loan if your business,
- Is profitable for three previous years
- Is stable and growing
- Is filing ITR
- MSMEs can avail a business loan amount above Rs 3 lakhs and up to Rs 50 lakhs if they can show income and ability to repay. The loan tenure is between 12 and 36 months.
For instance, you could be a small manufacturer or a service provider such as a hospital, nursing home or a small scale manufacturer, and if you satisfy the business loan eligibility criteria as above then you can avail the loan.
You could be an owner of the SME or MSME business under any type of ownership structure such as:
- Sole proprietorship
- Partner in a partnership firm
- Private limited company
- Societies
- Trusts
Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a personal loan.
Age
- Maximum age of applicant at loan maturity: 60 years
Income
- Minimum Net Monthly Income: Rs 25,000
Credit Rating
- Applicant should have the bank specified credit score.
The following documents are required along with your Personal Loan application:
- Proof of residence – Recent telephone bills, electricity bill, property tax receipt/ passport/ voter’s ID Card of proprietor, partner or Director(if a company)
- Proof of business address.
- Profile of the unit (includes names of promoters, other directors in the company, the activity being undertaken, addresses of all offices and plants, shareholding pattern etc.
- Memorandum and articles of association of the Company/PartnershipDeedof partnersetc.
- Assets and liabilities/Networth statement of promoters and Guarantors along with latest income tax returns.
- Rent s Agreement(if business premises on rent).
- Clearance from Pollution Control Board/Sanction from Electricity Board for supply of water,/Statutory Clearance, if applicable.
- MSE/SSI registration certificate,if applicable.
- Last three years balance sheets of the units along with income-tax.
- Projected balance sheets for the next two to five years.
- Last three years balance sheets of the Associate/ Group
- copies of lease deeds/title deeds of all the properties being offered as primary and collateral securities.
- Manufacturing process, major profile of executives in the company, any tie-ups, details about raw materials used, their suppliers, buyers, major competitors and the company’s strengths and weaknesses vis-à-vis their competitors etc.
- Order Book Position
- Breakup of debtors(more than 6 months)
- Lead Bank assessment note incase of consortium
- Statement of account for last one year(In case of existing account)
- Additional requirement for Term Loan A) Project report containing details of the machinery to be acquired, from whom to be acquired, price, names of suppliers, financial details like capacity of machines, Installed capacity &present capacity utilization, capacity utilization assumed, production, sales, projected profit and loss and balance sheets for the next 7 to 8 years till the proposed loan is to be paid ,the details of labour, staff to be hired, basis of assumption of such financial details etc. 20 Latest Stock Statement /QIS/FFR/ Stock audit report(If applicable)
Below are fees and charges that you may be required to pay:
Types of fees Charges applicable
- Rate of interest – Up to 16% -35%
- Processing fees – Up to 2%
- Loan statement charges – Nil
- Interest & principle statement charges – Nil
- EMI bounce charges – Rs 20 for every bounce
- Secure fee – NA
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges.
Business Loan
What is a Business Loan ?
There comes a time in every business when there is a need for extra credit and funds for its smooth functioning. These funds help you, the business owner, to expand, invest and help in your working capital needs. At times like these, a quick business loan is the best financial aid that can help you grow.
This borrowed capital can be applied towards daily capital expenses, for specific project funding, expansion of the business including purchasing of new machinery for the business. You can also apply to take a loan for business if you need investment for starting a new business or ancillary units for your existing business.
Your eligibility is determined after looking at the following
- Last 2-3 years business financials.
- Years in business and current level of business activity.
- Nature of the industry the business operates in and how that industry has fared in recent times.
- The current level of obligations of the company i.e. the other installments (EMIs), credit limits and other types of finance the company may have.
- The company’s past credit history.
- You can avail an unsecured Business Loan ranging from Rs.5 lakh to Rs.30 lakh.
- The minimum tenor available for a business loan is 12 months and it can go up to 48 months.
- Business Loans are offered usually on a fixed rate basis.
- You can repay your business loan through either Post Dated Cheques or ECS.
The following documents are required along with your Personal Loan application:
- Proof of residence – Recent telephone bills, electricity bill, property tax receipt/ passport/ voter’s ID Card of proprietor, partner or Director(if a company)
- Proof of business address.
- Profile of the unit (includes names of promoters, other directors in the company, the activity being undertaken, addresses of all offices and plants, shareholding pattern etc.
- Memorandum and articles of association of the Company/PartnershipDeedof partnersetc.
- Assets and liabilities/Networth statement of promoters and Guarantors along with latest income tax returns.
- Rent s Agreement(if business premises on rent).
- Clearance from Pollution Control Board/Sanction from Electricity Board for supply of water,/Statutory Clearance, if applicable.
- MSE/SSI registration certificate,if applicable.
- Last three years balance sheets of the units along with income-tax.
- Projected balance sheets for the next two to five years.
- Last three years balance sheets of the Associate/ Group
- copies of lease deeds/title deeds of all the properties being offered as primary and collateral securities.
- Manufacturing process, major profile of executives in the company, any tie-ups, details about raw materials used, their suppliers, buyers, major competitors and the company’s strengths and weaknesses vis-à-vis their competitors etc.
- Order Book Position
- Breakup of debtors(more than 6 months)
- Lead Bank assessment note incase of consortium
- Statement of account for last one year(In case of existing account)
- Additional requirement for Term Loan A) Project report containing details of the machinery to be acquired, from whom to be acquired, price, names of suppliers, financial details like capacity of machines, Installed capacity &present capacity utilization, capacity utilization assumed, production, sales, projected profit and loss and balance sheets for the next 7 to 8 years till the proposed loan is to be paid ,the details of labour, staff to be hired, basis of assumption of such financial details etc. 20 Latest Stock Statement /QIS/FFR/ Stock audit report(If applicable)
Below are fees and charges that you may be required to pay:
Types of fees Charges applicable
- Rate of interest – Up to 16% -35%
- Processing fees – Up to 2%
- Loan statement charges – Nil
- Interest & principle statement charges – Nil
- EMI bounce charges – Rs 20 for every bounce
- Secure fee – NA
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges.
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.