All Types of Loans

What is Personal Loan?

Personal loans are unsecured loans that provide financial assistance for various personal needs without requiring collateral. These loans offer flexibility in usage and quick processing with minimal documentation.

Required Documents

• Identity Proof: Aadhaar Card, PAN Card, Passport
• Address Proof: Utility bills, rental agreement, Aadhaar
• Income Proof: Salary slips (3 months), Form 16, ITR
• Bank Statements: Last 6 months
• Employment Certificate & Offer Letter
• Passport-size photographs (2-3)

Key Benefits

• No collateral or security required
• Quick approval process (24-72 hours)
• Flexible usage - weddings, medical, travel, education
• Competitive interest rates starting from 10.05%
• Online application and disbursal facility
• Prepayment options available
• Fixed EMI for better financial planning

Eligibility Criteria

• Age: 21-65 years for salaried, 25-70 for self-employed
• Income: Minimum ₹25,000 monthly for salaried
• Employment: 2+ years total experience
• CIBIL Score: 750+ for best rates
• Current Employment: Minimum 1 year

What is Business Loan?

Business loans provide financial support for business expansion, working capital, equipment purchase, and operational needs. These loans help entrepreneurs grow their businesses with competitive interest rates.

Required Documents

• Business registration documents & licenses
• GST registration certificate
• Financial statements (3 years)
• Bank statements (12 months)
• Income Tax Returns (3 years)
• Project reports & cash flow projections
• Property documents (if collateral)
• KYC documents of directors/partners

Types of Business Loans

• Working Capital Loans: Day-to-day operations
• Equipment Finance: Machinery & equipment purchase
• Business Expansion: New branches & growth
• Trade Finance: Export-import financing
• Startup Funding: New business setup
• Invoice Discounting: Cash against receivables

Eligibility Criteria

• Business Vintage: Minimum 2 years
• Annual Turnover: ₹40L+ (Manufacturing), ₹25L+ (Trading)
• Profit Margins: Consistent profitability
• Credit Score: Good credit history
• Legal Status: Registered business entity

What is Home Loan?

Home loans are secured loans for purchasing, constructing, or renovating residential properties. The property serves as collateral, enabling lower interest rates and longer repayment tenures with substantial tax benefits.

Required Documents

• Income proof: Salary slips, ITR, Form 16
• Identity & Address proof
• Bank statements (6 months)
• Property documents & agreements
• Approved building plan & NOC
• Property valuation report
• Insurance documents
• Employment certificate

Tax Benefits

• Section 80C: Principal repayment up to ₹1.5L
• Section 24(b): Interest payment up to ₹2L
• Section 80EE: Additional ₹50,000 for first buyers
• Total Benefit: Up to ₹3.5L annual deduction

Eligibility Criteria

• Age: 21-65 years (salaried), 25-70 (self-employed)
• Income: Stable monthly income
• Credit Score: 750+ preferred
• LTV Ratio: Up to 90% of property value
• Employment: Minimum 2 years experience

What is Loan Against Property?

Loan Against Property (LAP) allows you to pledge your residential or commercial property as collateral to secure substantial funding at competitive interest rates while retaining ownership and usage rights.

Required Documents

• Property ownership documents
• Property valuation report
• Income proof & bank statements
• Identity & address proof
• NOC from society/authority
• Property tax receipts
• Property insurance documents
• Legal clearance certificates

Property Types Accepted

• Residential: Apartments, houses, plots (70% LTV)
• Commercial: Offices, shops, warehouses (65% LTV)
• Industrial: Factories, mills (60% LTV)
• Agricultural: Farmland with approvals (50% LTV)

Common Uses

• Business expansion & working capital
• Debt consolidation
• Medical emergencies
• Education funding
• Investment opportunities
• Property renovation

What is Education Loan?

Education loans provide financial assistance for higher education expenses including tuition fees, accommodation, books, and other study-related costs for domestic and international courses.

Required Documents

• Admission letter from educational institution
• Fee structure & cost estimates
• Academic records & certificates
• Income proof of parents/co-applicant
• Bank statements & ITR
• Identity & address proofs
• Collateral documents (if applicable)
• Passport (for overseas education)

Coverage Details

• Tuition Fees: Course fees & examination fees
• Accommodation: Hostel/rental expenses
• Books & Equipment: Study materials & laptops
• Travel: India to study destination
• Insurance: Student insurance premium
• Other Expenses: Project costs, thesis expenses

Repayment Features

• Moratorium Period: Course duration + 6 months
• Repayment Tenure: 5-15 years after course
• Interest During Studies: Simple interest applicable
• Prepayment: Allowed without penalty

What is Vehicle Loan?

Vehicle loans help you purchase new or used cars, two-wheelers, and commercial vehicles with attractive interest rates and flexible repayment options. The vehicle serves as collateral for the loan.

Required Documents

• Vehicle quotation & invoice
• Income proof & bank statements
• Identity & address proof
• Driving license
• Vehicle registration documents
• Insurance policy
• Employment certificate
• Vehicle inspection report

Types of Vehicle Loans

• Car Loans: New/used cars (7.25% - 10%)
• Two-Wheeler: Bikes/scooters (9% - 12%)
• Commercial Vehicle: Trucks, taxis (8.5% - 11%)
• Construction Equipment: JCB, cranes (10% - 13%)

Key Features

• Loan Amount: Up to 90% of vehicle value
• Processing Time: 2-7 days
• Repayment: 1-7 years tenure
• Down Payment: 10-20% of vehicle cost
• Age Limit: 21-65 years