Karvy Finance Secured Business Loan against Property

Sometimes the need of having cash on hand comes unexpectedly, or even when you have run out of options. Taking a loan helps solve these problems. With Karvy Finance Secured Business Loans against Property can help you with the financial crisis by utilising your property value.

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Purpose of Karvy Finance Secured Business Loans against Property

This loan amount can be used for any person's financial needs. Anyone from business owners to individuals and firms and private limited companies can apply for this loan to help them with working capital in business to buying a plot of land or renovating a home. Karvy Finance Secured Business Loans against Property will help them to achieve all of the above and more

Eligibility criteria

Eligibility conditions for this loan will be:

Individuals, firms and private limited companies
Applicant should be a citizen of India between the age of 21 - 75
The application needs made jointly by 2 individuals
Loans can be taken against commercial or personal property
Salaried individuals need to have an income of a minimum of Rs. 2.5 lakhs and have 2 years' experience minimum as well.
Self-employed individuals need to have an income of a minimum of Rs. 1.5 lakhs and have 3 years of business operations as well.

Types of financing available

This will be a secured loan for a specific term.

Maximum amount of loan

The applicant can get a minimum of 60% of their property value, the amount will also depend on the term of the loan and nature of the property. The repaying capabilities as well will determine your loan amount.

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What are the documents required for Karvy Finance Secured Business Loans Against Property?

Documents required will be Banks statements for applicants as well as the documents mentioned below:

Individuals	Partnership Firm	Limited Company
Proof of Age - Pan Card, Passport, Class X marks card etc	Partnership registration	Certificate of Incorporation
Proof of Address - Passport, Utilities Bill,	Partnership deed	Memorandum and Articles of Association
Income Tax returns for 2 years	Proof of ID as applicable	A resolution from the Board of Directors
Salary certificate from company	Income Tax returns for 2 years along with financial statements	Proof of ID as applicable
Self - employed: Income Tax returns for 3 years		Income Tax returns for 2 years along with financial statements

Terms for Karvy Finance Secured Business Loans Against Property

All relevant fees will be charged when applying for the Karvy Finance Secured Business Loans Against Property such as

Administration fees of Rs. 5000
Processing fee of 3%
EMI bouncing charges of Rs. 500
Late payment charges of 3% of the EMI amount per month
Prepayment - if the rate of interest is a floating rate then no prepayment charges will be levied, for other there will be charge of 3% of the entire prepayment amount
Foreclosure- if the rate of interest is a floating rate then no foreclosure charges will be levied, for other there will be charge of 5% of the entire final amount will be charged.

How do I apply for this loan?

You can apply for a loan from Karvy Finance by

Walking into any of the Karvy Finance branches.
Contact a Sales Representative of Karvy Finance
Call or email the customer care about applying for the loan
And even apply on their website for the Karvy Finance Secured Business Loans Against Property

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