Finova products are MSME oriented & tailor made to suit gamut of industries to maximize business growth for customers
Mortgage loan-Residential /Commercial
- Loan Amount-Rs 3 lacs to 10 lacs
- Repayment tenor-2 years to 7 years
- Interest rate-21% to 25% per annum
- Secured against mortgage over marketable security
- Processing fee-3% + service tax
Top up loan
- Seasonal & festival loan requirements of Rs 50,000/- to Rs 200000/-
- Short seasonal tenor-2 months to 1 year
- Interest rate-22% to 26%
- Existing loan customers with a good repayment track record can apply after 6 months of taking their primary loan
- Secured against the existing assets under the primary loan
Requirements
- Continuity in business-Min. 3 years in the same line of business
- Residence & office stability for 3 years
- Financial documents –Last 6 months bank statements .If you don’t have ITR’S then our team will work with you for variety of documentation alternatives