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SMC Finance Loan against property
SMC Finance Loan against property
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SMC Finance Loan against property
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SMC Finance Loan against propertyHere are a few factors
| Location | 60km from Branch |
| CIBIL Score | 650+ |
| Applicant | Any Self Employed |
| Applicant Age | 18 Year to 65 Year |
| Loan Amount & Tenure | 10
Lac-500 Lac (5 Year to 15 Year) |
| Login Fees | Nil |
| Rate of Interest & Type | 11% to 18% (Reducing) |
| TAT | 4 Days |
| Processing Fees | 1.5% to 3% |
| Foreclosure Charges | Upto 4%+GST |
| Insurance | As per Age of Applicant |
| Minimum Business Vintage | 2 year |
| Lock In Period | 12 Month |
| Part Payment Allowed | No |
| LTV | (i)
Residential-70% (ii) Commercial-60% (iii) Industrial-60% (iv) if residential property is rented/vacant then LTV will be 10% lower (v) If Commercial Property Puchase/vacant/rented then LTV will be 10% lower |
| Product | (i) Fresh LAP (ii) BT+Top UP (iii) Seller BT (iv) Commercial & Industrial Purchase |
| Program | (i)
LIP Program-3Cr (ii) Banking Program-5 Cr (iii) Income Program-5 Cr (iv) without ITR-1 Cr (v) GST Surrogate-5 Cr |
| FOIR | 90% of Cash Income |
| Cautious Profile | No |
| Negative Profile | (i)
Salaried Applicant (ii) Real Estate (iii) GYM (iv) Share Traders (v) NBFC
(vi) Liquor Seller (vii) Politician (viii) DSA Profile (ix) Applicant living in dominated area |
| Funded Property | (i)
Residential Property (ii) Commercial Property (iii) Industrial Property (iv)
Current Sale Deed (v) Khasra Khatauni (vi) Multi Tanented Unit-Upto 10 Tanent(vii) Lal Dora (viii) Stone Slab Property (ix) Sub-divided Property (x) Godown & Warehouse (xi) Commercial Complex & Mall Shop (xii) Subject to Sale Deed Property |
| Negative Property | (i)
School (ii) Hotel, Restaurent & Marriage Hall (iii) PG Property (iv)
Lease hold Property without PTM (v) Demolition List Property (vi) Plot (vii) Hospital |
| Accepted Collateral | Other than Negative List |
| Specific Property wise Funding Limit | (i)
Lal Dora-3 Cr (ii) Stone Slab Property-3 Cr (LTV max 50%) (iii) Sub-divided Property-3 Cr (iv) Single Sale Deed-3Cr |
| Any Specific Product for Professionals | No |
| USP | Without Financial upto 1 Cr |
| Additional | DOD Product, LRD Product not available |
SMC Finance Loan against property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 11 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,838 |
| Total Interest | ₹ 6,058 |
| Loan Amount + Interest | ₹ 106,058 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,982 | ₹ 2,532 | ₹ 26,514 | ₹ 76,018 | 23.98 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,015 | ₹ 3,527 | ₹ 79,542 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for SMC Finance Loan against property
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
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