Debt Consolidation Secured Business Loan
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As a business, debt may be a part of your growth story. Borrowings help businesses fund growth and innovation. But if you have multiple loans and these borrowings have come at a high cost, it's time to consolidate your debt. Consolidating your debt will free you from the hassle of dealing with multiple creditors, reduce cost of borrowings and streamline repayment.
Our Secured Business Loans are designed for enterprises like yours who have a hard time dealing with fragmented debt. With loans up to ₹ 25 lakh, you can settle all your lines of debt and benefit from our lower EMIs and flexible repayment plans.
With longer tenures and competitive rates, our Secured Business Loans are ideal for micro, small and medium enterprises.
We understand that as an entrepreneur you would like to spend most of your time developing your business rather than dealing with creditors. So, start consolidating your debt today with Secured Business Loans from Piramal Finance.
However, Director of listed Public companies will be treated as Salaried
| Interest Rate | |
|---|---|
| Customer Type | Rates |
| Salaried / Self Employed | Interest Rates starting from 12.5%* p.a |
| Fees & Charges | |
| Fees & Other Charges as applicable on application/ during the term of Loan are as under. These are subject to modifications from time to time as decided by Lender as per its internal policy and any such modification shall be notified by the Lender through its website or its branches or such other medium as Lender may consider appropriate | |
| Schedule of Fees & Other Charges | Details |
| Processing Fees |
|
| Part Payment/Pre-closure charges |
|
| Loan repayment instrument dishonour charges | ₹ 500/- + applicable taxes |
| CERSAI charges | ₹ 500/- + applicable taxes |
| Loan Pre-closure Statement | ₹ 1000/- + applicable taxes |
| List of documents deposited with the Lender | ₹ 500/- + applicable taxes |
| Loan Repayment Schedule | ₹ 500/- + applicable taxes |
| Change of Loan repayment mode | ₹ 500/- + applicable taxes |
| "Re-scheduling Loan terms (e.g. EMI Date change / EMI increase /Lowering of Tenor" | ₹ 5000/- + applicable taxes |
| No Due Certificate issuance charges | 1st time free; subsequently ₹ 500/- + applicable taxes |
| Statement of Account | Free once a year; subsequently ₹ 500 + applicable taxes |
| Photocopy of documents | ₹ 500/- + applicable taxes |
| Retrieval of original property documents | ₹ 500 + applicable taxes |
| Additional Charges | 2% p.m. on Outstanding Amount for the non-compliance of any terms and conditions of the Transaction Documents by the Borrower, for the period beginning the date of such noncompliance until the same is cured to the satisfaction of the Lender + applicable taxes |
| For detailed fees & charges and other Terms & Conditions click here | |
Application form with a recent photograph
Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
Application form with a recent photograph
Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
The rate of interest for the same tenor for different clients can be different depending upon the combination of one or more factors listed above.
The loan you take by keeping a self-owned property as collateral is called a loan against property (LAP) or a secured loan. The value of the property determines the amount of loan that can be sanctioned. The property will be owned by the lenders if you are unable to pay the loan.
Lenders look at your repayment capability and asses your eligibility based on your income, age, employment stability, and other assets and liabilities. The loan doesn’t exceed more than 60% of the property market value. With a co-applicant, a higher amount can be lent.
With a loan on property, you can use it for any purpose, similar to a personal loan. From renovating your home, starting a business, funding medical expenses or even going on a long vacation, you can take a loan to fulfil all your needs.
You can avail loan on property using
The necessary documents for a loan against property are (may vary for salaried and self-employed professionals):
We are in the business of financial planning but the day I finalised my property, I needed to get a loan and I found Piramal to be the best option. They cater to all the requirements of the customers and helped me at every single step along the way.
I have availed Loan From Piramal Finance for Business Expansion. I was attended with utmost professional attitude and perfection. Piramal Finance very patiently answered all my queries and resolved all doubts. Once again, thanks a lot for serving my needs with such warmth.
I was very much delighted with the way the loan was disbursed. I would like to also thank for the quickest response by Piramal Finance executive. The loan was disbursed in a week’s time in a hassle free manner.
Appreciate the efforts of Piramal Finance for quick and smooth processing of my Loan Against Property. Piramal Finance team understood my requirements and explained the process, product details and required document list. Piramal Finance was helpful in every step and gave me quick loan sanction. Thank you Piramal Finance.
