Secured Business Loans for Professionals
Hassle free way to transform or add new equipment to your practice
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Don't let the lack of funds come in the way of business success. Leverage your passive assets such as residential, commercial or industrial property to get a highly competitive Secured Business Loan. You can use the funds to make capital investments that can take your business to the next level.
With loan amounts of up to ₹ 25 lakh, our solution is ideal for retailers, entrepreneurs and businesses who need a little capital to help them go a long way.
Build a competitive edge for your business by investing the funds in modern infrastructure, new machinery, or digital transformation.
At Piramal Finance, we make the application and disbursal process quick and convenient because we understand that your time is valuable and best spent in growing your business.
A dedicated relationship manager will handhold you through the entire process. And, what's more, we offer doorstep service so you don't have to step out of your office.
However, Director of listed Public companies will be treated as Salaried
Interest Rate | |
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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 |
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Part Payment/Pre-closure charges |
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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):