Loans

1. Gold Loans

Let the gold add glitter to your life. Unlock the value of your gold while you continue to own it.
Sarvvayapi Nidhi Ltd designed to provide liquidity against gold and gold Jewelery without having to sell them. Let your gold help you bring the golden period in your life...

A. Features & Benefits:

  1. Avail Loan upto Rs. 2,00,000 & upto 85% of value
  2. Hassle-free quick processing of loans
  3. Minimum documentation and quick disbursal
  4. Simplified Paperwork.
  5. Easy Payment options.
  6. ATL - Anytime Liquidity
  7. No EMI, Service only Interest and enjoy the Loan facility.

B. Terms & Conditions:

  1. The rate of interest will be @ 1.00% to 1.60% per month dependind upon the loan to value (LTV) ratio. Maximum LTV 85%. Which means one can get the loan upto  85% of the total value of the gold. Lower the ratio lower the interest.
  2. Avail loan amount ranging from Rs. 1000 to Rs. 2, 00,000.
  3. The valuation of the gold ornaments will be done by Sarvvayapi Nidhi through authorized valuer, and the cost of valuation will be borne by borrower.
  4. Two colored photographs of borrower and his/her ID proof are required.
  5. The loan interest will be paid on monthly basis.
  6. In case of nonpayment of interest for 12 months, the Gold ornaments will be sold by Kamla Nidhi.
  7. The expenditure on sale of Gold ornaments plus due loan amount and 5% penalty rest on due amount interest will be deducted and balance amount will be deposited in to loan account.
  8. The borrower has to provide an affidavit declaring the ownership of the ornaments.
  9. In case the borrower does not pay the interest a penalty of 5% has to be paid along with next interest installment.

C.    Loan To Value Interest Table:

Loan Category Loan To Value Ratio Interest Rate Per Month
A 85% 1.60%
B 75% 1.50%
C 65% 1.25%
D 50% 1.00%

 

2. Loan Against Property:

Sarvvayapi Nidhi limited provides loan against property 50% of the total valuation by valuer

Features & Benefits­

  1. Attractive Interests Rates
  2. Balance Transfer Facility
  3. Nominal Prepayment Charges

What are the supporting documents required while applying for the loan?

Common Requirements for all Applicants.:-

  1. Application form duly filled in (with photograph of the entire applicant).
  2. Residence and Age verification, which may be established from the PAN card, Election ID, Passport, Drivers license and Ration card etc.
  3. Copy of approved plan and sanction letter from local civic authority.
  4. Copy of NA permission.
  5. One/two guarantor/s form/s and salary certificates. - If guarantor is in business, copies of I.T. returns or assessment orders for the last three years are required.
  6. Bank Pass-book of statements for the last one year.
  7. Latest salary slip/statement showing all deductions in case of employed applicants.
  8. Certified copies of Balance Sheets and Profit and Loss accounts, IT acknowledgments, advance tax challans (for company / firm and personal account) for the last three years in case of self employed applicants.
  9. Memorandum/Articles of Association for companies, partnership deeds for firms and a brief profile of your company/ firm in case of self employed applicants.

Additional Requirement:-

A. (In case of purchase from builder)

  1. Copy of Agreement for sale.
  2. Copy of registration receipt.
  3. Copy of sanctioned plan & sanction letter of the competent authorities.
  4. Copy of NA permission/ULC order.
  5. Copies of receipts of payments already made.
  6. NOC from builders in our format.

B. (In case of direct allotment in a Co-operative Housing Society)

  1. Allotment letter.
  2. Share certificate, Society registration certificate.
  3. Copy of sale/lease deed in favor of the society.
  4. NOC from society in our format.
  5. Possession letter in original.

3. Loan Against Deposit Receipt:

An ideal way to maintaining liquidity while optimizing the returns of your invested funds.

Loan against Fixed Deposits is a facility offered by Maben to our members against your deposits held with us. For your liquidity requirements, avail 90% of the value of deposits held, without breaking the deposit.

You can avail a loan against the security of TDR / RD deposits.

You need not close the deposit prematurely, and can avail the loan:

  • As an overdraft or as a demand loan.
  • For a maximum of 90% of the face value of deposit and including the interest accrued on the deposit.
  • At an interest rate linked to Deposit Rate against TD/RD deposits. 4% plus the rate interest on deposit amount.