Typical Features

• Unsecured financing for personal needs (wedding, travel, medical, education, debt consolidation).
• Quick approval and disbursal with minimal paperwork (bank salary accounts may get faster TAT).

Basic Eligibility (indicative)

• Salaried or self-employed with regular income; minimum age ~21 years; stable employment/business track record.
• Credit profile (CIBIL ~750+) and income-to-EMI ratio (FOIR) influence limits and rates.

Documents (common list)

• KYC (OVD like Aadhaar/Passport/Voter ID) + PAN, photo.
• Income proof (recent payslips/ITR), last 6 months bank statement, address proof.

Use-Cases

• Working capital (OD/CC), term loans for plant & machinery, inventory, expansion.
• Collateral-free options possible for eligible MSMEs; collateralized loans allow higher limits.

Basic Eligibility (indicative)

• Proprietors/Partnerships/Private Ltd. in manufacturing/trading/services.
• Stable operations (e.g., 3+ years), positive profitability track (bank-specific), minimum turnover thresholds.
• Udyam Registration (MSME) recommended for policy benefits and product access.

Documents (common list)

• Application form, photos; KYC & PAN for entity and promoters.
• Business address proof, incorporation/registration docs (GST, Shop & Establishment/Trade License, MoA/AoA or Partnership Deed).
• Last 6–12 months bank statements; last 2–3 years ITR with audited financials; GST returns.

What It Is

Secured loan by mortgaging residential/commercial property; generally lower rates and higher ticket sizes than unsecured loans.

Common Eligibility

• Clear title & acceptable property valuation; salaried/self-employed with stable income.
• Loan amount linked to property value (LTV as per lender policy) and repayment capacity.

Documents (indicative)

• KYC & PAN; income proof (payslips/ITR, bank statements 6–12 months).
• Property papers (title deeds, chain documents, approved plan, tax receipts, NOC as applicable).
• For self-employed: business proof and financial statements.

Where It Fits

• New/expansion projects needing long-term funding for fixed assets, infrastructure, construction, P&M.
• Typically includes moratorium during construction; structured repayment post COD.

What Lenders Look For

• Promoter profile & equity contribution, project viability (DSCR), contracts/permits, tie-ups.
• Collateral/security as per policy; need-based limits and tenors.

Key Documents

• Detailed Project Report / Information Memorandum (scope, costs, timelines, revenue model).
• Financial model & projections, past financials, sanction/approval papers, collateral details.