loan against property
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Star Loan Against Property Scheme
- PURPOSE :
- To meet the credit needs of trade, commercial activity, other general business/profession, as also for their bona fide requirements;
- Suitable declaration to be submitted by the applicant regarding the purpose.
People engaged in trade, commerce and business, professionals, self-employed, individuals with high net worth, salaried people, Proprietary firms, Partnership firms, Companies (Pvt. /Public Ltd.,) HUFs (excluding partnership firms where HUF is a partner), Societies, Staff members, NRIs- subject to compliance of Bank s/RBI guidelines.
a) Individuals in permanent service max. 60 years.
b) For Proprietary concerns/Self Employed/non-salaried people Maximum -70 Years
(Age limit is the maximum age at the end of the repayment Period);
Demand/Term Loan , Overdraft (Reducible/Non-Reducible)
The quantum of advance to be related to the value of security, margin requirement , take home pay and repayment capacity of the proponent , subject to limits as under :-