Dhanam Ready Money Loan

Purpose Of The Loan

For meeting following business/ personal needs.

1. Business requirements

v	Investment in fixed assets such as business premises, furniture and fixtures for business premises, IT systems, interior decoration, machinery, equipments, construction of factory/office buildings or repairs/renovation thereof etc.

v	Working capital requirements for trade/manufacturing/service sectors

v	Infusion of long term WC

v	Mismatches in cash flow

v	Payment of duties/taxes etc.

v	Setting up/expansion of small business/trade

v	Contractors for earnest money deposits, undertaking contract works

v	Professionals such as doctors/chartered accountants etc. for setting up clinics/offices

v	Agriculturists/planters for asset creation/periodical agri. operations

v	Purchase of vehicles

2. Personal needs

v	Children’s education/marriage etc.

v	Acquisition of consumer items

v	Investment in permitted securities (complying with relative RBI guidelines)

v	Acquisition of assets such as vehicles

v	Medical expenses

v	Travel expenses

No loan for speculation, hoarding or activities which are restricted by Government/RBI or any other regulatory body.

Eligibility

v	Individual businessmen who are over 21 years of age. Upper age to be considered in such a way that the repayment of the loan would be completed before the applicant reaches the age of 65 years.

v	Proprietorship/partnership firms that have been in existence for at least five years.

v	Limited liability companies which have been in existence for at least five years.

v	Professionals such as doctors/dentists/chartered accountants etc. who have been practicing for at least three years.

v	Permanent employees of Central/State government/profit making Public Sector Undertakings/Blue Chip private sector companies/reputed institutions with a minimum of three years of service.

v	Planters with minimum land holding of 10 acres and who pay Agricultural income tax.

v	Trusts and societies would not be eligible.

Amount Of Loan

v	Minimum amount: Rs.1 lakhs.

v	Maximum amount: Rs.300 lakhs.

Security

v	200% by way of RE

v	Loan/advance upto 75% of the assessed/market value of other securities like Government bonds/securities, gold, Life Insurance Policies etc.

v	Post Dated Cheques covering the installments.

Rate Of Interest

BPLR + 1%

Loan Period :

v	Six months to five years

Repayment

v	EMIs/quarterly/half yearly/annual/bullet repayment depending on the nature of identified cash flow.