Shrimant Malojiraje Sahakari Bank Ltd.

Hypothecation Loan

Purpose	For purchase of Consumer Goods / Furniture & Fixtures etc. Purchase of New / Old machinery / equipment’s
Who can Benefit this Loan	Any Account Holder who is Businessman / Professional with repaying capacity
Eligibility	For purchase of flat / Bungalow etc. Registered Agreements value plus stamp duty, registration fees or value as per valuation form our panel valuer whichever is less. For construction of house, bungalows, etc. and Additions / alterations / repairs – As per estimate / quotations submitted.
Loan Amount	75 % of invoice price of consumer durables to be purchased.
Margin	25%
Security	Hypothecation of consumer durables to be purchased Additional Collateral Security ( If required )
Insurance	Must be insured with full value of consumer durables with Bank's clause.
Repayment Payment	Maximum 84 months
Moratorium	Moratorium period allowed
Documents	Loan Application form Current Account Statement for verification Certified audited balance sheet for last 3 years List of Machinery with valuable quotation last three years Income proof of Borrower & Guarantors KYC of borrower and Guarantors Last 3 years of ITR or Project Report Income proof for last three years if businessman / current 3 months’ payslips if salary earner, IT return last 3 year Copy of rent receipt / maintenance receipt / leave and license agreement Statement of Annual turnover of accounts with other financial institutions Sale / Purchase / Service charges received / paid from the date of last balance sheet till last completed month
Positive points	No Prepayment charges No Pre Closure Charges Repayment EMI at monthly rest

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