Asset Backed Credit
Asset Backed Credit is an excellent debt consolidation tool. They are secured loans offered by TJSB Bank using one or more properties owned by the borrowers as security. Along with being cost- effective, these loans are reasonably convenient to avail and repay due to the relatively low interest rate.
All you need to know
- Type of Loan : Term Loan/Line of Credit
- Loan Limit :
Minimum : Rs. 25 Lacs
Maximum : Rs. 3 crores
- Repayment Period : Maximum 120 months including moratorium of maximum 6 months.
- Rate of Interest : 8.99%* p.a.
Who can borrow :
Individuals, Proprietary Firms, Registered Partnership Firms, LLPs, Pvt Ltd Companies, Ltd Companies,etc.*
Prime Security :
Equitable/Registered Mortgage of Immovable Property like
i) Constructed Residential/ Commercial Property
ii) Freehold or Leased Property owned by proprietor/ Partners/ Directors of the business entity or their first relatives
Duly filled form with
i. Income Proof of Applicant(s) & Guarantor(s)
ii. Residential Proof of Applicant(s) & Guarantor(s)
iii. PAN Card of Applicant(s) & Guarantor(s)
iv. KYC of Applicant(s) & Guarantor(s)
- No Prime Security
- Minimum One Guarantor and Security holder to be also taken as guarantors
- Other Charges : One Upfront EMI, Franking Charges, etc.
- Borrower & Co-Borrower :
Regular membership fees:
- @2.5% of loan amount in case of secured advance
- @ 5.00% of loan amount in case of unsecured advance, as applicable. (Max.Rs.5 Lacs)
- Guarantors : Nominal membership