loan

Asset Based Finance (Hire Purchase)

Loan available under this scheme is for the purchase of asset like care, automobiles, two wheelers, truck, bus, taxies and consumer durable products.

Loan Amount
Minimum of Rs. 1,00,000.00 to maximum of Rs. 5,75,00,000.00.

Tenure
Any period between 12 to 36 months.

Security
As per company rules

Processing Fee
One time service charge (non-refundable) 1% on the loan amount.

Mode of Re-payment
Monthly and quarterly installments.

Documentation Required

  • Recent Pro-forma invoice of the vehicle/article to be purchased, in the name of LAFIN
  • Certified copy of place of business, employment / resident.
  • Recent passport size photograph.
  • Citizenship
  • If employed, salary certificates from the employer stating the employment record and tenure of service.
  • Companies, Memorandum and article of association, at least two years of audited balance sheet and P/L accounts. Income tax documents.
  • Board resolution authorizing an executive to deal on behalf of the company.
  • Necessary security documents e.g. lalpurja, tiro raceed, napi naksa, char killa pramanit chhithi, tax clearance document of the house.