Sri Sudha Co-operative Bank Ltd. offers Hypothecation Loans to meet the financial needs of individuals, professionals, and businesses. This loan is provided against movable assets such as vehicles, machinery, or stock-in-trade, which remain in the borrower’s possession but are hypothecated to the bank as security.
Features & Benefits:
► Purpose: For purchase of vehicles, machinery, equipment, or for working capital requirements.
► Ownership: The asset remains in the borrower’s name, with hypothecation in favor of the bank.
► Flexible Repayment: Convenient EMI options as per the borrower’s income and repayment capacity.
► Competitive Interest Rates: Attractive and affordable interest rates.
► Quick Processing: Fast approval and minimal documentation for eligible applicants.
Eligibility:
► Individuals, business owners, and professionals with a stable source of income.
► Firms and companies engaged in manufacturing, trading, or services.
Security:
► Hypothecation of the asset purchased or financed.
► Additional collateral may be required in specific cases.
Documents Required:
► Duly filled loan application form.
► KYC documents of applicant and guarantor(s).
► Proof of income (IT returns, salary slips, or business financials).
► Invoice or quotation of asset to be financed.
