Secured Loans

Secured Loans at Samarth Credit Co-operative Society

At Samarth Credit Co-operative Society, we understand that when you need financial support, you may prefer to secure a loan against tangible assets. Our Secured Loans offer you a flexible and affordable way to access funds with the added advantage of lower interest rates and greater repayment terms.

What are Secured Loans?

Secured Loans are loans that are backed by tangible assets as collateral. This means that you can pledge items like gold, property, or financial instruments such as NSC (National Savings Certificate), KVP (Kisan Vikas Patra), and LIC Policies to obtain a loan. The value of these assets determines the loan amount, ensuring both you and the Society have security in the transaction.

Types of Collateral Accepted

You can pledge various types of property as collateral for your loan, including:

  • Gold (Jewelry, Coins, etc.)
  • Property (Real Estate)
  • Financial Assets such as:
    • National Savings Certificates (NSC)
    • Kisan Vikas Patra (KVP)
    • Life Insurance Policies (LIC)
    • Other goods and articles of tangible value

Loan Value and Margin Requirement

The loan amount you can avail will depend on the market value of the collateral you provide. We offer you a loan amount of up to 80% of the value of the pledged security. To ensure a prudent lending process and safeguard your interests, a margin requirement of at least 20% of the security’s value will apply.

For example:

  • If you pledge an asset worth ₹1,00,000, the maximum loan amount you can avail will be ₹80,000, and you will need to maintain a margin of ₹20,000.

Repayment Terms

Our Secured Loans are designed for flexibility, with a repayment period of up to 12 months. This ensures you have a manageable time frame to repay the loan and avoid any financial strain. Whether you prefer monthly, quarterly, or a lump sum repayment, we offer options to suit your financial situation.

Why Choose Samarth Credit Co-operative Society for Secured Loans?

  1. Competitive Interest Rates: Enjoy lower interest rates compared to unsecured loans, making it a cost-effective borrowing option.
  2. Quick Processing: We value your time and ensure fast loan processing with minimal paperwork.
  3. Transparency: We ensure clear and transparent loan terms, so you know exactly what you’re signing up for.
  4. Flexible Repayment Options: Our 12-month repayment term offers you flexibility and convenience.
  5. Easy Access to Funds: By pledging tangible property, you can quickly access the funds you need for any personal or business requirement.

How to Apply for a Secured Loan

  1. Visit Us: Drop by any of our branches with the required documents for the asset you wish to pledge.
  2. Submit Your Collateral: Our team will assess the value of your property and calculate the loan you are eligible for.
  3. Loan Approval: Once your application is approved, we will disburse the loan amount to your account promptly.
  4. Repayment: Start repaying the loan within the agreed time frame, and enjoy peace of mind knowing your asset is safely secured.

 

For more details or to apply for a Secured Loan, visit your nearest Samarth Credit Co-operative Society branch or contact us at 

At Samarth, we’re committed to helping you achieve your financial goals, one secure loan at a time!

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