Loans

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Loans

From establishing a business to owning a home, people need money for different purposes. At Lokmanya, this lending is made simpler for people through a wide range of loans designed to cater to different needs of the people.

 

Industrial Loans

Here’s a loan that is offered to manufacturing units and other forms of businesses, in order to meet purchase and other expenses to achieve faster and higher growth.

  • Loan applicable for: SSI, other manufacturing and processing industrial unit to meet their need for establishment of new unit, purchase of plant and machinery
  • Interest Rate: 17%
  • Loan Amount: Up to the 75% of the value of plant and machinery and stock

Mortgage Loan

  • Interest Rate: 18% reducing balance
  • Loan applicable for: Emergency expenditures, medical expenses, home improvements etc.
  • Loan Amount: As per eligibility

Housing Loan

A hassle-free and customer-friendly loan to assist the people in fulfilling their dream of owning a home for their loved ones.

  • Loan applicable for: Construction/purchase of new house (1st or 2nd), repair/renovation of existing one and repayment of existing loan.
  • Interest Rate: 17% reducing balance
  • Processing Fees: 0.70% and other charges plus service tax as applicable
  • Loan Amount: 75% of the total cost (purchase value of property/repair value)
  • Maximum repayment period: 15 years (for construction/purchase)

Hypothecation Loan

A type of loan that is provided to cater to the purpose of growth of a firm or company, wherever possible, by taking land/building owned by applicant as collateral security.

  • Loan applicable for: Purchase of new 2/4 wheelers for personal or professional use, purchase of machinery or equipment or meet personal expenses
  • Interest Rate: 16% reducing balance
  • Processing Fees: 0.70% and other charges plus service tax as applicable
  • Loan Amount: 90% of Cost of vehicle +Registration Charges + Insurance.
  • Maximum repayment period: Not more than 7 years

Personal Loan

A type of loan that allows individuals to address emergencies and contingencies and support them in realising their dreams.

  • Loan applicable for: Medical emergencies, wedding expenditures, vacation plans and other needs on an individual or a family level.
  • Interest Rate: 19% reducing balance
  • Processing Fees: 0.70% and other charges plus service tax as applicable
  • Loan Amount: As per eligibility and income
  • Maximum repayment period: Not more than 7 years
Peroid Interest Rate(P.A)
1 Year 7.5%
2 Years 8.5%
3 Years 9.5%

By submitting this form, I agree that the representative of Lokmanya Multipurpose Co-op Society Ltd. can contact me to explain the features of the product & services.