FAQs
FAQs on Business Loan
Gavde Finance Pvt. Ltd. is a RBI registered NBFC based in Mumbai, operating more than 20 years, providing financial services and financing to credible SMEs.
Gavde Finance provides collateral free business loan for SMEs with little paperwork and within 48 hours of submission of all documents / information.
The credible SME applicant must be based in Mumbai with turnover of minimum Rs. 25.00 crores with profitable track record & good credit rating. i.e MSME CIBIL credit rating between CMR 1 to CMR 5.
From Rs. 25 Lacs to Rs. 50 Lacs.
48 hrs from submission of all documents / information.
Minimal documentation to process your application,
- Financials of the last 3 years.
- KYC documents of the company and the directors.
- Bank statement of last 12 months
- GSTN Returns of last 12 months
*Additional Documents may be required.
- By bullet repayment at the end of period of loan.
- Two six monthly / yearly installments.
- The Interest rate charged is competitive i.e. @ 16 to 18.00 % per annum to be paid monthly at the end of each month.
Repayment by Cheque / NEFT / RTGS.
Processing fees upto @ 2% plus GST is applicable on sanctioned amount.
There is a 6 months lock in period for the interest amount. The borrowers have option to pre-close the loan account by paying entire outstanding amount i.e. principle plus interest after 6 months from the date of disbursement without any pre-closure charges subject to 15 days advance notice of pre-closure given.
The borrower is required to pay late Payment fee @ 6.00 % per annum as penalty in addition to regular interest.
FAQs on LAP
Loan against fully constructed, freehold residential and commercial properties, residential plots, Industrial Property, School, Clinics & Nursing Home, Warehouses & loan for purchase of commercial property.
12 months to 240 months.
Business Needs, Marriage, Medical expenses and other personal needs; transferring your outstanding loan availed from another Bank / Financial Institution.
Top Up Loans can be availed for personal and professional needs (other than for speculative purposes) like marriage, Child’s education, business expansion, debt consolidation etc.
All customers with an existing LAP can apply for a Top Up Loan. New customers availing of our Balance Transfer loan can also additionally avail a top up loan. You can apply for a Top Up Loan after 12 months’ of the final disbursement of your existing Loan
Security of the loan would generally be security interest on the property being financed by any other collateral / interim security as may be required by us.
We would only allow you to apply for a joint LAP if the application is co-signed by one or more members of your immediate family. Immediate family members such as your parents, spouse and children are allowed to be joint borrowers in case of a LAP.