SRIMAAN CO - OPERATIVE CREDIT UNION (QUASI BANKING) 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.

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Key Features:

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.

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Eligibility:

Individuals, business owners, and professionals with a stable source of income.

Firms and companies engaged in manufacturing, trading, or services.

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Security:

Hypothecation of the asset purchased or financed.

Additional collateral may be required in specific cases.

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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.