Services
Our Services
Personal Loan
We are well-aware of the present tragic times, and how everything that you might have planned have been postponed. We at Prakash Finance, provide our end-users with personal loan feature which will allow you to fulfill your variety of requirements. You can borrow loan from us with minimal documentation and eligibilities that are easily met. This loan is great for you if you have an immediate requirement.
Features:
- You can get loan easily if you are already a member of Prakash Finance.
- Get loan within a day of submission of documents.
- Flexible tenor to repay allowing easy repayment.
- Attractive rates on loans to give you comfort.
Eligibility:
- Salaried individuals as well as self-employed individuals can get these loans.
- Prakash Finance members can check eligibility within seconds.
- Borrower should be within the age group of 21 and 60.
Business Loan
Prakash Finance provides loan to small and large businesses depending upon their credit score. The loan is issued within 24 hours of request submission for easy business growth. This loan can fuel your business towards success and make your business profitable and successful.
Features:
- You can borrow large capital with minimum documentation.
- The loan is backed with the Flexi Loan facility.
- No need to add any collateral for the loans.
Eligibility:
- Self-employed and business owners can apply for this loan.
- The business should have a minimum turnover in a year.
- Businesses should have minimum 3 years of experience
Home Loan
Prakash Finance offers you attractive home loan policies with easy repayment options. Now getting into your home has become possible. Our housing loans are customized for salaried and business owners.
Features:
- Loan could be issued on Flats, Row House, bungalows and other houses.
- Expert technical counselling sessions
- Home loans for properties owned by city development authorities.
Eligibility:
- Available to individuals with a minimum monthly income
- People with good income history
Mudra loan
The scheme allows individuals to borrow money from us within the PMMY scheme.
Features:
- Shishu Loan with loans up to 50,000 INR.
- Kishor Loan with amount up to 5 lacs INR.
- Tarun Loan with amount up to 10 lacs INR
Eligibility:
- Applicable to non-farmer firms who are in manufacturing, trading and other services.
- Based on growth and development a person could get any from the three types of loans.
Loan against Property
The loan against property is based on a very simple concept where you get the amount of money for the land where you get up to 60% value of money for your property. Prakash Finance can give you a very attractive interest rate over the loan again property to help you with your needs. With this money, you can fulfill your personal needs or handle your business. The Personal funds you want maybe for your Children’s education or may it be the dream wedding of your son or daughter. The business needs can vary but most commonly it is used to fund your business.
Features:
- Get better loan amounts
- Easy and flexible repayment process
- Quick issue of loans
- The processing of loans is transparent
Eligibility:
- Must have a property against which you can get your loan
- Employee should have minimum monthly income of 25,000
- Self-employed or salaried employee both can request for loan
- The tenure for returning it will be 15 years
CC & OD Limit
The Cash Credit account is an account with the benefit of being able to withdraw money from an active bank account even when there is no credit balance but with the limit to the extent of the borrowing limit. CC account should be used for business purposes and it does not reduce over time. Whereas the OD account can be used for any purpose and a monthly reduction in amount takes place.
Features:
- The permitted loan amount ranges from 10 lakhs (minimum) up to 3crs.
- The facility renewal takes place at the end of 12 months from the date the facility was availed.
- There are no Commitment charges.
Eligibility:
- The minimum age of the applicant when applying for the loan should be 21 years and a maximum of 70 years at the end of the tenure.
- Minimum income in the case of individuals should be 2.5 lakhs as per ITR for the last 2 years and in case of non-individuals, Rs. 3 lakhs for the last 2 years.
- Business vintage must be for a minimum of 3 years.
- The office/residential property must be owned.
Project Finance
Project finance is the financing of long-term industrial projects and infrastructure dependent on the estimated cash flow of the project. The debt and equity used to fund the project are paid back from the cash flow generated by the project. It mostly attracts private sectors as companies can fund major projects off-balance sheets.
Features:
- Project finance will provide you with persistently limited recourse or non-recourse loans which are used to fund large commercial, industrial, and infrastructure expansion all over the world.
- The debt and repayment pattern will be based on the project finance model and not on the balance sheets of the project sponsor.
- Project finances comprise of numerous equity participants who act as the project sponsors or investors.
Eligibility:
- The applicant should have the address proof as well as the identity proof.
- The purpose of the loan should be stated.
- Bank statements of all active bank accounts of the company, director or partner.
- Latest bank statements of all active loans.
Machinery Loan
Machinery loan is a type of loan that businesses take to purchase machinery for their ventures. Heavy machinery and equipment are costly; therefore, most companies take a machinery loan to buy the best machinery for their business. This is a great choice for small and medium scale ventures.
Rate: machinery loans are available at an interest rate of 15% or above.
Features:
- Businesses can get Rs.10 to Rs.20 lakh funding for buying the latest equipment and machinery.
- People can apply for a machinery loan online. There is no need to be present physically to get the projected amount.
- Businesses don’t need a guarantor to avail benefits of the machinery loan.
- Machinery loan is also available as a Flexi loan facility.
Eligibility:
- Age between 25-55 years.
- Proof of running a business.
- Income tax statement of the applicant.
- The applicant must have all the necessary documents like identity proof, address proof, financial documents, etc.
We Provide the Best Service in Industry
We are here to help with your finance-related needs and make your business grow with full potential with no worry about investment. A flexible repayment period allows easy repayment of loans, making your business grow by manifolds.