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Hypothecation Loan

Hypothecation Loan is provided for the purpose of growth of a firm or company. This type of loan can be considered for SSI, other manufacturing and processing industrial unit to meet their need for establishment of new unit, purchase of plant machinery. The loan can be considered against the hypothecation of plant and machinery and finished/ semi finished goods. Society considers a loan for up to 75% of the value of plant and machinery and stock. Wherever possible, land and building owned by the applicant/ borrower shall be taken as collateral security by the way of mortgage.

  • Member of the Society.
  • Either single account or joint account with other family members, viz. father, mother, wife, son or daughter with regular source of income.
  • Individuals who may be employed/ self- employed in business having regular income. Permanent employee of Central/ State/ Defense/ Police Force/ Public or Joint Sector Undertaking/ reputed firms/ established Educational Institute/ Professional/ Businessmen having regular income.