Consumer loan

We at Radhakrishna provide two types of loan facilities for oru customers in this type of loan
1)Margin Money Scheme
2)EMI Advance Scheme

Margin Money Scheme

Period Interest Rate Processing Fee
6Months 11% 2%
12Months 12% 2%
18Months 13% 2%
24Months 14% 2%
Loan amount: 70% of the invoice value

EMI Advance Scheme

Period Advance EMI Interest Rate Processing Fee
6Months 2 EMI 7% 1%
12Months 2 EMI 10% 1%
18Months 3 EMI 11% 1%
24Months 3 EMI 12% 1%

Loan Amount : 100% of the invoice value

Consumer Products

  • Fridge
  • Washing Machine
  • Television
  • Music system
  • Mobile Phones
  • Camera

  • Mixi , Grinder
  • Cooking Range
  • Furniture
  • Air Conditioners
  • Lap Top, Desktop, Tablet, I Pad Etc..

    • Documents Required

  • Application from the Borrower in his own handwriting
  • Proposal for consumer loan
  • Application for consumer loan
  • Particulars of guarantors
  • Proforma Invoice
  • Copy of the latest tax paid receipt (For loans above Rs25000/-only)
  • Bank pass book-Front page with address & 6 months transaction page
  • Pan card of the borrower
  • Pass port size photo of both borrower and guarantors
  • I T return of borrower if available
  • Address proof of both borrower & guarantors
  • Five cheque leaves, with the all the columns, duly filled as detailed below:-
    • 1st Cheque- For the whole loan amount including interest
    • 2Nd Cheque- For 20% of the loan amount including interest
    • 3rd Cheque- For 30% of the loan amount including interest
    • 4th Cheque- For 30% of the loan amount including interest
    • 5th Cheque- For 20% of the loan amount including interest
  • Demand Promissory Note
  • Agreement for consumer loan/li>
  • Other connected document
    • The asset should be covered under comprehensive insurance, wherever applicable