The middle class families in urban areas are in need of money for many social obligations, such as marriages and also for productive purposes like acquiring plots of land, constructing houses or making improvements to the house property. In order to meet the credit needs of such people, we offer four kinds of loans to our borrowers:-
|
|||
| 1. LOAN ON HOUSE PROPERTY | |||
| a. Loans are given on the mortgage of landed house properties/Flats situated within the city limits of Chennai | |||
| b. Loans are given on the basis of valuation subject to a maximum of 50% of the value arrived y the appraiser and again subject to repaying capacity and legal opinion | |||
| c. Tenure of the loans vary from 42 months to 84 months. Borrowers have a choice of choosing any tenure based on their repaying capacity | |||
| d. Interest on loans are at 15% p.a for 42 months and 17.4% p.a for 48 months/60months/84 months | |||
| e. Borrowers are required to pay estimation fees as may be decided by the Board from time to time | |||
| 2. LOAN ON GOLD ORNAMENTS | |||
| a. Loans on gold ornaments/gold coins etc are given subject to a maximum of Rs.15 lakhs per borrower | |||
| b. Interest on gold loans are fixed at 15% p.a. for fresh loans | |||
| c. Loan on gold ornaments are given at the rate of Rs.2000/- per gram. or at such rate as the management may decide from time to time | |||
| d. The maximum tenure of the gold loan is 12 months after which the loan has to be repaid/renewed as per the regulations of the Ministry of Corporate Affairs | |||
| e. Borrower has the option of redeeming jewels item by item | |||
| 3. LOAN ON DEPOSITS WITH THE COMPANY | |||
| a. Loan on deposits are sanctioned by the Company subject to a maximum of 75% of the deposit amount | |||
| b. The tenure of the deposit loan shall not exceed the remaining tenure of the deposit period | |||
| c. The interest on loans on deposits will be 3% more than the rate of interest availed on the FD/RD deposits | |||
| d. The interest on loans on deposits will be 5% more than the rate of interest availed on the RID deposits | |||
| 4. LOAN ON NSC ,GOVERNMENT SECURITIES AND INSURANCE POLICIES | |||
| a. On Government Bonds and other approved securities, company grants loans up to 75% of the market value or face value whichever is less. | |||
OUR BRANCHES
Madipakkam
No. 26 velachery Main Road Sadasivam Nagar Madipakkam Chennai-600091
PH: 45583203
Peravallur
No.164, Paper Mills Road Peravallur
(Near Ponnu Supermarket)
Chennai-600082
PH: 42693203
Office Hours
WEEKDAYS (EXCEPT FRIDAY)
9.00A.M TO 12.30 P.M
1.30 P.M TO 4.30 P.M
SUNDAY
9.00 A.M TO 12.30 P.M
Transaction Hours
WEEKDAYS (EXCEPT FRIDAY)
9.00A.M TO 12.30 P.M
1.30 P.M TO 4.00 P.M
SUNDAY
9.00 A.M TO 12.00 P.M
Appadurai Buildings". Regd. Office : No. 173, Vellala Street, Purasawalkam, Chennai - 600 084. Phone : 044 - 2642 1212/ 2642 3203. Email : theppf@gmail.com
Copyrights © 2014