Are you an individual or a Small and medium enterprise (SME) in need of working capital to finance your business in order to take advantage of the emerging business opportunities? Our
Title Deed Loans are processed in under two weeks and can be repaid from 3 months till 12 months . The APR is as low as 36%. ( 3% per month).
Eligibility Criteria
• You should either be a salaried employee or a self-employed professional/ nonprofessional.
• Your age should not be more than 60 years if you are a salaried employee and not more than 65 years if you are a selfemployed professional/ non-professional, at the time of loan maturity.
• What can a title deed Loan be used for?
Any loan against a residential or commercial property can be used for both personal and business purposes. In fact, you can use it for anything other than speculative or nonprohibitive activities.
• How does MCL decide on the amount I can get as loan against title deed?
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam sodales nisl sit amet tellus tempor, a dapibus sem facilisis. Nulla volutpat justo et fermentum dictum. Nulla condimentum velit vitae diam pharetra, nec fringilla nibh elementum. Vivamus ac maximus nisi.
• What is the tenure of the loan?
Loans against property has a maximum tenure of 24 months, subject to the condition it does not exceed your retirement age. This condition however can be flexible in certain cases
• How to repay my loan?
You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement.
Can I repay the loan ahead of schedule?
Yes. Prepayment is possible
What security / collateral do I have to provide?
Typically the security for the loan is a first and exclusive charge of the property to be financed, by way of deposit of title deeds and / or such other collateral security as may be necessary. The title to the property should be clear, marketable and free from any encumbrances.
