Loan Term
Upto 10 years
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JANSAMRIDHI LOAN: MICRO LAP
Jansamridhi Loan provides small farmers, self-employed individuals, and rural businesses with easy access to credit by pledging their property as collateral. These loans help them to meet their financial needs without selling their assets.
Our team provide banking/financial services in remote locations where the bank/FIs does not have a presence in order to promote access to financial services.
We offer Micro LAP financing for various property types across all locations, with no restrictions.
Milk farmers, Grocery shops, farmers, vehicle repair etc
Loan Amount
From Rs. 2 Lac to Rs. 25 Lac
USP
- Minimum monthly income of Rs. 10,000 required
- Seamless Paper Work
- Attractive Interest Rates
Documents Required
Application Form
Prescribed KYCs- Latest Photograph
Bank Statement
Property Papers
Loan Letters (If any)
MSME Certificate
Demise of Borrower: Return of Property Documents
Procedure for Return of Original Movable/Immovable Property Documents in the contingent event of the demise of the Borrower(s)/Property Owner(s) after Full Repayment/Settlement of the Loan
Preamble
In the unfortunate scenario of the death of a property owner (mortgagor), the legal heir(s) of the deceased become property owner(s) as per the personal laws of succession and/or the Indian Succession Act, 1925 whichever applicable. This document has been created to share the process of returning the original property documents post the due repayment and closure of the loan(s) availed against the security of the said property, to the deceased property owner’s legal heir(s).
Process to be followed by Branches.
Following will be the process to be followed, together with the documents required to be provided for collection of the original property documents:
Process:
- All legal heir(s) are required to be present for the collection of original property documents.
- Any legal heir(s) who is/are not able to be present to collect the original property documents are required to submit the authority letter in the prescribed format in favour of the legal heir(s) who will visit the Company’s branch office to collect the property documents.
- If any of the legal heir(s) is a minor, the individual collecting the original property documents on behalf of the minor is required to provide an affidavit/ authority from the legal guardian of the minor. The affidavit is required to be notarised and adequately stamped as per the prescribed state stamp laws.
- Bank will not insist on succession certificate/ probate in case of will and/or any other documents as issued by the court of competent jurisdiction establishing the entitlement of the title documents among the legal heirs, from the legal heirs for delivery of Title Documents, except when there are disputes amongst the legal heirs or/and all of them do not join in indemnifying the Bank and where Bank has reasonable doubt about genuineness of the claimant(s) being the only legal heir(s) of the deceased borrower.
Documentation requirement:
- Death certificate of the borrower(s) along with valid (KYC) documentation
- Death certificate of the deceased property owner(s)
- Succession/Heir ship certificate/Probated will, provided by a competent authority as per Succession Law to ascertain the identity of the legal heir(s)
- Self-attested, valid Know Your Customer (KYC) document(s) of all legal heir(s)
- Affidavit in the event that one of the legal heir(s) is a minor (if applicable)
- Authority letter from the legal heir(s) who is/are not available to collect the property papers (if applicable) Annexure A
- Where there are more than one heir and delivery of the documents is required to be made to a lesser number, a stamped letter of disclaimer shall be executed by all the remaining heirs. This should also be attested by a Notary Public. This is in case of only class I heirs (Son, daughter, widow, mother, son/daughter of a predeceased son/daughter. Son/daughter of a predeceased son of a predeceased son, or widow of a predeceased son of a predeceased son).
- The Legal Heir Certificate issued by competent authority/court is to be submitted, wherever available. The Legal Heirs who have obtained Legal Heir Certificate issued by Competent Court shall submit the Legal Heir Certificate, KYC Documents along with covering letter for return of the title deeds
- Death certificate of the deceased property owner(s)
- Upon successful verification of the said documents, the original property documents will be handed over to the concerned party. An acknowledgement toward the same will be received from the concerned party Annexure A
For any queries, please use our following Digital Channels for instant service.
Phone no.: 011-71110100 Extn no. 796.
Website: www.kissandhan.com
Email: [email protected]
Alternatively, you can reach us through the following channels:
Branch: Timings 10 am to 6 pm (Holidays on 2nd & 4th Saturdays & all Sundays)
Need a Loan ?
Our expertise lies in disbursement of loan amount within 48 hours of approval. If you need a loan on your agriculture commodity; you may apply online here and our Relationship Manager will get in touch with you within 24 hours.
Thank you for contacting us we will get back to you shortly!
