As we all know, secured loan is always better then unsecured loan for any of the banks or NBFC’s. Unsecured product does not have long tenure and low interest rates program. Banks and other finance companies are focusing secured loan rather than unsecured loan. Here we have another program which is very popular in all the banks and finance companies. This program is known as liquid income program. In this program approximate 40% of market value of the property is considered as loan amount. This program is unique program where customer does not require high bank balance or high average bank balance. No need to compulsory requirement of showing regular ITR. This is one of the best programs for property loan or home equity loan in Indian market. We know most of population of business segments comes from SME category. After establishment of any business unit, it takes time to come any unit to be a profitable company.

Liquid Income Program – Bank & NBFC

Banks and NBFC’s are providing instant loan in all the metro and semi metro cities like Pune, Bangalore, Hyderabad, Indore and many more cities where mortgage loan is availed expressly. We take an example for the importance of liquid income program for LAP. We all are very well aware with our Pune city. Pune is one of the famous city for SME segment being one of the biggest industrial hub in India. More than 10 thousand small units are placed and they are doing well.  Despite their better performances, they might not be eligible for loan because of insufficient bank transaction or low income ITR. If banks do not have liquid income program, most of the SME of self-employed customers get declined due to low income scenario. There is majority of the lower middle class SME segments in Pune. Biggest challenge in LIP is the uncertainty of availing proper credit validation of customers. There are six types of property available in Pune which are approved by different approver authority. 1st is NA property which is proper approved by district Collector, 2nd is call as Gunthewari which is approved by municipal corporation and 3rd is Gram Panchayat which is approved by Sarpanch and Panchayat secretary, 4th is Town planning sanction which is authenticate, 5th is MAHADA, 6th is cantonments approved property which is not doable for loan because cantonments board does not provide NOC for the property. So LIP is the very important program in LAP.

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