Consolidation Loans from Capital Small Finance Bank
Different loan schemes for debt consolidation from Capital Small Finance Bank.
Capital Small Finance Bank, a small finance bank based in Jalandhar, offers multiple financial products to different segments of its customer base. The bank offers a wide range of loans to suit the different needs of its customers.
Capital Small Finance Bank Consolidation Loans
Capital Small Finance Bank offers specially designed loan schemes to its customers for their varied needs in addition to standard loan options such as home loans, education loans, business loans, etc. One of these options is a consolidation loan.
A debt consolidation loan, simply referred to as consolidation loan, helps the bank’s customers pay off all their debts and consolidate the debts all into one loan which they can repay by choosing terms as per your preference. These can be unsecured loans like personal loans or secured loans like loans against property, gold or securities.
Please note here that Capital Small Finance Bank does not label a specific loan as a consolidation loan. Instead, a few schemes can be used for consolidating debts even if they are not directly labelled so. Here are some of the loan schemes offered by Capital Small Finance Bank that you can avail as a consolidation loan:
- Personal Loan
- Gold Loan
- Mortgage Loan
- Loan Against Rentals
We give you a brief introduction to each of these consolidation loans below. In addition, you have the option to click further and read in detail about each loan (the link takes you to another page on our website). This specific page has been specifically designed so that you can get all the information you need on that loan in an uncluttered and easy-to-read format.
Please note that in some cases information is less or simply not available. In such instances, we have not been able to create a page on that loan as yet, but we may do so in the future if information becomes available.
Capital Small Finance Bank Personal Loan Scheme
This loan is specifically designed for salaried employees of govt. organisations and reputed private organisations as well as self-employed individuals to help them get funds to meet their urgent financial needs. This personal loan can also be repurposed into a consolidation loan to pay off their high-interest credit card debts and loans.
Features of Capital Small Finance Bank Personal Loan
Why this Loan?
- The Capital Small Finance Bank Personal Loan is meant for salaried employees of government units/institutions or reputed private organisations and self-employed professionals/non-professionals who need funds to meet their personal needs. This loan can also be used to pay off high-interest debts, thereby consolidating debt
- This is a collateral-free loan
Capital Small Finance Bank Gold Loan
This scheme helps borrowers access needed funds by pledging their gold jewellery/ornaments. This loan can be used to meet any financial needs such as a wedding, overseas travel, higher education, home renovation, etc. as well as debt consolidation. The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 10 lakh.
Features of Gold Loan from Capital Small Finance Bank
Why this Loan?
- The Capital Small Finance Bank Gold Loan is meant for borrowers who want to get funds by pledging gold jewellery/ornaments to meet their financial needs
- It can also be availed by borrowers as a consolidation loan to pay off their high-interest credit card debts and loans, thereby consolidating their debts
Capital Small Finance Bank Loan Against Property
This loan helps borrowers get access to funds by mortgaging their property to meet their urgent financial needs. Many borrowers use loans against property to purchase a new property, pay for renovation or repair of their home while others avail them to meet the expenses such as those for a child’s wedding, dream vacation, medical exigencies, debt consolidation and so on.
Features of Capital Small Finance Bank Loan Against Property
Why this Loan?
- The Capital Small Finance Bank Loan Against Property is meant for borrowers who want to avail financial assistance by mortgaging their property to the bank to meet their urgent financial needs other than for capital market, business, trading or speculative purposes
- This loan can also be repurposed into a consolidation loan to pay off high-interest debts
Capital Small Finance Bank Loan Against Rentals
This loan helps property owners who have let out or leased their property situated in metro, urban or semi-urban areas to government units, semi-government units, public sector undertakings, financial institutions, reputed corporations, multinational companies, etc. get access to funds to meet their personal needs. This loan scheme can also be used to consolidate high-interest debts.
Features of Capital Small Finance Bank Loan Against Rentals (Loan Against Rent Receivables)
Why this Loan?
- The Capital Small Finance Bank Loan Against Rentals is designed to help borrowers who have let out or leased their property situated in metro, urban or semi-urban areas to government units, semi-government units, public sector undertakings, financial institutions, reputed corporations, multinational companies, etc. get access to funds to meet their personal needs
- This loan can be availed to meet the financial needs for business expansion, education expenses, wedding expenses, purchase of a new property, repayment of existing loans, etc. It cannot be used for speculative reasons
- Borrowers can also avail this scheme to pay off their high-interest credit card debts and loans, thereby consolidating their debts
Interest Rate for Capital Small Finance Bank Consolidation Loans
- The applicable interest rate on these loans is defined as the sum of two factors namely, one-year Marginal Cost of Funds based Lending Rate (MCLR)/Base Rate and (Strategic) Spread. As of October 2020, the one-year MCLR of Capital Small Finance Bank is 9.50% and Base Rate is 10.10%. The Spread factor is decided by the bank based on the loan type, quantum of loan and credit score of the borrower
Documents Needed for Individuals (Salaried and Self-employed)
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
- Income/Banking Proof for Self-employed Professionals/Self-employed Non Professionals: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Capital Small Finance Bank Website: www.capitalbank.co.in
- Headquarters: Jalandhar, Punjab
- Call Centre Number: +181 505 1111