401-4th Floor,K.C.Complex,
Opp. Daulat Bagh, Ajmer (Raj)

1800-180-6014
01456610100

Mon - Sat 10.00 - 18.00
Sunday CLOSED

Overview

What exactly is NPA Finance

A Non-performing asset (NPA) is a credit facility in respect of which the interest and/or installment of Bond finance principal has persisted ‘past due’ for a specified period of time. NPA is used by financial institutions that refer to loans that are in jeopardy of default the so-called NPL. Once the borrower has failed to make interest or principle payments for 90 days the loan is considered to be a non-performing asset. Non-performing assets are dubious for financial institutions since they depend on interest payments for income. Troublesome pressure from the economy can lead to a sharp increase in NPLs and often results in enormous write-downs.

Merits/Pros

Better and speedier realization

Transparency and visibility of information

Help from facilitators

Better efficiencies in the management

Improving Processes

Relying Less on Restructuring the Loans

Documents Required

Proof of individual’s identity (We also require same KYC of co-applicant)

ID Proof, (if any)

  • PANcard compulsion
  • Aadhar Card
  • Voter ID
  • Driving License

Residential Proof (any of two)

  • Ration Card
  • Electricity Bill (latest)
  • Water Bill (latest)
  • Landline Bill (last three months)

(Relationship proof to be taken, in case of no separate residential proof available).

Income Documents

For Salaried

  • Latest 1 month salary slip
  • Last 1 year form-16
  • 4 months salary slips in case of variable salary

For Business

  • Last 2 year ITR with CA certified or audited financial ITR.
  • Partnership firm last 3 years ITR.
  • Balance Sheet all scheduled and tax-audited report.
  • Copy of partnership and of partnership firm

Banking Documents

For Salaried

  • Last 6 months banking showing salary credit.
  • Banking of other accounts from where EMI of loan are being repaid.

For Business

  • Latest 6 months banking of CC limit & customer current/saving accounts.
  • Banking of other accounts from where EMI of loan are being repaid.

Compulsory Documents

  • Office addresses proof to be taken as per policy.
  • 2 Passport size photographs.

Note- Above mentioned terms & conditions may change from time to time as per company’s policy without notice.