Can I apply for Stress Assets Loan in bad cibil score?
For applying Stress Assets Loan your cibil score should be above than 750.
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | |
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10%
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1%
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| Bank Name | Min Interest Rate | |
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10% |
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Generally, stress assets are the core indicator of banking health. The quality of assets ratio tells the quantity of loan availed by borrowers whether repaid interest & principal amount. This facility provides credit to the promoter of stress assets MSME Sector.
There are few eligibility criteria you are required to have a look before applying for loan
There are Top factors that generally affects Stressed Assets Finance Eligibility Criteria as given below :-
Due to Incomplete Documentation: - One of the major reasons behind affecting the eligibility is incomplete documentation, for applying any kind of loan proper document requirement is the basic criteria of all banks & NBFC, due to incomplete docs your application will get rejected.
Irregular behavior in payment: - Lender will go through your application & check your credit report to know about past performance on doing payments & all, if it seems like you had irregular, default in making payment will affect your eligibility.
To increase Stressed Assets Finance eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level :-
Do payment on time: - This can be the best way to increase eligibility as lender will consider your past repayment history by checking your credit score. Therefore, by giving importance to do payment on time will rescue from affecting credit score as well as eligibility.
Maintain good credit: - Pay your loan EMI, bills on regular basis to avoid any kind of score affect in credit. If you are looking to close old credit cards, avoid doing that, as it can help you increasing credit limit as well as loan eligibility.
Can I apply for Stress Assets Loan in bad cibil score?
For applying Stress Assets Loan your cibil score should be above than 750.
How we can get Stress Assets Loan?
You can get a Stress Assets Loan from financial institute, or a Private and Government Bank.
What are the benefits of Stress Assets Loan?
How much loan I can take for Stress Assets?
You can take up to 50 crores as a Stress Assets Loan.
What is a non-performing asset (NPA) in Stress Assets Loan?
NPA is a loan whose interest and/or instalment of principal have not paid (due) for a period of 90 days.
How I can get a Stress Assets Loan?
Select your Ideal Bank or you can apply through website. submit an application for a Stress Assets Loan along with required documents and wait for approval.
What is Stress Assets Loan?
A Stress Assets Loan is a combination of NPA, restructured loans and written off assets
Want to get financial service? Advise by CA Vikas Jain
CA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
Read MoreCA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
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