FAQ
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General

How quickly can I expect funding for my business?

We at Starfinserv follow an evaluation process. After the evaluation process is through and the eligibility criteria are met, the loan is processed in a span of 5 working days. And in cases which involve customer availability for completing a field investigation or title search and valuation of a property, within 25 days. All loan approvals are at the sole discretion of the institution.

What documents need to be provided?

The prospective client must provide the following:

  • Completed Loan Application form
  • Photo ID
  • Last (3) most recent company audited financial statements
  • Last (3) most recent income tax returns/assessment orders (personal + Company)
  • Last (3) most recent, consecutive months of operating bank account statements
  • Last (3) most recent, consecutive months of credit card processing statements
  • Original Title Deeds of the property to be mortgaged
  • Valuation report from the approved individual
  • Guarantors Consent Letter

Are there any application fees?

Yes we do have application fees. Do provide the details of the loan required to info@starfinserv.in or reach us at 040-4949-2000 and we can provide the details.

How quickly can I expect funding for my business?

We at Starfinserv follow an evaluation process. After the evaluation process is through and the eligibility criteria are met, the loan is processed in a span of 5 working days.

Can additional funding be provided for my business at a later stage?

Yes we do! This involves another round of screening and evaluation based on previous success rate. To know more, write to info@starfinserv.in or reach us at 040-4949-2000

What are the loan tenure options for Business Loan?

You can repay your loan over a period of 12 to 24 months

What security do I need to provide to obtain a Business loan?

To obtain the loan, one has to provide any movable or immovable property / assets as security or collateral.

What property can be considered as collateral?

You can provide your self-occupied Residential or Commercial property (Shops and Offices) as collateral.

How much loan can I avail as a business loan?

You can avail a loan from INR 1,00,000 to INR 25,00,000 depending on your income/revenue, repayment capacity and respective location product cap.

How do I repay my business loan?

You pay the loan in equated monthly installments. The loan will be paid through post-dated cheques or through standing instructions to debit your bank account with the EMI amount.

Can I repay the loan earlier for business loan?

Yes, you can choose to repay your loan any time after 6 months of taking the loan and after you have paid 6 EMIs. Please note loan can be foreclosed by providing a bank's demand draft / banker's cheque. Kindly note that cash or personal cheque will not be accepted for loan repayment against full closure/matured loan closure payment.

What will be done with the postdated cheques if I request to change the mode of repayment/ account for my loan?

Post Dated Cheques (PDCs) / Security Cheques submitted towards loan repayment that have not been en-cashed, will be defaced and retained. In case, you wish to have your old Post Dated Cheques (PDCs) / Security Cheques to be returned to you, kindly submit a request within 45 days from the date of application of change in repayment instructions. In case, we do not hear from you within the stipulated period, the defaced cheques will be destroyed.

How can I change the mode of repayment / account for my loan?

In the event that you wish to change the mode of repayment / bank account for your loan repayment, you may visit our office and submit your request with the revised account mandate / instructions.