FAQs and Policies

Mr. Robin Banerjee, Independent Director, resigned from Directorship w.e.f. 20th December, 2022

Mr. Robin Banerjee, Independent Director was appointed on the Board of the Company w.e.f. 15th October, 2022
 
Ms. Surekha Marandi, Independent Director was appointed on the Board of the Company w.e.f. 23rd September, 2022
 
Mr. Rajeev Gupta, Director, resigned w.e.f. 18th July, 2022 from the Directorship of the Company
 
Mr. Rajesh Mannalal Agrawal, Independent Director was appointed on the Board of the Company w.e.f. 11th November, 2020
 
Mr. Amitabh Mohanty, Independent Director resigned w.e.f. 17th September, 2020 from the directorship of the Company
 
Mr. Jonathan Lewis, Nominee Director resigned from directorship of the Company, w.e.f. 5th February, 2020
 
Mr. Martin Eric Robinson, Nominee Director resigned from directorship of the Company, w.e.f. 17th December, 2019
 
Mr. Sridhar Srinivasan, Independent Director, resigned w.e.f. 11th June, 2019 from the Directorship of the Company

What we are?

SBFC is a new-age financial services platform that leverages technology and data-science to make lending quick and easy. We give 2 kinds of loans - Secured MSME and Loan against Gold.

How does SBFC differentiate itself?

SBFC has enabled a customer - focused, human approach to lending. Our products are flexible and can be tailor made to suit the unique requirements of our customers. We leverage technology and data science to simplify the borrowing process and make it quick and hassle-free. Our products do away with heavy documentation and mandatory branch visits. The team at SBFC comprises former bankers and finance professionals who have been active in the lending space for over 15 years. The team intends to leverage its deep experience and understanding of financial services and businesses to provide funding solutions to customers as per their requirements. Developing long term, sustainable relationships with customers, providing customized products and ensuring superior customer experience are some of the key focus areas for the team.

What kind of loans does SBFC provide?

We provide 2 kinds of loans - Secured MSME and Loan against Gold.

SBFC provides individuals with long term loans for self-construction and loans against property. Loan sizes range from Rs 2 lakhs to Rs 75 lakhs.

How do I apply for a loan?

You can apply for a loan through any of the following ways:

You can apply directly through our website by clicking on Apply Now.

Contact our Sales team at 022-6831-3333

Email us at customercare@sbfc.com

What is MSME Secured Loan:

MSME loans are specially created loans for the small businesses. These are designed to be in tune with unique requirements which small businesses encounter during various phases of their business. Typical business requirements include new product launch, warehousing needs, expansion to new locations, entering new product categories, hiring new employees, marketing and many more such business related needs

We provide secured loans to small and medium business entities. We facilitate all your needs like business expansion, technology up-gradation, working capital requirement, erection of building and sheds to name a few.

Your property can be a blessing in ways more than one. Unlock the hidden potential of your hard earned property by availing an easy loan against your residential or commercial property. SBFC offers a wide array of Property loans to meet financial expenses pertaining to your business or other requirements.

With a wide presence across the country and an influential network of branches, SBFC Secured Loans provide a host of benefits and unique features completely customised to suit your needs. So if you have a dream or a goal, your property can help you achieve that in the most affordable way.

A Secured Loan from SBFC is a multi-purpose loan that can be availed by mortgaging your existing property in semi-urban or urban locations.

What kinds of businesses does SBFC lend to?

We work with Petty traders, shopkeepers, wholesalers, farm equipment traders, Small & micro manufacturing enterprises, Small & micro service enterprises, Self Employed Professionals etc

For what purpose can I avail a Loan against Property?

You can avail a Loan against Property for any personal or for business purposes provided the end use is not for any speculative or prohibitive reasons.

How will my loan eligibility be calculated?

Loan eligibility is usually calculated basis the repayment capacity of the borrower. Repayment capacity can be ascertained based on factors such as income, age, qualifications, spouse's income, etc. 

What are the Features & benefits of availing Secured Loan from SBFC?

We provide support for overall establishing of your business with quick and hassle free loans. We hold your hand through the entire process with utmost transparency. You can always expect easy and flexible payment terms with us. We give loans upto Rs 100 lacs. The typical tenor of these loans ranges from 5 to 12 years.

What security will I have to provide?

The security for the loan will be the first mortgage of the property to be financed, normally by way of deposit of Title Deeds and/ or such other collateral security, as may be necessary. The title to the property has to be clear, marketable and free from encumbrance. In other words, there should not be any existing mortgage, loan or litigation which is likely to affect the title to the property adversely

How will the loan be disbursed

The loan would be disbursed directly to your operating bank account

What is the tenor of the Loan?

The loan can be for a maximum tenor of 15 Years or up to a maximum age of 65 at maturity of the loan.

When will the repayment of the loan commence

Repayment will commence in the month subsequent to the month in which the loan has been disbursed

How do I repay a SBFC Secured loan?

The repayment of loan is done through Equated Monthly Instalments (EMI). It can be paid through CTS compliant Post Dated Cheques (PDC) or through Electronic Clearance System (ECS).

Can I repay my loan before the due date?

Yes, you can repay your loan at any time during the loan tenor by paying a nominal fee as applicable.

What is a gold loan scheme?

As the name suggests this is the loan given against gold. It's a secured loan that enables borrowers to pledge their gold in lieu of a cash loan. It enables people to utilize their gold assets instead of storing them in lockers. Customers usually go for this loan for short period to meet the requirement of their children's education, marriage and other financial problems in the family.

What is the eligibility criterion to qualify for a gold loan?

For a gold loan, applicants should be aged above 18 years and should have gold that needs to be mortgaged with the bank.

What is the interest charge applicable on gold loan?

The interest rate on your gold loan varies from one lender to another. Please enter your details on our Gold Loan eligibility page and view gold loan offers offered by various banks and private institutions.

How is the rate of interest calculated on a gold loan scheme?

Such schemes determine the repayment by calculating simple interest based on monthly reducing balance. Take for example,

Loan Amount ~ Rs 1,00,000

Duration ~ 12 months

Interest Charged ~ 16%

EMI ~ Rs 9073

Final Payment ~ Rs 1,08,876

What is the maximum amount that can be sanctioned under the gold loan scheme?

The maximum loan amount loan varies from one lender to another. It can range between Rs. 1,500 and Rs 1 Crore depending on the eligibility criteria of particular bank/institution.

How long does it take to complete the gold loan approval process?

If an application meets all the requirements, loan is approved in less than 15 minutes and after that, the loan is disbursed in less than 30 seconds. 

What is the repayment tenor of a gold loan?

A gold loan tenor can vary from 1 day to 3 years.

What are the additional fees that I will need to pay at the time of taking a loan?

A nominal processing fee is levied on your gold loan. The processing fee charged varies from one bank to another but generally does not exceed 2% of the loan amount. In addition to the processing fee, you are expected to pay a gold validation charge, which the bank will incur.

Are there any foreclosure charges on a gold loan?

Loan foreclosure charges range from 0%-3% and are applicable on the outstanding amount of your gold loan.

How can the pledged gold against the loan be reclaimed?

It's very simple to reclaim deposited gold. Plan your loan repayment efficiently and ensure you do not default. Failure to repay the loan in the stipulated time will result in auctioning of your gold ornaments.

What medium should I use to repay the loan?

The loan can be repaid by choosing any medium of money transfer as you desire, such as Cash, Cheque, Demand Draft or Online Fund Transfer.

What is the penalty for delay in repayment of loan?

Banks usually levy an annual penalty between 1% and 6%. This is in addition to the rate of interest that you would be paying to service your loan.

What documents are required for approval of your gold loan?

Documents required for approval of your gold loan are:

ID proof, such as your Driving License, Pan Card, Form 60/61, valid Passport, and Voter ID card.

Address proof, such as House Registration Documents, and Utility Bills

Can I repay the loan partially?

Yes, a gold loan can be repaid partially at any point in time. However, your deposited gold will only be returned once the entire loan amount has been repaid.

Is the gold pledged with banks safe?

Banks take a lot of precaution while storing your gold and keep it safe until the loan amount is returned. They understand the sentimental value attached to gold ornaments and act as custodians while the gold remains with them.

Loans

Secured MSME
Loan Against Gold