A home loan is a financial product provided by lending institutions that allow individuals to borrow money to purchase a house. The borrower agrees to pay back the loan over a set period, typically up to 30 years, through monthly payments that include both principal and interest.
If you’ve got questions, we have answers!
- Home Loan
- Loan Against Property
- Balance Transfer
- Plot loan
- Commercial Property Loan
- Udyog Loan Against Property
- Business Loan
- Business Loan for Women
- Business Loan for MSME
- Professional Loan for Doctors
- Professional Loan for Chartered Accountants
- Home Loan
- Home Loan Process
- Home Loan Terminology
- NACH
- Important Documents
- Tax Benefits Related
- Charges Related
- Insurance Related
- Semi-Fixed Rate of Interest
There are different types of home loans available in the market. However, at Godrej Capital, we provide:
Home loans for ready-to-move-in, under-construction, and resale homes
Balance transfer (shifting of loans from a different financier to Godrej Capital, resulting in savings for the customers)
Top-up on existing home loans for renovation or home improvement
Plot loan to purchase a land or a plot
Godrej Capital offers several home loan variants to meet your needs:
Home Loans for Ready-to-Move-In, Under-Construction, and Resale Homes: Financing options for purchasing new homes, homes under construction, or pre-owned homes.
Balance Transfers: Shift your existing home loan from another financier to Godrej Capital to take advantage of potential savings.
Top-Up Loans: Additional funding on your existing home loan for renovation or home improvement projects.
Loans for Land/Plot Purchase: Financial assistance for purchasing residential land or plots.
These options provide flexibility and tailored solutions for various home financing needs.
An under-construction property refers to a housing unit that is undergoing the process of construction. Such properties are usually sold by the developer before they are entirely built but are handed over only post-completion.
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules. This offers flexibility in repayment amounts according to their financial needs based on various variants available. To know more about Design your EMI, read here.
Step 1: Submit your Application
The loan application you submit will consist of a duly filled-in loan application form, proof of income, proof of identity and address.
Step 2: Application Evaluation and Loan Sanction
Our internal team immediately starts evaluating the application and processing it further for sanctioning the loan.
Step 3: Property valuation
Once the property papers are shared and a legal technical valuation of the property is done to see if all is in order, the disbursal of the loan is approved. This step is easier to cross when you’re buying a home from an approved project.
Step 4: Loan Disbursal
A loan agreement is signed and the final disbursal takes place.
A financial institution undertakes certain risks while lending money to borrowers, so for prudent lending, the institution checks the borrower's repayment capacity through his/her savings, income, age, qualifications, nature of work, any loans currently served, etc. This is called Credit Evaluation and determines the loan eligibility comprising of the loan amount, tenure of the loan and the rate of interest.
A financial institution hires agencies to objectively assess the value of properties used as loan collateral. This assessment considers the property's age, usage, legal documents, condition, and location. Market conditions, like the demand for the property in the area, also affect the valuation.
Registering a property involves paying stamp duty and registration charges, which vary by state. This process includes recording the sale deed at the sub-registrar's office in the property's jurisdiction.
No, you don't need a co-applicant for a home loan, but having one boosts eligibility. If you own the property alone, any immediate family member can be a co-applicant. If someone co-owns the property, they must also co-apply for the loan. Also, if joint income is used for eligibility, the second person must be a co-applicant.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective; NACH offers a fast and efficient clearing platform. The NACH debit mandate is used by GHF to automatically deduct monthly instalments from your bank account for the loan availed.
Two ways to cancel your NACH mandate are:
You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
You need to mention the Loan Account Number (LAN) in the request, and our team will connect with you within 48 hrs.
The processing fee is a one-time charge paid by the borrower for the cost incurred by the financial institution in the process of loan application.
The loan sanction letter confirms someone's eligibility for a loan after checking their finances and verifying their documents. It includes details like the loan amount, tenure, interest rate, EMI amount, and any special conditions. This letter is crucial for getting a loan and stays valid for a set time.
A Power of Attorney allows a person to grant another person the right to make decisions regarding the person's assets, finances and real estate properties.
There are two types of power of attorney.
First, the 'General Power of Attorney'where a property owner confers 'general' rights. The rights include but are not limited to sell, lease, sub-lease etc.
Second, is the 'Special Power of Attorney'wherein only a specific right is given by the owner to the chosen person.
An Equated Monthly Installment (EMI) is a monthly payment made by a borrower to a financial institution for the loan availed. The EMI is made up of two components, namely the principal and interest. This means that with each payment, the borrower pays back a portion of the loan amount as principal and a certain amount as interest. By the end of the loan term, the borrower would have paid back both the principal and interest amounts in full.
Pre-EMI is the interest borrowers pay until the final loan disbursement and EMI start. It's the interest on the loan amount disbursed, paid monthly until EMIs start. Lenders usually offer pre-EMI for buying under-construction properties with a loan.
The period (in months or years) for which a financial institution lends the money to a borrower. The tenure may be different from person to person.
Godrej Capital Home Loans offer longer tenures of up to 30 years.
The interest rate is the percentage charged by a financial institution on the borrowed money, paid in addition to the principal amount. There are three types of interest rates:
- Floating Rate of Interest: This rate changes with an index. At Godrej Housing Finance, all floating rate loans are linked to GHF PLR (Godrej Capital Prime Lending Rate), varying over the loan's repayment period.
- Fixed-Rate of Interest: This rate remains constant throughout the loan's repayment tenure.
- Semi-Fixed Interest Rate: This rate is fixed for an initial period, typically the first three years, and then switches to a floating rate.
Collateral is an asset that a financial institution accepts and holds as security until the loan is fully repaid. This provides a safeguard for the financial institution to mitigate any potential risks. In the case of home loans, the property itself is often used as collateral.
APF stands for Approved Project Funding.
Godrej Capital, identifies projects by certain developers and builders and estimates on the basis of the properties’ legal and technical evaluation. If a project qualifies the necessary requirements, it’s included in the APF master of Godrej Capital. The TAT (turnaround time) for a loan disbursal, is lesser, where a project already is an APF and the loan processing is much simpler.
Loan to Value (LTV) is the loan amount divided by the property's total value, shown as a percentage. For example, a loan of INR 75 lakhs for a property worth INR 1 crore would have a 75% LTV.
Own Contribution (OCR), also known as the down payment, is the portion of the property's purchase price that you, as the borrower, are required to pay from your own funds when taking out a home loan. Typically, lenders finance a percentage of the property's value, and the OCR is the remaining amount you must contribute. For instance, if the lender covers 80% of the property cost, you would need to provide the remaining 20% as your Own Contribution. This amount demonstrates your financial commitment and reduces the lender's risk, as you have a vested interest in the property's purchase.
Tranche disbursements refer to the process of releasing loan funds in stages rather than as a single lump sum. This method is commonly used in large loans, such as those for real estate, construction projects, or business financing.
When you transfer, sell, lease, or make any other change to a property, you must register the related documents under the Indian Registrations Act, 1908, Section 17. Once a property is lawfully registered, the person it's registered to becomes the rightful owner, responsible for it entirely. This process is called Property Registration.
Disbursement means paying out the loan amount to the borrower or the builder from which the borrower has bought the home. The disbursement can be either in full or in tranches depending on the type of home financed (tranches are common for under-construction properties) and the terms agreed between the financial institution and the borrower.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
A Welcome Letter is sent by a financial institution once a customer is fully onboarded. It consists of the most important terms and conditions, Repayment Schedule, Schedule of Charges and other important loan details.
A Statement of Account (SOA) is a summary of a Home Loan account provided by the lender. It includes details of all the transactions, the outstanding balance due, rate of interest charged on the outstanding balance, and any fees/charges incurred. However, the outstanding balance as reflected in SOA may not be the amount which you have to pay to close the account. To know the foreclosure/pre-closure amount contact +91 22 68815555.
The Most Important Terms and Conditions (MITC) includes important details regarding a loan account such as the loan specifics, repayment schedule, charges, and any other pertinent information that a borrower needs to be aware of. This information can be accessed through both the institution's website and the customer portal.
A repayment schedule is a table that lists all the payments you need to make for a loan. It shows how much of each payment goes towards paying off the loan amount (the principal) and how much goes towards paying the interest. This schedule continues until the loan is fully repaid.
An Interest Certificate is a document issued by the lender which details out the bifurcation of the Principal and Interest Amount paid towards a home loan account in a particular financial year.
The NOC, or No Objection Certificate, is a document that states that you have paid all the EMIs and cleared all other outstanding loan dues and is issued by the company post the closure of the loan account. Please note that till the time NOC is not issued you may have liability towards Godrej Capital.
You are required to submit the below-listed documents along with an application for loan foreclosure:
- Proof of Identity: This can be verified using Officially Valid Documents (OVD) like your Aadhar Card, Passport, Voters Identity Card, or Driving License.
- Proof of last EMI payment: This can be shown using your recent bank statement reflecting the last EMI deduction.
- Source of funds for closure: A bank statement of the last 30 days and a sanction letter from a financial institution will be required.
- Loan documents
- Details of your loan account
As per Section 80C of the Income Tax Act, you can avail deductions of up to INR 1.50 lakhs on the principal amount repaid annually.
Under Section 24 of the IT Act, taxpayers are also eligible for benefits of up to INR 2 lakhs on the interest repaid against a home loan annually. Under section 80EE, first-time home buyers can claim an additional deduction of INR 50,000 for a property value of up to INR 50 lakhs and a loan taken of up to INR 35 lakhs.
The income tax law provides for the claim of pre-EMI interest also, called the pre-construction interest, as a deduction in five equal instalments starting from the year in which the property is acquired or construction is completed, over and above the deduction you are otherwise eligible to claim from your house property income. However, the maximum eligibility remains capped at Rs. 2 lakhs.
Yes, these expenses can be claimed as well, under section 80C but only in the year in which the expenses are incurred and within the overall limit of Rs. 1.5 lakhs.
Bounce charges are incurred if the EMI is not paid by the borrower on the due date.
For more detail and updated information refer Schedule of Charges.
Late Payment Charges, also referred to as ‘Penal charges’ are the charges incurred on the late payment of the outstanding dues in case of EMI bounce, by the borrower.
For more detail and updated information refer Schedule of Charges.
Swap charges are incurred by the borrower for changing the repayment instrument or change in the bank account for NACH Mandates.
For more detail and updated information refer Schedule of Charges.
Recovery charges are levied by the Company for any expenses incurred on the collection of overdue from the borrowers.
For more detail and updated information refer Schedule of Charges.
Foreclosure or prepayment charges are the charges a borrower incurs for partly paying/closing the loan ahead of its full loan term.
For more detail and updated information refer Schedule of Charges.
These are the charges paid by the customer as per the State laws to register the property they have purchased. For more details and updated information, please refer to Schedule of Charges.
The fee for registering charges on the mortgaged property and for uploading KYC details on CKYC.
For more detail and updated information refer Schedule of Charges.
Charges incurred by the Company for any legal actions against the Borrower/s in case of default.
For more detail and updated information refer Schedule of Charges.
It is advisable to secure insurance for your loan as a proactive measure against unforeseen events like death, which could potentially lead to difficulties in meeting EMI obligations. Loan insurance serves as a voluntary risk mitigation tool, safeguarding the borrower in such situations.
The insurance contract is between the Insurer and the customers. The company plays a limited role in facilitating the insurance contract between customers and Insurers. It will be the Insurer's responsibility to provide details and benefits to the customers.
Loan-linked Insurance covers a large amount of the loan liability. In any unforeseen circumstances like death, disability, hospitalization, and diagnosis of critical ailments, the Insurer can repay the loan liability through Insurance.
Credit-Life Insurance provides death cover for natural, accidental, and unnatural cause deaths. It also includes coverage for death due to Covid-19 and can be extended to co-borrowers. Customers can also avail the benefit of Section 80-C Income Tax deduction.
Survival-Benefit Plan is for critical illness insurance and provides additional cover for medical emergencies like heart attack, stroke, or cancer. Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short. These policies come at a relatively low cost. However, the instances that they will cover are generally limited to a few illnesses or emergencies.
Health insurance aims to provide a defence against the hardship caused due to lack of income because of (a) Disease, (b) Accident, (c) Surgery and (d) hospitalization.
Property Insurance secures the property for which the loan has been availed; ensures the security of valuables within the house. It is applicable for entirely constructed property wherein the customer has possession of the property. The Claim amount is the reinstatement value of the property.
A semi-fixed rate of interest refers to an interest rate that remains fixed for a certain period of time, as informed to the borrower in advance, and upon completion of this period becomes floating.
Godrej Capital’s semi-fixed rate home loan is a category of home loan offering, where the interest rate for the borrower remains fixed for an initial period of up to 3 years and then is converted to a floating rate for the remaining loan tenure.
It provides features of both fixed and floating rate loans. For the initial period, the loan is on a fixed rate and thereafter on floating. The floating rate is linked to the Prime Lending Rate (PLR) and the rates change along with a change in PLR. To know more, click here.
Both salaried customers and self-employed professionals/non-professionals (SEP/SENP) are eligible to opt for this offering when availing home loan from Godrej Capital.
For the salaried customers, the fixed interest component will start from 8.55% for the initial three years, while for the SEP/SENP customers, the fixed interest rate element will be 8.99% onwards, subject to other eligibility criteria.
The maximum loan amount that can be availed under a semi-fixed rate home loan is dependent on factors like the unit purchased, income of applicants, and cost of the property, among others, and therefore may vary. Please check with your Sales Manager for details based on your specific requirements.
The processing fee for this type of home loan can go up to 2% of the loan amount.
Yes, a conversion fee of 2.5% is applicable on the principal outstanding if you wish to change your fixed rate of interest into a floating one before the end of your fixed rate period.
The semi-fixed rate home loan is launched as an offering for new home loan customers and is not available for existing customers.
The approval and disbursement timeline may vary based on factors such as documentation and verification. Please check with your Sales Manager for details of the application process and an estimated timeline.
Yes, the loan will automatically get converted to a floating rate of interest after the period of three years of fixed interest rate ends.
Visit Godrej Capital’s customer portal or contact our customer care team to get updates on the status of your existing loan.
- Loan Against Property
- Documents
- NACH
- Flexi Funds
It is a loan against fully constructed, freehold residential and commercial properties for personal or business needs. The obtained funds can be utilized for various purposes, such as covering wedding expenses, medical costs, or funding a child's education etc. You can also transfer your existing Loan Against Property (LAP) from other banks and financial institutions to Godrej Capital.
For new customers, you can get funding up to 85% of the property value depending on the segmentation and the property type. But, for existing customers, the principal outstanding on all existing loans and the Loan Against Property being availed should not cumulatively exceed 60% of the market value of the mortgaged property as assessed by Godrej Finance.
Both salaried as well as self-employed individuals have the option to obtain a Loan Against Property (LAP) with no end-usage restrictions. The loan availed can be utilised for professional needs such as business expansion, debt consolidation, and various personal needs including homeownership, marriage, child education etc.
You can avail of Loan Against Property for a maximum term of up to 25 years subject to internal policies of a lending institution.
Yes, Loan Against Property (LAP) can be availed of against fully constructed and freehold commercial properties.
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules. This offers flexibility in repayment amounts according to their financial needs based on various variants available. To know more about Design your EMI, read here.
Click here to know the documents required for a Loan Against Property. For applicable Fees & charges, refer Schedule of Charges.
Loan Against Property has no end-usage restrictions. You can use it for any business or personal needs, such as - Business expansion, Long-term working capital, Purchase of equipment, Vacation, Education, Medical, etc.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
General FAQs
LAP Flexi Funds is an Overdraft-like facility, offering borrowers the flexibility to withdraw and repay funds based on their needs and convenience from a certain sanctioned limit. Just like Loan Against Property, the loan is availed against the value of the property. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for individuals and self-employed business owners.
Any individual or entity requiring funds can apply for a Loan Against Property Flexi Funds to a maximum loan amount of INR 15 crores.
Loan Against Property Flexi Funds offers a repayment tenure of up to 15 years.
Any individual or entity requiring funds for business purposes and possessing a property can apply for Loan Against Property Flexi Funds.
The funds from the Loan Against Property Flexi Funds (LAP Flexi Funds) can be utilized for diverse business-related purposes like business expansion, cash flow management, inventory set up, among others.
LAP Flexi Fund interest rate is calculated only to the utilized amount from the total withdrawable limit. With Loan Against Property Flexi Funds, you enjoy the freedom to repay and reuse funds within the specified limit and tenure.
The EMI for Loan Against Property Flexi Funds is calculated based on the interest charged on the utilized limit. You can continue to make only the interest payment, as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Once your limit is exhausted, the EMI will be calculated to include principal payment and the interest charged on the utilized amount.
In a conventional Loan Against Property, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month. In Loan Against Property Flexi Loans, customers are sanctioned certain amount with a withdrawable limit and the subsequent repayment includes only interest on the utilized amount from the sanctioned limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between a Loan Against Property and a Loan Against Property Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers five variants of the Loan Against Property Flexi Funds:
- Monthly Variant
- Quarterly Variant
- Half-yearly Variant
- Yearly Variant
- Hybrid Variant
Failing to make EMI repayments for Loan Against Property Flexi Funds, just like with any other loan, can have serious consequences. These may include having your sanctioned limit blocked, damaging your credit score, incurring penalties, facing legal action, and even losing the property mortgaged as collateral.
Adhering to repayment obligations is crucial to ensure you avoid any of the above instances.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay the Loan Against Property Flexi Funds at their convenience.
Loan Against Property Flexi Funds – Variants
In the monthly variant of Loan Against Property Flexi Funds, the withdrawal limit reduces every month from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the quarterly variant of Loan Against Property Flexi Funds, withdrawal limit reduces every quarter from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the half-yearly variant of Loan Against Property Flexi Funds, the withdrawal limit reduces every six months from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the annual variant of Loan Against Property Flexi Funds, the withdrawal limit reduces every year from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the hybrid variant of Loan Against Property Flexi Funds, the withdrawable limit is constant for a fixed period of either one, two or three years after which it will drop every month. The drop proportionally reduces from the sanctioned limit in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Loan Against Property interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for Loan Against Property Flexi Funds include factors such as property value, income, credit history, age, and other specifications established by the lending institution. The interest rate is then determined based on these various parameters.
Loan Against Property Flexi Funds are exclusively available for business purposes.
Yes, you can mortgage multiple properties to increase the total value of a Loan Against Property Flexi Funds limit, contingent upon credit policies. The Loan Against Property interest rate will be determined accordingly.
Yes, you can convert your current Loan Against Property to Loan Against Property Flexi Funds to avail the benefits of a facility like overdraft. It is, however, contingent upon approval and meeting the eligibility criteria outlined in the credit policies.
Customer Portal Queries
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in.
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
Note: Please ensure the payment is made from the borrower’s registered bank with the company.
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year, and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January, 15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Billing - related FAQs
The billing cycle for Loan Against Property Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilization of funds from the sanctioned/withdrawal limit, as the case may be.
The EMI primarily comprises interest on the utilized amount till the sanctioned limit sustains. Once the sanction limit is exhausted, the EMI includes principal amount as well as the interest computation on the utilized amount.
At the end of the day on the 26th of the month, the bill is generated based on interest computation and principal amount utilized, as the case maybe. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
- Balance Transfer
- Top-Up
- Insurance Related
- NACH
Balance Transfer is a financial strategy that allows you to move an existing loan from one lender to another, typically with the aim of securing better terms, such as lower interest rates or more favorable repayment terms. Godrej Capital's Balance Transfer empowers you to shift your outstanding loan to us, providing opportunities for reduced EMI payments, competitive interest rates, and enhanced financial flexibility. It's a smart move to optimize your loan and achieve greater savings in the long run.
Click here to apply online
Home Loan Balance Transfer is a process where you transfer your existing home loan from one lender to another. This strategic move enables you to benefit from lower interest rates, reduced monthly payments, and improved loan terms. By choosing Godrej Capital for your Home Loan Balance Transfer, you unlock the advantages of our competitive interest rates, additional Top-Up loans, and a simplified documentation process. It's a financial decision that empowers you to optimize your home loan for better savings and flexibility.
Click here to apply online
Transferring your home loan balance to Godrej Capital through our efficient balance transfer procedure unlocks various benefits. Enjoy competitive interest rates, EMI savings, and the flexibility to extend the repayment period. Plus, experience the advantage of a higher loan amount, including a Top-Up loan, tailored to meet additional requirements.
We keep the Balance Transfer procedure simple and hassle-free. Once you apply for a Home Loan Balance Transfer with Godrej Capital, you can expect a swift 7-day processing period. After applying for the balance transfer process online on our website, our representative will contact you for necessary documents, including those required for eligibility assessment. You can simply click here to apply for Balance Transfer.
There's no maximum limit for the transfer amount. If eligible, Godrej Capital allows the complete transfer of your Home Loan outstanding balance, ensuring a seamless process.
Certainly! At the time of the balance transfer, self-employed individuals can extend the repayment tenor to up to 20 years, while salaried customers can extend the loan tenure to up to 30 years. The extension is subject to the borrower’s eligibility and age.
No, there is no mandatory requirement to provide a guarantor. The eligibility for a Home Loan Balance Transfer is simple. However, it may change, subject to alternations in the internal policies of the lender.
The National Automated Clearing House (NACH) mandate simplifies loan repayment by providing a centralized and efficient clearing platform. Godrej Capital utilizes the NACH debit mandate to automatically deduct monthly instalments from your bank account, ensuring a hassle-free repayment process.
There are two ways to cancel your NACH mandate:
You can log in to the Customer Portal and request to cancel the mandate through the ‘Write to Us’ section.
You can also send an email to customercare@godrejcapital.com through your registered email ID or call our Customer Care +91 22 68815555 through your registered mobile number and place a request for NACH mandate cancellation.
Please note that you need to mention the Loan Account Number (LAN) in the request, and our team will connect with you within 48 hrs.
Top-Up Loans can tend to personal and professional needs like home furnishing, marriage, child's tuition business expansion, etc.
Customers opting for a Balance Transfer of their Home loan can additionally avail of a top-up loan from Godrej Capital subject to meeting the qualifying criteria.
You can avail a top-up loan for a maximum term of 15 years
As a Top-Up Loan is a primarily a new loan, standard processing fees apply to it as well.
No, it is not mandatory to obtain Insurance. However, Insurance is a voluntary risk mitigation device that helps customers in multiple ways, such as securing the asset, helping in paying off the loan liability in an unlikely event.
The insurance contract is between the Insurer and the customers. The company plays a limited role in facilitating the insurance contract between customers and Insurers. It will be the Insurer's responsibility to provide details and benefits to the customers.
Loan-linked Insurance covers a large amount of the loan liability. In any unforeseen circumstances like death, disability, hospitalization, and diagnosis of critical ailments, the Insurer can repay the loan liability through Insurance.
Credit-Life Insurance provides death cover for natural, accidental, and unnatural cause deaths. It also includes coverage for death due to Covid-19 and can be extended to co-borrowers. Customers can also avail the benefit of Section 80-C Income Tax deduction.
Survival-Benefit Plan is for critical illness insurance and provides additional cover for medical emergencies like heart attack, stroke, or cancer. Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short. These policies come at a relatively low cost. However, the instances that they will cover are generally limited to a few illnesses or emergencies.
Health insurance aims to provide a defence against the hardship caused due to lack of income because of (a) Disease, (b) Accident, (c) Surgery and (d) hospitalization.
Property Insurance secures the property for which the loan has been availed; ensures the security of valuables within the house. It is applicable for entirely constructed property wherein the customer has possession of the property. The Claim amount is the reinstatement value of the property.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
- Plot Loan
- Plot Loan Process
- Plot Loan Terminology
- Important Documents
- NACH
- Charges Related
- Insurance Related
A Plot loan is an amount of money that a person borrows from a financial institution to purchase a plot of land for the construction of a residential unit on the same. This loan is at a certain rate of interest for a particular number of years (tenure), which is to be paid back in equated monthly instalments (EMI).
There are a few conditions that need to be met for Plot loans:
The residential plots for construction, otherwise allocated by the builders, are to be approved by GHF.
The plot should be clearly identifiable and demarcated.
Step 1: Submit your Application
Your loan application should include a duly filled in loan application form, proof of income, proof of identity and proof of address.
Step 2: Application Evaluation and Loan Sanction
Our internal team promptly evaluates and processes the loan application for loan sanctioning.
Step 3: Property valuation
After receiving the property papers, we conduct a legal and technical valuation of the plot to ensure compliance. Upon approval, we proceed with the loan disbursal process. The process is simplified if you are purchasing a home from an approved project.
Step 4: Loan Disbursal
After obtaining the necessary approvals, the loan agreement is signed, and the loan amount is disbursed.
A financial institution undertakes certain risks while lending money to borrowers, so for prudent lending, the institution checks the repayment capacity of the borrower through his/her savings, income, age, qualifications, nature of work, any loans currently served etc. This is called Credit Evaluation and determines the loan eligibility comprising of the loan amount, tenure of the loan and the rate of interest.
A financial institution empanels agencies for objective valuation of the property it takes against the loan as security. The valuation is based on its age, usage, legal documentation, Construction cost, as well as its geographical location. Market conditions also come into play, including whether there is a high demand for that particular type of property in the area in which it is located.
Registration of a property includes necessary paying of stamp duty and registration charges (may vary from state to state) for a sale deed and getting it recorded at the sub-registrar's office of the concerned jurisdictional area.
If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the home loan. In case of sole ownership of the property, any member of your immediate family can be a co-applicant. If joint income is considered to arrive at eligibility, the second person needs to come in as a co-applicant.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective; NACH offers a fast and efficient clearing platform. The NACH debit mandate is used by GHF to automatically deduct monthly instalments from your bank account for the loan availed.
Two ways to cancel your NACH mandate are:
You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
You can also send an email to customercare@godrejhf.com through registered email ID or call our Customer Care +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
You need to mention the Loan Account Number (LAN) in the request, and our team will connect with you within 48 hrs.
The processing fee is a one-time charge paid by the borrower to the financial institution to cover expenses associated with processing a loan application.
A Loan Sanction letter is given by a financial institution after evaluating an applicant's creditworthiness and other details like KYC. This letter proves the applicant is eligible for a loan and includes key details like the maximum loan amount, tenure, interest rate type, EMI amount, and any special conditions. The sanction letter is valid for a specific period of time.
A Power of Attorney allows a person to grant another person the right to make decisions regarding the person's assets, finances and real estate properties.
There are two types of power of attorney.
First, the 'General Power of Attorney' where a property owner confers 'general' rights. The rights include but are not limited to sell, lease, sub-lease etc.
Second, is the 'Special Power of Attorney' wherein only a specific right is given by the owner to the chosen person.
The EMI is the amount of money a borrower pays back to a financial institution, every month, towards the loan availed. It comprises of 2 components – the principal and the interest. So with every EMI, the borrower pays back a portion of the loan amount as principle and a certain amount of interest. The EMI amount remains constant and by the end of the tenure, the borrower has paid back both principal and interest amount in full. At Godrej Capital, you can avail product variants where we give you a break from your EMI when you need it the most.
Pre-EMI is the interest borrowers pay until the final loan disbursement and EMI start. It's the interest on the loan amount disbursed, paid monthly until EMIs start. Lenders usually offer pre-EMI for buying under-construction properties with a loan.
The time period (in months or years) for which a financial institution lends the money to a borrower. The tenure may be different from borrower to borrower
At Godrej Capital, Plot + Construction loans come for tenures up to 15 years.
The interest rate is the percentage charged by a financial institution on the borrowed money, paid in addition to the principal amount. There are three types of interest rates:
Floating Rate of Interest: This rate changes with an index. At Godrej Housing Finance, all floating rate loans are linked to GHF PLR (Godrej Capital Prime Lending Rate), varying over the loan's repayment period.
Fixed-Rate of Interest: This rate remains constant throughout the loan's repayment tenure.
Semi-Fixed Interest Rate: This rate is fixed for an initial period, typically the first three years, and then switches to a floating rate.
Collateral is an asset (the plot) a financial institution accepts and keep as security for a loan it extends till the loan is fully repaid. This helps the financial institution to cover its risks.
APF stands for Approved Project Funding.
Godrej Capital identifies projects by certain developers and builders and evaluates basis the properties’ legal and technical evaluation. If a project qualifies the necessary requirements, it’s included in the APF master of Godrej Capital.
The TAT(turn around time) for a loan disbursal, is lesser, where a project is already an APF and the loan processing is much simpler
Loan to Value (LTV) is the loan amount divided by the property's total value, shown as a percentage. For example, a loan of INR 75 lakhs for a property worth INR 1 crore would have a 75% LTV.
Own Contribution or OCR is the same as a down payment. It is the difference between the loan amount Godrej Capital (or any financial institution) will provide and the total value of the property.
At Godrej Housing Finance, we make OCR a breeze with Easy Down payment options we call Parallel Funding, where a borrower doesn’t get burdened and pays the down payment in parts on a pro-rata basis. This enables the borrower to buy his/her dream home sooner than he/she normally would.
OCR and down payment are also referred to as ‘Margin’ money.
The documents relating to transfer, sale, lease or any other form of disposal of immovable property. Registration is compulsory by law for all properties under Section 17 of the Indian Registrations Act, 1908. Once a property has been registered lawfully, it means that the person in whose favour the property has been registered is the lawful owner of the premises and is fully responsible for it in all respects.
Loan disbursement is the process of paying out the loan amount to the borrower or the builder. The payment can be made either in full or in parts (tranches), depending on the type of home being financed and the terms agreed upon between the financial institution and the borrower. Tranches are common for under-construction properties.
The Schedule of Charges is the list of charges and corresponding amount levied by a financial institution over the duration of the loan, if applicable. For Godrej Housing Finance, refer to the schedule of charges here.
A Statement of Account for a loan lists all transactions for that loan, date by date. It shows the outstanding balance, the interest rate on that balance, and any fees or charges incurred.
Most Important Terms and Conditions details out the Loan details, repayment schedule, schedule of charges and any other relevant details of a loan account which a borrower must know.
A repayment schedule is a table of detailed loan payments for every period, showing the amount of principal and the interest that comprise each payment until the loan is fully paid off.
An Interest Certificate is a legal document issued by the lender which details out the bifurcation of the Principal and Interest Amount paid towards a home loan account in a particular financial year. The same is used for taxation purposes.
The NOC, or No Objection Certificate, is a legal document that states that you have paid all the EMIs and cleared all other outstanding loan dues and is issued by the company post the closure of the loan account
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
Bounce charges are incurred if the EMI is not paid by the borrower on the due date.
Late Payment charges, also referred to as ‘Penal charges’ are the charges incurred on the late payment of the outstanding dues in case of EMI bounce, by the borrower.
Swap charges are incurred by the borrower for changing the repayment instrument or change in the bank account for NACH Mandates.
Recovery charges are levied by the Company for any expenses incurred on collection of overdue from the borrowers
Foreclosure or prepayment charges are fees for closing a loan early. For individual loans with floating rates, there are no such charges. For individual loans with fixed rates, there are no charges if you pay with your own funds. However, if you use another lender to close the loan, charges will apply according to the lender's Schedule of Charges. For all non-individual loans, foreclosure and prepayment charges follow the lender's Schedule of Charges.
No, it is not mandatory to obtain Insurance. However, Insurance is a voluntary risk mitigation device that helps customers in multiple ways, such as securing the asset, helping in paying off the loan liability in an unlikely event.
The insurance contract is between the Insurer and the customers. The company plays a limited role in facilitating the insurance contract between customers and Insurers. It will be the Insurer's responsibility to provide details and benefits to the customers.
Loan-linked Insurance covers a large amount of the loan liability. In any unforeseen circumstances like death, disability, hospitalization, and diagnosis of critical ailments, the Insurer can repay the loan liability through Insurance.
Credit-Life Insurance provides death cover for natural, accidental, and unnatural cause deaths. It also includes coverage for death due to Covid-19 and can be extended to co-borrowers. Customers can also avail the benefit of Section 80-C Income Tax deduction
Survival-Benefit Plan is for critical illness insurance and provides additional cover for medical emergencies like heart attack, stroke, or cancer. Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short. These policies come at a relatively low cost. However, the instances that they will cover are generally limited to a few illnesses or emergencies.
Health insurance aims to provide a defence against the hardship caused due to lack of income because of (a) Disease, (b) Accident, (c) Surgery and (d) hospitalization.
Property Insurance secures the property for which the loan has been availed; ensures the security of valuables within the house. It is applicable for entirely constructed property wherein the customer has possession of the property. The Claim amount is the reinstatement value of the property.
- Commercial Property Loan
- NACH
A Commercial Property Loan is a type of loan specifically designed to finance the purchase, construction, or renovation of commercial real estate. This can include office buildings, retail spaces, warehouses, and other properties used for business purposes. The loan terms, interest rates, and eligibility criteria for commercial property loans can vary depending on the lender and the specific needs of the borrower. These loans typically require the property to serve as collateral and may involve more stringent qualification requirements compared to residential property loans.
Salaried and self-employed individuals (both professionals and non-professionals) are eligible, but NRIs are not eligible for funding.
You can avail of a Commercial Property Loan for a maximum tenure of up to 25 years or till the age of retirement, whichever is lower.
Click here to know the documents required for Commercial Property Loan. For applicable fees and charges, refer to Schedule of Charges
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
- Udyog Loan Against Property
- NACH
- Flexi Funds
Godrej Capital Udyog Loan Against Property (LAP), also known as Business Loan Against Property, is a loan offering specially designed to cater to the Micro, Small, and Medium Enterprises (MSMEs) of India. Udyog LAP is a type of secured loan that allows borrowers to obtain financial help by mortgaging their property as collateral. It is aimed at enabling MSMEs to meet their immediate funding requirements without having to liquidate their property.
Godrej Capital Business Loan is an unsecured or collateral-free loan offering. To avail of this loan, a business owner need not mortgage any collateral.
On the other hand, Udyog Loan Against Property, commonly referred to as Micro LAP, can only be availed by mortgaging certain types of property against the loan amount. While both loans can be used for business expansion, purchasing long-term assets, and/or meeting working capital requirements, here are some of the common differentiators between the two –
|
GC Business Loan |
GC Udyog Loan Against Property |
Interest Rate |
From 17% p.a. onwards |
From 11% p.a. onwards |
Loan Amount |
Up to INR 50 lakhs |
Up to INR 3 crore |
Collateral |
None Required |
Property (residential, commercial, industrial, plots, others) |
Business Vintage |
At least 3 years |
At least 2 years |
Loan Tenure |
Up to 5 years |
Up to 15 years |
Godrej Capital Udyog Loan Against Property, also known as Business Loan Against Property, is designed to help businesses with their working capital requirements, inventory stock-ups, expansion plans, etc.
In certain cases, the loan can also be utilized for other purposes, including marriage/wedding celebrations, consolidation of high-interest debt, and medical emergencies, among others.
There are several benefits of obtaining a Business Loan Against Property. As this type of loan is provided by mortgaging collateral, it usually offers lower interest rates and a longer repayment tenure than an unsecured loan.
Godrej Capital Udyog Loan Against Property, also known as Micro LAP, offers a higher loan tenure of up to 15 years and attractive interest rates starting at 11% p.a. only. This loan solution further offers higher loan eligibility by considering multiple sources of income. Even as the property of the borrower gets mortgaged to the lender in this loan offer, the borrower can continue to reside and habituate the property.
To be eligible for Godrej Capital Udyog Loan Against Property, commonly referred to as Micro LA, a potential borrower must meet the below-mentioned criteria-
The borrower(s) must be a minimum of 21-25 years of age,
The borrower(s) must be a salaried individual, a self-employed professional, or a partnership or private limited company,
The borrower(s) must meet a specific monthly income requirement based on the nature of their profession,
The borrower(s) must meet a specific monthly income requirement based on the nature of their profession,
The borrower(s) must have continuous and stable work experience with the same employer or in the same profession, for at least two to three years,
The borrower(s) must have an Indian citizenship.
Here is a list of documents required to avail a Udyog Loan Against Property (also known as Business Loan Against Property):
- Identity proof such as your Aadhar card and/or PAN card. If a firm/company is applying for a loan against property, they might also be required to submit their GST registration certificate and other applicable business registration documents.
- Address proof such as passport (for individuals), electricity bills (for the mortgaged property), and rental agreement (if applicable).
- Income proof documents including –
- Salary slips for salaried individuals,
- Income tax return statements for the past two years or so,
- Profit/loss statement and balance sheet for the past two years or so,
- GST returns (for self-employed businesses, companies, and firms),
- Bank account statements such as salary credit statements and operative bank account statements for the last 3-6 months,
- Property documents such as the title deed,
- Credit score report and processing fee cheque.
This list is subject to change as per the borrower’s loan requirements..
Udyog Loan Against Property, also known as Micro LAP, has relaxed requirements and accepts a range of property types including self-occupied residential properties, rented residential properties, commercial properties (self-occupied/rented, offices, shops), industrial properties, nursing homes, etc.
Udyog Loan Against Property, commonly referred to as Business Loan Against Property, can be availed for a tenure of up to 15 years.
A borrower can avail a maximum loan amount of up to INR 3 crore as part of Udyog Loan Against Property (also known as Micro LAP).
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules. This offers flexibility in repayment amounts according to their financial needs based on various variants available. To know more about Design your EMI, read here.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
General FAQs
Udyog LAP Flexi Funds is an Overdraft-like facility, offering borrowers the flexibility to withdraw and repay funds based on their needs and convenience from a certain sanctioned limit. Just like Udyog Loan Against Property, the loan is availed against the value of the property for business-related purposes. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for individuals and self-employed business owners.
Any individual or entity requiring funds can apply for a Udyog Loan Against Property Flexi Funds to a maximum loan amount of INR 3 crores.
Udyog Loan Against Property Flexi Funds offers a repayment tenure of up to 15 years.
Any individual or entity requiring funds for business purposes and possessing a property can apply for a Udyog Loan Against Property Flexi Funds.
The funds from the Udyog Loan Against Property Flexi Funds (Udyog LAP Flexi Funds) can be utilized for business-related purposes like business expansion, buying machinery, cash flow expenses, etc.
Udyog LAP Flexi Fund interest rate, much like in a facility-like Overdraft, is calculated only to the utilized amount from the total withdrawable limit. With Udyog Loan Against Property Flexi Funds, you enjoy the freedom to repay and reuse funds within the specified limit and tenure.
The EMI for Udyog Loan Against Property Flexi Funds is calculated based on the interest charged on the utilized limit. You can continue to make only the interest payment, as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Once your limit is exhausted, the EMI will be calculated to include principal payment and the interest charged on the utilized amount.
In a conventional Udyog Loan Against Property, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month. In Udyog Loan Against Property Flexi Loans, customers are sanctioned certain amount with a withdrawable limit and the subsequent repayment includes only interest on the utilized amount from the sanctioned limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between Udyog Loan Against Property and Udyog Loan Against Property Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers five variants of the Loan Against Property Flexi Funds:
- Monthly Variant
- Quarterly Variant
- Half-yearly Variant
- Yearly Variant
- Hybrid Variant
Failing to make EMI repayments for Udyog Loan Against Property Flexi Funds, just like with any other loan, can have serious consequences. These may include having your sanctioned limit blocked, damaging your credit score, incurring penalties, facing legal action, and even losing the property mortgaged as collateral.
Adhering to repayment obligations is crucial to ensure you avoid any of the above instances.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay the Udyog Loan Against Property Flexi Funds at their convenience.
Udyog Loan Against Property Flexi Funds – Variants
In the monthly variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every month from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the quarterly variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every quarter from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the half-yearly variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every six months from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the annual variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every year from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the hybrid variant of Udyog Loan Against Property Flexi Funds, the withdrawable limit is constant for a fixed period of either one, two or three years after which it will drop every month. The drop proportionally reduces from the sanctioned limit in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for Udyog Loan Against Property Flexi Funds include factors such as property value, business vintage, income, credit history, age, and other specifications established by the lending institution. The interest rate is then determined based on these various parameters.
Udyog Loan Against Property Flexi Funds are exclusively available for business purposes.
Yes, you can mortgage multiple properties to increase the total value of a Udyog Loan Against Property Flexi Funds limit, contingent upon credit policies. The Udyog Loan Against Property interest rate will be determined accordingly.
Yes, you can convert your current Udyog Loan Against Property to Udyog Loan Against Property Flexi Funds to avail the benefits of a facility like overdraft. It is, however, contingent upon approval and meeting the eligibility criteria outlined in the credit policies.
Customer Portal Queries
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
Note: Please ensure the payment is made from the borrower’s registered bank with the company.
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January,15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Billing - related FAQs
The billing cycle for Udyog Loan Against Property Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilization of funds from the sanctioned/withdrawal limit, as the case may be.
The EMI primarily comprises interest on the utilized amount till the sanctioned limit sustains. Once the sanction limit is exhausted, the EMI includes principal amount as well as the interest computation on the utilized amount.
At the end of the day on the 26th of the month, the bill is generated based on interest computation and principal amount utilized, as the case maybe. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
- Business Loan
- NACH
- Flexi Funds
A Business Loan is an unsecured or collateral-free loan that can be used for varied business purposes like funding your business expansion, purchasing long-term assets or meeting working capital requirements. We offer you a required loan amount without the need to pledge any collateral.
Ensuring steady business cash flow
Fund business expansion or diversification
Improve existing business set-up
Consolidate high-interest business debts
Boost working capital reserves
Hire a new workforce
Purchase and stock inventory
Buy new machinery, equipment, or software
With the Godrej Capital Business Loan, you can avail higher loan amounts up to Rs. 50 lakhs, without the need for collateral. The application process is hassle-free with minimal documentation, and the disbursal process is seamless and quick.
You can avail a loan amount up to Rs. 50 lakhs, the amount would be calculated based on your income and other parameters.
No, the Business Loan is an unsecured offering, and you only need to meet the simple Business Loan eligibility criteria to qualify for business financing.
The applicant should be a Sole Proprietor / Partnership firm / Private Ltd Co. / Unlisted Public Ltd Co. / LLP involved in the business of Manufacturing, Trading or Services. The age should be 21-65 years with minimum 3 years vintage of business operations.
No, a salaried individual can not apply or take a Business Loan. It is available only for catering to business requirements. Salaried individuals may go for Loan Against Property from Godrej Capital.
Click here to view the documents
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules. This offers flexibility in repayment amounts according to their financial needs based on various variants available. To know more about Design your EMI, read here.
BizRewards is an exclusive rewards program offered by Godrej Capital to appreciate and recognize our valued customers for their commitment to timely repayments. It goes beyond the conventional benefits of maintaining a good credit score, providing exciting rewards in the form of exciting vouchers. To know more about BizRewards read more here.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
General FAQs
Business Loan Flexi Funds is a facility like Overdraft, which offers borrowers a sanctioned limit, enabling them to withdraw any amount within the sanctioned limit as per their requirements and repay it at their convenience. Much like a normal Business Loan, the loan is availed against zero collaterals. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for individuals and self-employed business owners.
Any individual requiring funds can apply for a Business Loan Flexi Funds to a maximum loan amount of INR 50 lakhs.
Those who apply for Business Loan Flexi Funds can make the most of a long repayment tenure of up to 5 years.
Any individual requiring funds for business purposes can apply for a Business Loan Flexi Funds.
The funds from the Business Loan Flexi Funds can be utilized for various business-related purposes like business expansion, inventory management, cash flow management, employee payments, or other professional needs. Although the interest rate for the business loan may vary, utilizing a business loan EMI calculator can assist you in understanding your monthly payments and better planning your finances.
Business Loan Flexi Fund interest rate is calculated only to the utilized amount from the total withdrawable limit. With Business Loan Flexi Funds, you enjoy the freedom to repay and reuse funds within the specified limit and tenure, similar to an Overdraft Facility.
The EMI for Business Loan Flexi Funds calculates interest on the utilized limit. Interest equals the EMI as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Only in instances where there is an insufficient withdrawable limit remaining, the EMI include the principle and the interest on the utilized amount.
In a conventional Business Loan, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month.
Business Loan Flexi Loans is similar to an overdraft facility. Customers receive a sanctioned limit with a withdrawable limit and the subsequent EMIs include only interest on the utilized amount from the sanctioned/withdrawable limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between a Business Loan and a Business Loan Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers below variants of the Business Loan Flexi Funds:
- Monthly Variant
- Hybrid Variant
Defaulting on EMI repayment for Business Loan Flexi Funds, much like any other loan, can result in consequences, such as adverse effects on your credit score, imposition of penalties, legal proceedings and such others.
Adhering to repayment obligations is crucial.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay Business Loan Flexi Funds at their convenience.
Business Loan Flexi Funds – Variants
In the monthly variant of Business Loan Flexi Funds, the withdrawal limit is systematically reduced each month, proportionally reducing from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the interest rate continues to be applied monthly based on the used limit.
In the monthly variant of Business Loan Flexi Funds, the withdrawable limit is constant for a fixed period after which it will drop every month. The drop proportionally reduces from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for a Business Loan in Flexi Funds include but are not limited to bureau tracking, demographics, business revenue, and more. For more details, and the latest product updates, please get in touch with one of our customer care representatives.
Business Loan Flexi Funds are available for business purposes.
No, Business Loan Flexi Funds can be availed without collateral.
Customer Portal queries:
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in.
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January,15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Product related FAQs:
The billing cycle for Business Loan Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilisation of funds from the sanctioned limit.
The EMI primarily comprises of the interest of the utilized amount and the principal component to the extent of the amount of dropdown (as applicable).
At the end of the day on the 26th of the month, the bill is generated based on interest computation. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
Yes, customers can request a change in the repayment account by logging into the customer portal or contacting the customer contact centre for assistance.
- Business Loan for Women
- NACH
- Flexi Funds
A Business Loan for Women from Godrej Capital is the key to unsecured or collateral-free funding for various business needs of female entrepreneurs. Whether it's expanding your business, purchasing assets, or managing working capital, we've got you covered. Apply for a Business Loan with Godrej Capital, and fuel your business dreams hassle-free.
Our Business Loans for women entrepreneurs like you are designed to ensure support for your business, like expansion, diversification, and improving your existing setup. As a startup or a small business owner, you can benefit from our MSME loans, boosting your working capital, hiring new talent, purchasing inventory, machinery, or even starting a new venture.
With Godrej Capital Business Loans for women, enjoy the advantage of higher loan amounts, reaching up to INR 50 lakhs, all without the need for collateral. With a seamless application process, requiring minimal documentation, we ensure a quick and hassle-free disbursal process.
You can avail a loan amount up to INR 50 lakhs, calculated based on your income and other parameters, making it a versatile solution for various business requirements. To access Business Loan EMI calculator, click here
No need for collateral! These Business Loans are available mortgage-free, ensuring a straightforward application process where meeting eligibility criteria is your key to unlocking business financing.
Whether you're a Sole Proprietor, Partnership firm, Private Ltd Co., Unlisted Public Ltd Co., or LLP involved in Manufacturing, Trading, or Services, you're eligible to apply. Ensure you have a minimum of 3 years of business operations with an age range of 21-65 years.
No, our Business Loans are exclusively designed for business requirements. Salaried individuals may explore Loan Against Property options at Godrej Capital.
Click here to view the documents required.
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules. This offers flexibility in repayment amounts according to their financial needs based on various variants available. To know more about Design your EMI, read here.
BizRewards is an exclusive rewards program offered by Godrej Capital to appreciate and recognize our valued customers for their commitment to timely repayments. It goes beyond the conventional benefits of maintaining a good credit score, providing exciting rewards in the form of exciting vouchers. To know more about BizRewards read more here.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
General FAQs
Business Loan Flexi Funds is a facility like Overdraft, which offers borrowers a sanctioned limit, enabling them to withdraw any amount within the sanctioned limit as per their requirements and repay it at their convenience. Much like a normal Business Loan, the loan is availed against zero collaterals. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for individuals and self-employed business owners.
Any individual requiring funds can apply for a Business Loan Flexi Funds to a maximum loan amount of INR 50 lakhs.
Those who apply for Business Loan Flexi Funds can make the most of a long repayment tenure of up to 5 years.
Any individual requiring funds for business purposes can apply for a Business Loan Flexi Funds.
The funds from the Business Loan Flexi Funds can be utilized for various business-related purposes like business expansion, inventory management, cash flow management, employee payments, or other professional needs. Although the interest rate for the business loan may vary, utilizing a business loan EMI calculator can assist you in understanding your monthly payments and better planning your finances.
Business Loan Flexi Fund interest rate is calculated only to the utilized amount from the total withdrawable limit. With Business Loan Flexi Funds, you enjoy the freedom to repay and reuse funds within the specified limit and tenure, similar to an Overdraft Facility.
The EMI for Business Loan Flexi Funds calculates interest on the utilized limit. Interest equals the EMI as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Only in instances where there is an insufficient withdrawable limit remaining, the EMI include the principle and the interest on the utilized amount.
In a conventional Business Loan, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month.
Business Loan Flexi Loans is similar to an overdraft facility. Customers receive a sanctioned limit with a withdrawable limit and the subsequent EMIs include only interest on the utilized amount from the sanctioned/withdrawable limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between a Business Loan and a Business Loan Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers below variants of the Business Loan Flexi Funds:
- Monthly Variant
- Hybrid Variant
Defaulting on EMI repayment for Business Loan Flexi Funds, much like any other loan, can result in consequences, such as adverse effects on your credit score, imposition of penalties, legal proceedings and such others.
Adhering to repayment obligations is crucial.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay Business Loan Flexi Funds at their convenience.
Business Loan Flexi Funds – Variants
In the monthly variant of Business Loan Flexi Funds, the withdrawal limit is systematically reduced each month, proportionally reducing from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the interest rate continues to be applied monthly based on the used limit.
In the monthly variant of Business Loan Flexi Funds, the withdrawable limit is constant for a fixed period after which it will drop every month. The drop proportionally reduces from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for a Business Loan in Flexi Funds include but are not limited to bureau tracking, demographics, business revenue, and more. For more details, and the latest product updates, please get in touch with one of our customer care representatives.
Business Loan Flexi Funds are available for business purposes.
No, Business Loan Flexi Funds can be availed without collateral.
Customer Portal queries:
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in.
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January,15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Product related FAQs:
The billing cycle for Business Loan Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilisation of funds from the sanctioned limit.
The EMI primarily comprises of the interest of the utilized amount and the principal component to the extent of the amount of dropdown (as applicable).
At the end of the day on the 26th of the month, the bill is generated based on interest computation. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
Yes, customers can request a change in the repayment account by logging into the customer portal or contacting the customer contact centre for assistance.
- Business Loan for MSMEs
- NACH
- Flexi Funds
Business Loan for MSMEs is an unsecured financial solution crafted for the diverse business needs of MSMEs, such as business expansion, acquisition of long-term assets, or meeting working capital requirements. At Godrej Capital, our Business Loans offer a predetermined amount without the necessity of collateral. Whether it's expanding your business, purchasing assets, or managing working capital, we've got you covered. Apply for a Business Loan with Godrej Capital, and fuel your business dreams hassle-free.
Ensuring steady business cash flow
Fund business expansion or diversification
Improve existing business set-up
Boost working capital reserves
Hire new workforce
Purchase and stock inventory
Buy new machinery, equipment, or software
With the Godrej Capital Small Business Loan, MSMEs can avail of higher loan amounts of up to INR 50 lakhs, without the need for collateral. The application process is hassle-free with minimal documentation, and the disbursal process is seamless and quick. Godrej Capital also offers features like BizRewards, Design Your EMI, and competitive interest rates starting from 17%.
You can apply for a maximum loan amount of up to INR 50 lakhs, wherein the amount disbursed would be calculated based on your income and other parameters. To access the Business Loan EMI calculator, click here.
No, the Small Business Loan is a mortgage-free offering and requires you to only meet the simple business loan eligibility criteria to qualify for business financing.
To apply for a Small Business Loan, one should be a Sole Proprietor / Partnership firm / Private Ltd Co. / Unlisted Public Ltd Co. / LLP involved in the business of Manufacturing, Trading, or Services. The person applying for the business loan should be aged between 21 and 65 years with a minimum of 3 years vintage of business operations.
No, a salaried individual can not apply for or take a business loan. It is available only for catering to business requirements. Salaried individuals may go for a Loan Against Property from Godrej Capital.
Click here to view the documents required.
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules. This offers flexibility in repayment amounts according to their financial needs based on various variants available. To know more about Design your EMI, read here.
BizRewards is an exclusive rewards program offered by Godrej Capital to appreciate and recognize our valued customers for their commitment to timely repayments. It goes beyond the conventional benefits of maintaining a good credit score, providing exciting rewards in the form of exciting vouchers. To know more about BizRewards read more here.
National Automated Clearing House (NACH) is a centralized structure created to make payments more accessible and cost-effective. It offers a fast and efficient clearing platform. The NACH debit mandate is used by Godrej Capital to automatically deduct monthly instalments from your bank account for the loan availed.
There are two ways to cancel NACH mandate.
- You can log in to the Customer Portal and request to cancel the mandate through the Write to Us section.
- You can also send an email to customercare@godrejcapital.com through registered email ID or call our Customer Care at +91 22 68815555 through a registered mobile number and place a request for NACH mandate cancellation.
Kindly ensure to provide the Loan Account Number (LAN) when making the request, and our team will reach out to you within 48 hrs.
General FAQs
Business Loan Flexi Funds is a facility like Overdraft, which offers borrowers a sanctioned limit, enabling them to withdraw any amount within the sanctioned limit as per their requirements and repay it at their convenience. Much like a normal Business Loan, the loan is availed against zero collaterals. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for individuals and self-employed business owners.
Any individual requiring funds can apply for a Business Loan Flexi Funds to a maximum loan amount of INR 50 lakhs.
Those who apply for Business Loan Flexi Funds can make the most of a long repayment tenure of up to 5 years.
Any individual requiring funds for business purposes can apply for a Business Loan Flexi Funds.
The funds from the Business Loan Flexi Funds can be utilized for various business-related purposes like business expansion, inventory management, cash flow management, employee payments, or other professional needs. Although the interest rate for the business loan may vary, utilizing a business loan EMI calculator can assist you in understanding your monthly payments and better planning your finances.
Business Loan Flexi Fund interest rate is calculated only to the utilized amount from the total withdrawable limit. With Business Loan Flexi Funds, you enjoy the freedom to repay and reuse funds within the specified limit and tenure, similar to an Overdraft Facility.
The EMI for Business Loan Flexi Funds calculates interest on the utilized limit. Interest equals the EMI as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Only in instances where there is an insufficient withdrawable limit remaining, the EMI include the principle and the interest on the utilized amount.
In a conventional Business Loan, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month.
Business Loan Flexi Loans is similar to an overdraft facility. Customers receive a sanctioned limit with a withdrawable limit and the subsequent EMIs include only interest on the utilized amount from the sanctioned/withdrawable limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between a Business Loan and a Business Loan Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers below variants of the Business Loan Flexi Funds:
- Monthly Variant
- Hybrid Variant
Defaulting on EMI repayment for Business Loan Flexi Funds, much like any other loan, can result in consequences, such as adverse effects on your credit score, imposition of penalties, legal proceedings and such others.
Adhering to repayment obligations is crucial.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay Business Loan Flexi Funds at their convenience.
Business Loan Flexi Funds – Variants
In the monthly variant of Business Loan Flexi Funds, the withdrawal limit is systematically reduced each month, proportionally reducing from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the interest rate continues to be applied monthly based on the used limit.
In the monthly variant of Business Loan Flexi Funds, the withdrawable limit is constant for a fixed period after which it will drop every month. The drop proportionally reduces from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for a Business Loan in Flexi Funds include but are not limited to bureau tracking, demographics, business revenue, and more. For more details, and the latest product updates, please get in touch with one of our customer care representatives.
Business Loan Flexi Funds are available for business purposes.
No, Business Loan Flexi Funds can be availed without collateral.
Customer Portal queries:
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in.
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January,15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Product related FAQs:
The billing cycle for Business Loan Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilisation of funds from the sanctioned limit.
The EMI primarily comprises of the interest of the utilized amount and the principal component to the extent of the amount of dropdown (as applicable).
At the end of the day on the 26th of the month, the bill is generated based on interest computation. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
Yes, customers can request a change in the repayment account by logging into the customer portal or contacting the customer contact centre for assistance.
- Professional Loan for Doctors
- Flexi Funds
Only professionally qualified Doctors pursuing independent medical practice or running a clinic are eligible to apply for the loan.
Professional Loan for Doctors can be used to meet professional purposes or certain financial obligations. You can use these funds for professional purposes, like hiring new staff, purchasing new technology, expanding your profession, etc.
Professional Loan for Doctors is available at a competitive rate starting from 14% p.a. to provide a cost-effective financing solution.
The maximum loan amount that can be availed through our Professional Loan for Doctors is INR 35 Lakhs - subject to certain factors.
The tenure of a Professional Loan for Doctors ranges between 12 and 60 months - subject to certain factors.
The eligibility for a Professional Loan for Doctors is influenced by various factors, including but not limited to:
- Degree & College (MD, MBBS, MDS & BDS)
- Ownership status of Clinic
- Work experience
- Geographic location of the practice
- CIBIL score
- Other terms and conditions
The documents required are:
- Identity and Address Proof
- Bank statement of last 6 months
- Qualification proof of the highest professional degree
- Medical Registration Certificate
- Property Ownership Proof (Residential/Commercial)
Personal loan caters to salaried Doctors, whereas Professional Loan for Doctors is specifically curated for Doctors in India pursuing independent medical practice or running a clinic.
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules. This offers flexibility in repayment amounts according to their financial needs based on various variants available. To know more about Design your EMI, read here.
BizRewards is an exclusive rewards program offered by Godrej Capital to appreciate and recognize our valued customers for their commitment to timely repayments. It goes beyond the conventional benefits of maintaining a good credit score, providing exciting rewards in the form of exciting vouchers. To know more about BizRewards read more here.
General FAQs
Professional Loan Flexi Funds is a facility like Overdraft, which offers borrowers a sanctioned limit, enabling them to withdraw any amount within the sanctioned limit as per their requirements and repay it at their convenience. Much like the Professional Loan, the loan is availed by a professional practitioner. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for professional individuals and self-employed professional owners.
Any individual requiring funds can apply for a Professional Loan Flexi Funds to a maximum loan amount of INR 50 lakhs.
Those who apply for Professional Loan Flexi Funds can make the most of a long repayment tenure of up to 5 years.
Any professional practitioner requiring funds for professional purposes and possessing the relevant degrees can apply for a Professional Loan Flexi Fund. It is just like applying for an Overdraft Facility.
The funds from the Professional Loan Flexi Funds can be utilized for professional practice purposes like expansion, buying new equipment, cash flow, or other professional needs. Although the interest rate for a Professional Loan may vary, utilizing a Professional Loan EMI calculator can assist you in understanding your monthly payments and better planning your finances.
Professional Loan Flexi Fund interest rate is calculated only to the utilized amount from the total withdrawable limit. With Professional Loan Flexi Funds, you enjoy the freedom to repay and reuse funds within the sanctioned limit and tenure, similar to an Overdraft Facility.
The EMI for Professional Loan Flexi Funds calculates interest on the utilized limit. Interest equals the EMI as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Only in instances where there is an insufficient withdrawable limit remaining, the EMI includes the dropline limit and the interest on the utilized amount.
In a conventional Professional Loan, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month..
Professional Loan Flexi Loans is similar to an overdraft facility. Customers receive a sanctioned limit with a withdrawable limit and the subsequent EMIs include only interest on the utilized amount from the sanctioned limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between a Professional Loan and a term Professional Loan Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers five variants of the Professional Loan Flexi Funds:
- Monthly Variant
- Hybrid Variant
Defaulting on EMI repayment for Professional Loan Flexi Funds, much like any other loan, can result in severe consequences, such as adverse effects on your credit score, imposition of penalties, legal proceedings, and the potential forfeiture of the pledged property collateral.
Adhering to repayment obligations is crucial.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay Professional Loan Flexi Funds at their convenience.
Professional Loan Flexi Funds – Variants
In the monthly variant of Professional Loan Flexi Funds, the withdrawal limit is systematically reduced each month, proportionally reducing from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the Professional Loan interest rate continues to be applied monthly based on the used limit.
In the monthly variant of Professional Loan Flexi Funds, the withdrawable limit is constant for a fixed period after which it will drop every month. The drop proportionally reduces from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the Professional Loan interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for Professional Loan Flexi Funds include but are not limited to bureau tracking, demographics, revenue, and more. For more details, and the latest policy updates, please get in touch with one of our customer care representatives.
Professional Loan Flexi Funds are exclusively available for practising professionals.
Yes, you can mortgage multiple properties to increase the total value of a Professional Loan Flexi Funds limit, contingent upon credit policies. The Professional Loan interest rate will be determined accordingly.
Customer Portal Queries
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in.
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year, and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January, 15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Product related FAQs
The billing cycle for Professional Loan Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilisation of funds from the assigned limit.
The EMI primarily comprises the interest of the utilized amount and the principal component to the extent of the amount of dropdown (as applicable) interest on the utilized amount.
At the end of the day on the 26th of the month, the bill is generated based on interest computation. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
Yes, customers can request a change in the repayment account by logging into the customer portal or contacting the customer contact centre for assistance.
- Professional Loan for Chartered Accountants
- Flexi Funds
A Professional Loan for Chartered Accountants is a specialised financial solution provided by Godrej Capital to support CAs in meeting their unique financial requirements. It is designed to help them expand their practice, enhance financial services, and manage professional expenses without the need for collateral.
Applying for a Professional Loan with Godrej Capital is a seamless process. You can initiate the application online by visiting our website and filling out the application form. The latest technological advancements allow for a rapid eligibility check within 24 hours.
A Professional Loan for Chartered Accountants can be used for various purposes, including but not limited to practice expansion, superior technology, office infrastructure, hiring skilled personnel, and meeting other professional needs.
Godrej Capital offers Professional Loans with a substantial loan limit of up to INR 30 lakhs. This allows Chartered Accountants to make significant improvements to their professional services.
Eligibility for a Professional Loan is primarily based on the qualifications and experience of the Chartered Accountants. The other prerequisites include but are not limited to:
A resident Indian
Between the age of 25-65 years of age
A practicing Chartered Accountant for minimum 5 years.
Meeting these criteria enhances the chances of securing financial support, considering a good credit history of the applicant.
The documentation requirements for a Professional Loan are streamlined, minimizing complexity. Specific documents may include:
- KYC documents like ID and address proof
- Proof of qualifications
- Proof of experience
- Proof of income
- Other relevant financial documents
- Certificate of practice and ICAI registration
The tenure for a Professional Loan for Chartered Accountants varies, providing flexibility based on individual needs. The repayment period can be chosen to align with the financial capacity of the CA.
No, a Professional Loan for Chartered Accountants with Godrej Capital does not require collateral. This allows CAs to safeguard their valuable assets while securing the necessary funds to enhance their professional practice.
BizRewards is an exclusive rewards program offered by Godrej Capital to appreciate and recognize our valued customers for their commitment to timely repayments. It goes beyond the conventional benefits of maintaining a good credit score, providing exciting rewards in the form of exciting vouchers.
Design Your EMI is a flexible repayment facility that allows borrowers to tailor their EMI schedules, offering flexibility in repayment amounts according to their financial needs. The feature comes in two variants: annual and quarterly. In the annual variant, customers can opt to pay interest only for up to 24 months for a 5-year tenure. Meanwhile, in the quarterly variant, customers have the flexibility to select a quarter each year, to repay interest-only (capped at 4 quarters in the tenure). This empowers customers to Design EMI according to their business requirements.
General FAQs
Professional Loan Flexi Funds is a facility like Overdraft, which offers borrowers a sanctioned limit, enabling them to withdraw any amount within the sanctioned limit as per their requirements and repay it at their convenience. Much like the Professional Loan, the loan is availed by a professional practitioner. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for professional individuals and self-employed professional owners.
Any individual requiring funds can apply for a Professional Loan Flexi Funds to a maximum loan amount of INR 50 lakhs.
Those who apply for Professional Loan Flexi Funds can make the most of a long repayment tenure of up to 5 years.
Any professional practitioner requiring funds for professional purposes and possessing the relevant degrees can apply for a Professional Loan Flexi Fund. It is just like applying for an Overdraft Facility.
The funds from the Professional Loan Flexi Funds can be utilized for professional practice purposes like expansion, buying new equipment, cash flow, or other professional needs. Although the interest rate for a Professional Loan may vary, utilizing a Professional Loan EMI calculator can assist you in understanding your monthly payments and better planning your finances.
Professional Loan Flexi Fund interest rate is calculated only to the utilized amount from the total withdrawable limit. With Professional Loan Flexi Funds, you enjoy the freedom to repay and reuse funds within the sanctioned limit and tenure, similar to an Overdraft Facility.
The EMI for Professional Loan Flexi Funds calculates interest on the utilized limit. Interest equals the EMI as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Only in instances where there is an insufficient withdrawable limit remaining, the EMI includes the dropline limit and the interest on the utilized amount.
In a conventional Professional Loan, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month..
Professional Loan Flexi Loans is similar to an overdraft facility. Customers receive a sanctioned limit with a withdrawable limit and the subsequent EMIs include only interest on the utilized amount from the sanctioned limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between a Professional Loan and a term Professional Loan Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers five variants of the Professional Loan Flexi Funds:
- Monthly Variant
- Hybrid Variant
Defaulting on EMI repayment for Professional Loan Flexi Funds, much like any other loan, can result in severe consequences, such as adverse effects on your credit score, imposition of penalties, legal proceedings, and the potential forfeiture of the pledged property collateral.
Adhering to repayment obligations is crucial.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay Professional Loan Flexi Funds at their convenience.
Professional Loan Flexi Funds – Variants
In the monthly variant of Professional Loan Flexi Funds, the withdrawal limit is systematically reduced each month, proportionally reducing from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the Professional Loan interest rate continues to be applied monthly based on the used limit.
In the monthly variant of Professional Loan Flexi Funds, the withdrawable limit is constant for a fixed period after which it will drop every month. The drop proportionally reduces from the sanctioned limit. By the end of the loan tenure, the withdrawable limit reaches "0". However, the Professional Loan interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for Professional Loan Flexi Funds include but are not limited to bureau tracking, demographics, revenue, and more. For more details, and the latest policy updates, please get in touch with one of our customer care representatives.
Professional Loan Flexi Funds are exclusively available for practising professionals.
Yes, you can mortgage multiple properties to increase the total value of a Professional Loan Flexi Funds limit, contingent upon credit policies. The Professional Loan interest rate will be determined accordingly.
Customer Portal Queries
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in.
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year, and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January, 15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Product related FAQs
The billing cycle for Professional Loan Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilisation of funds from the assigned limit.
The EMI primarily comprises the interest of the utilized amount and the principal component to the extent of the amount of dropdown (as applicable) interest on the utilized amount.
At the end of the day on the 26th of the month, the bill is generated based on interest computation. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
Yes, customers can request a change in the repayment account by logging into the customer portal or contacting the customer contact centre for assistance.
