Loan FAQS

An MSME Business Loan is a financing solution designed to help micro, small, and medium enterprises meet a variety of business needs. It can be used to support working capital requirements, business expansion, equipment purchases, or other eligible business expenses, subject to Choice Finserv's lending policies.

Eligible self-employed individuals, proprietorships, partnership firms, LLPs, private limited companies, and other eligible business entities can apply for an MSME Business Loan. Loan approval is subject to the applicant meeting Choice Finserv's eligibility criteria and credit assessment requirements.

An MSME Business Loan can be used for a range of business purposes, such as managing working capital, expanding operations, purchasing business assets or equipment, meeting operational expenses, or supporting other eligible business requirements.

The eligible loan amount is determined after evaluating various factors, including your business profile, income, repayment capacity, financial documents, credit assessment, and other applicable eligibility criteria. The final loan amount is subject to Choice Finserv's internal credit evaluation.

The documents required may vary depending on your applicant profile and business type. You are likely to be asked to provide identity and address proof, business-related documents, income and financial documents, bank statements, and property documents, where applicable. Additional documents may be requested during the loan assessment process.

MSME Business Loans are generally repaid through Equated Monthly Instalments (EMIs) over the approved loan tenure agreed between the applicant and the lender. The repayment schedule is communicated at the time of loan sanction, and repayments are made through the approved payment modes.

Yes, you may be able to prepay or foreclose your MSME Business Loan, subject to the applicable terms, conditions, and charges in effect at the time of your request. Please contact Choice Finserv for details applicable to your loan account.

You can apply for an MSME Business Loan by submitting your application along with the required documents through Choice Finserv's designated application channels. Once your application is received, it will be evaluated as per the applicable eligibility and credit assessment process before a lending decision is made.

A Loan Against Property (LAP) is a secured loan that allows you to borrow funds by pledging your residential, commercial, or other eligible property as collateral. The loan can be used to meet a variety of personal or business financial requirements, subject to Choice Finserv's lending policies.

Choice Finserv generally accepts eligible residential, commercial, and certain other immovable properties as collateral, subject to legal, technical, and valuation assessments. Acceptance of a property is determined during the loan evaluation process.

A Loan Against Property can be used for a range of eligible personal or business purposes, such as business expansion, working capital requirements, education expenses, medical emergencies, home renovation, or other financial needs, which are subject to applicable lending policies.

The eligible loan amount is determined after evaluating factors such as the value of the property offered as collateral, the applicant's income, repayment capacity, financial profile, credit assessment, and other applicable eligibility criteria. The final loan amount is subject to Choice Finserv's internal credit evaluation.

Yes, you can. Since the property is pledged as collateral, you can generally continue to occupy or use it during the loan tenure, provided you comply with the terms and conditions of the loan agreement.

The documents required may vary based on your applicant profile and the property being offered as collateral. Typically, you will be required to provide identity and address proof, income and financial documents, bank statements, and property-related documents. Additional documents may be requested during the loan assessment process.

Yes, you may be able to prepay or foreclose your Loan Against Property, subject to the applicable terms, conditions, and charges in effect at the time of your request. Please contact Choice Finserv for details applicable to your loan account.

Once all outstanding dues have been cleared and the loan has been closed in accordance with the loan agreement, Choice Finserv will initiate the release of the pledged property documents and complete the applicable closure formalities.

Solar Finance is a loan solution designed to help individuals, businesses, and other eligible applicants finance the purchase and installation of solar energy systems. Solar loan enables borrowers to adopt renewable energy solutions while spreading the cost over a convenient repayment tenure, subject to Choice Finserv's lending policies.

Individuals, businesses, institutions, and other applicant categories can apply for Solar Finance provided they are eligible. Loan approval is subject to the applicant meeting Choice Finserv's eligibility criteria and credit assessment requirements.

Solar Finance can be used to finance the purchase and installation of all eligible and required solar energy systems and related components, subject to Choice Finserv's lending policies and applicable product terms.

Loan eligibility is determined after evaluating various factors, including the applicant's financial profile, repayment capacity, credit assessment, and other applicable eligibility criteria. The final loan approval and sanctioned amount are subject to Choice Finserv's internal credit evaluation.

The documents required depend on the applicant's profile and the proposed solar project. Generally, you will be asked to provide identity and address proof, income or business-related documents, bank statements, and documents related to the proposed installation. Additional documents may be requested during the loan assessment process.

Solar Finance is generally repaid through Equated Monthly Instalments (EMIs) over the approved loan tenure. Repayments are typically made through approved electronic payment modes, including NACH, in accordance with the loan agreement.

Yes, you may be able to prepay your Solar Finance loan, which is subject to the applicable terms, conditions, and charges in effect at the time of your request. Please contact Choice Finserv for details applicable to your loan account.

You can apply for Solar Finance by submitting your application along with the required documents through Choice Finserv's designated application channels. Once your application is received, it will be evaluated as per the applicable eligibility and credit assessment process before a lending decision is made.

Equipment Funding is a financing solution that helps individuals and businesses purchase eligible machinery or equipment without making a large upfront investment. It supports business growth by making it easier to acquire assets needed for day-to-day operations or expansion. This aligns with the product's stated purpose of financing the acquisition and installation of equipment.

Individuals, self-employed professionals, businesses, MSMEs, and other eligible business entities can apply for Equipment Funding. Loan approval is subject to the applicant meeting Choice Finserv's eligibility criteria and credit assessment requirements. Equipment Funding is designed for both individuals and MSME/business profiles.

Equipment Funding can be used to finance eligible machinery and equipment required for business or professional use. The type of equipment that can be funded is determined in accordance with Choice Finserv's lending policies and product eligibility criteria. Funding is for the purchase and installation of equipment only.

The eligible loan amount is determined after evaluating factors such as the applicant's financial profile, repayment capacity, credit assessment, the equipment being financed, and other applicable eligibility criteria. The final sanctioned amount is subject to Choice Finserv's internal credit evaluation.

The documents required vary depending on your applicant profile and the equipment being financed. You will be asked to provide identity and address proof, income or business-related documents, bank statements, and equipment-related documents, including quotations or invoices, where applicable. Additional documents may be requested during the loan assessment process.

Equipment Funding is generally repaid through Equated Monthly Instalments (EMIs) over the approved loan tenure. Repayments are made through the approved payment modes specified in the loan agreement.

Yes, you may be able to prepay or foreclose your Equipment Funding loan, which is subject to the applicable terms, conditions, and charges in effect at the time of your request. Please contact Choice Finserv for details applicable to your loan account.

You can apply for Equipment Funding by submitting your application along with the required documents through Choice Finserv's designated application channels. Once your application is received, it will be evaluated as per the applicable eligibility and credit assessment process before a lending decision is made.

A Corporate Business Loan is a financing solution designed to help eligible businesses meet their funding requirements. It can be used to support business expansion, working capital needs, project funding, acquisition of business assets, or other eligible corporate financing requirements, subject to Choice Finserv's lending policies.

Eligible companies, corporate entities, and other qualifying business organisations can apply for a Corporate Business Loan. Loan approval is subject to the applicant meeting Choice Finserv's eligibility criteria and credit assessment requirements.

A Corporate Business Loan can be used for a variety of eligible business purposes, including business expansion, working capital requirements, capital expenditure, project financing, refinancing of eligible business obligations, or other operational and growth-related needs.

The eligible loan amount is determined after evaluating various factors, including the applicant's financial profile, business performance, repayment capacity, credit assessment, and other applicable eligibility criteria. The final sanctioned amount is subject to Choice Finserv's internal credit evaluation.

The documents required can vary based on your business profile and financing requirements. Generally, you are asked to provide identity and address proof of authorised signatories, business registration documents, financial statements, bank statements, income-related documents, and other supporting documents relevant to the loan application. Additional documents may be requested during the loan assessment process.

Corporate Business Loans are generally repaid through Equated Monthly Instalments (EMIs) or other approved repayment structures, depending on the nature of the loan and the agreed terms. The applicable repayment schedule will be communicated at the time of loan sanction.

Yes, you may be able to prepay or foreclose your Corporate Business Loan, subject to the applicable terms, conditions, and charges in effect at the time of your request. Please contact Choice Finserv for details applicable to your loan account.

You can apply for a Corporate Business Loan by submitting your application along with the required documents through Choice Finserv's designated application channels. Once your application is received, it will be evaluated as per the applicable eligibility and credit assessment process before a lending decision is made.

Real Estate Funding is a financing solution designed to support eligible real estate projects and development requirements. It helps developers and eligible businesses meet funding needs across various stages of residential, commercial, or mixed-use real estate projects, subject to Choice Finserv's lending policies.

Eligible real estate developers, builders, companies, partnership firms, LLPs, and other qualifying business entities may apply for Real Estate Funding. Loan approval is subject to the applicant meeting Choice Finserv's eligibility criteria and credit assessment requirements.

Real Estate Funding can be used to support eligible real estate development activities, including project construction, land acquisition where permitted, project expansion, working capital requirements, and other approved project-related funding needs, subject to Choice Finserv's lending policies.

Eligibility is determined after evaluating various factors, including the applicant's financial profile, project details, repayment capacity, credit assessment, and other applicable eligibility criteria. The final loan approval and sanctioned amount are subject to Choice Finserv's internal credit evaluation.

The documents required for submission can vary based on the applicant's profile and the proposed real estate project. Generally, one needs to provide identity and address proof, business registration documents, financial statements, bank statements, project-related documents, and statutory approvals, where applicable. Additional documents may be requested during the loan assessment process.

Real Estate Funding is generally repaid in accordance with the repayment terms agreed upon at the time of loan sanction. Hence, depending on the financing structure, repayments may be made through Equated Monthly Instalments (EMIs) or other approved repayment arrangements.

Yes, you may be able to prepay or foreclose your Real Estate Funding loan, subject to the applicable terms, conditions, and charges in effect at the time of your request. Please contact Choice Finserv for details applicable to your loan account.

You can apply for Real Estate Funding by submitting your application along with the required documents through Choice Finserv's designated application channels. Once your application is received, it will be evaluated as per the applicable eligibility and credit assessment process before a lending decision is made.

NBFC Funding is a credit facility provided by a financial institution to eligible Non-Banking Financial Companies (NBFCs) to support their lending operations, portfolio expansion, liquidity management and business growth. The funding may be structured as a term loan, Direct Assignment, Pass Through Certificate, BC or Co-lending financing arrangement, subject to the CFPL's credit policy.

Eligible applicants generally include: RBI-registered NBFCs with a valid Certificate of Registration (CoR).; NBFCs having a satisfactory operational and financial track record.; Companies meeting the lender's eligibility criteria relating to net worth, profitability, governance, asset quality, and regulatory compliance.; NBFCs with acceptable portfolio quality and internal risk management practices.

The funding may be utilized for: On-lending to eligible customers.; Business expansion and portfolio growth.; Refinancing of existing borrowings (subject to lender approval).; Meeting operational business requirements.; Any other purpose permitted under applicable RBI regulations and the lender's credit policy.; The funds should not be used for purposes prohibited under applicable laws or the loan agreement.

The sanctioned loan amount is determined after evaluating several factors, including: Financial strength and net worth of the NBFC; Asset Under Management (AUM) and portfolio quality; Capital adequacy and leverage; Repayment capacity and cash flows; Credit rating (where applicable); Security offered; Internal credit assessment conducted by CFPL Credit and Risk Team

The documentation typically includes: RBI Certificate of Registration (CoR); Certificate of Incorporation and constitutional documents; PAN, GST registration, and KYC documents; Audited financial statements for the last 2–3 years; Portfolio/AUM details, aging reports, and Data cuts with NPA details; Bank statements; Board Resolution authorizing borrowing; Details of existing borrowings and lenders; Shareholding pattern and management profile; Regulatory compliance declarations; Any additional documents required during credit appraisal

Repayment options are generally structured based on the borrower's cash flows and may include: Monthly Equated Monthly Installment (EMIs).; Interest servicing with principal repayment as per sanctioned terms.; The repayment structure is finalized at the time of sanction.

Yes. Prepayment or foreclosure may be permitted subject to the terms and conditions of the loan agreement. Depending on the facility, prepayment charges or other applicable fees may apply. Borrowers should refer to the sanction letter or loan agreement for the applicable terms of CFPL.

Please contact the CFPL team for customized guidance on NBFC Funding.

A Loan Against Shares is a secured loan that allows you to borrow funds by pledging eligible shares or other approved securities as collateral. It provides access to funds while allowing you to retain ownership of the pledged securities, subject to the terms of the loan.

Choice Finserv generally accepts eligible listed shares and other approved securities as collateral, subject to its lending policies and applicable regulatory requirements. The list of accepted securities may vary from time to time.

Yes, you continue to own your pledged shares or securities during the loan tenure. However, they remain pledged in favour of Choice Finserv until the outstanding loan obligations have been fully repaid and the pledge is released.

The eligible loan amount is determined after evaluating factors such as the value of the pledged securities, applicable margins, the applicant's financial profile, credit assessment, and other applicable eligibility criteria. The final sanctioned amount is subject to Choice Finserv's internal credit evaluation.

Pledged shares or securities generally cannot be sold unless the pledge is released or the sale is carried out in accordance with the applicable terms of the loan agreement. Please contact Choice Finserv before initiating any transaction involving pledged securities.

If the value of your pledged securities falls below the required level, Choice Finserv may request you to provide additional collateral, reduce the outstanding loan amount, or take other actions in accordance with the loan agreement and applicable terms.

The documents required may vary depending on your applicant profile and the securities being pledged. Generally, you’ll be asked to provide identity and address proof, income-related documents, bank details, Demat account information, and other supporting documents required for the loan assessment. Additional documents may be requested during the application process.

Yes, you may be able to prepay or foreclose your Loan Against Shares loan, subject to the applicable terms, conditions, and charges in effect at the time of your request. Please contact Choice Finserv for details applicable to your loan account.

You can apply for a Loan Against Shares by submitting your application along with the required documents through Choice Finserv's designated application channels. Once your application is received, it will be evaluated as per the applicable eligibility and credit assessment process before a lending decision is made.