Credit Improvement Plan

Credit Sudhaar Finance Loan Terms and Conditions

To be eligible for a loan from CSF, the client :

• must have a minimum net income of Rs 40,000 per month. All figures need to be validated by documentation. All documentary proof must be acceptable to the underwriting team of Credit Sudhaar Finance.
• must have a debt burden ratio of less than 40 % at the time of application of the loan*. Debt Burden ratio is defined as the sum of total EMIS ( including the proposed loan EMI ) divided by the person's monthly net income. All figures need to be validated by documentation. All documentary proof must be acceptable to the underwriting team of Credit Sudhaar Finance.
• must be willing to offer collateral in the form of immovable residential property** or guarantors(3/Three) with a good bureau track record to Credit Sudhaar Finance.
• must be staying in an owned house/parental house.
• must consent to mortgage ( if applicable ) of the immovable property as mentioned in clause (iii) to Credit Sudhaar Finance***. Such mortgage may, depending on the decision of the underwriting team of Credit Sudhaar Finance, take the form of a registered mortgage
• must consent to any and all verifications including, but not restricted to , residence verifications, office verifications, property valuations and submit any documentation, including income documents as may be required by the officers of Credit Sudhaar Finance.
• must participate in all counselling sessions initiated by the credit counsellors of Credit Sudhaar Services Pvt Ltd during the course of the membership
• must take all steps necessary to implement the advice of the credit counsellors of Credit Sudhaar Services Pvt Ltd during the course of the membership
• must implement all the advice of the Credit counsellor which is intended to improve the credit profile of the client
• must maintain all existing credit card and loan accounts in good standing
• must be willing to pay any fees, charges and interest that may be decided by the underwriting team of Credit Sudhaar Finance
• must abide by all other Credit Sudhaar and Credit Sudhaar Finance rules, terms, and policies

*The maximum loan amount loan tenure allowable under the loan program from CSF is 24 months.

**Such immovable property must be in the same location as the individual and must be acceptable to the underwriting team of Credit Sudhaar Finance.

***The loan amount must not exceed 40 % of the current market value of the property.