Merchandise Loan

12-compressed

Merchandise loan is offered to the customer as a bundled-offering against the existing loan. It’s a short-term credit facility provided to the customer against which the merchandise is held as a guarantee or security for the loan. This will help in fulfilling the desire of availing consumer durables.

Obtaining merchandise loan is quick, easy and hassle-free. One should have an existing relationship with Community Finance or choose to make a balance transfer from any other recognized financial institutions.

Features & Benefits

Higher Loan Amount Against the Market Offering
The loan amount will depend on the quality of customer’s credit rating and that of the collateral. It will be higher than the market offering if the customer meets the eligibility criteria of the company.

Instant & On-the-spot Approval
No branch visits required. No waiting for days. Just some basic data and get instant provisional approval subject to completion of documentation and verification.

Dedicated Relationship
Relationship officers analyse and understand needs and give the best suitable financial offering at every stage of life.

Minimal Documentation
Few essential documents like photo ID proof, residence proof, one passport size photograph and one cancelled cheque in case of NACH/NEFT for the applicant and co-applicant is required.

For details about Merchandise Loan Agreements, Terms and Conditions or have any questions, you can refer to our Merchandise Loan FAQs or can contact us at the nearest Community Finance office.

Eligibility & Documents

Individual must be between 19-60 years* (salaried/self-employed)
*Age at the time of completion of the loan

As an Applicant and Co-applicant one must have:

  • Photo ID proof
  • Residence proof
  • One Passport size photograph
  • Cancelled Cheque in case of NACH/NEFT

Fees & Charges

Please refer to the ‘Loan Charges’ section for detailed Fees and Charges related to our product offering (About Us → Policy → Loan Charges)

How to Apply

Applying for a Merchandise Loan with Community Finance is quick, easy and completely hassle-free. Read on to know more about how to apply for the same:

  • Contact our relationship officer
  • Visit our nearest branch office
  • Visit the ‘Apply Online’ section in our website

Frequently Asked Questions (FAQs)

Merchandise loan is a short-term credit facility provided to the customer against which the merchandise is held as a guarantee or security for the loan.

Customers who has an existing relationship with Community Finance or who can choose to make a balance transfer of the existing obligation from any other recognized financial institutions.

To fulfill the desire of availing consumer durables.

The loan offers competitive interest rates as against the market offerings.

The eligibility for merchandise loan depends on several factors related to the existing loan offering. Kindly visit the nearest branch or contact the relationship officers for more details.

The loan tenure of the merchandise loan is bundled with the existing loan and the balance tenure remaining for the existing loan serves as the tenure for merchandise loan.