Magnet Construction Loan

Real Estate developers can raise easy and timely finance to deliver projects before time

Apply For Magnet Construction Loan

Magnet Payday Loan

Documents Required

  • Corporate Documents: Certificate of Incorporation, PAN, GST registration, MOA/AOA, Board resolution
  • Financial Documents: Audited financials (3 years), Provisional financials, Bank statements, GST returns, Income tax returns
  • Project Documents: Title documents, Development agreement, RERA registration, Sanction plans, Commencement certificate, Project cash flow statement, Sales inventory statement
  • Promoter Documents: KYC, Net worth statement, Asset-liability statement, Bureau reports

Service Charge

  • Processing Fees: 0.25% of Loan amount + applicable GST
  • Interest Rates: 16% p.a. onwards depending on the credit risk assessment of the borrower
  • Stamp Duty and other statutory charges: On actuals
  • Prepayment / Pre-closure Charges: Upto 5% or the principal amount being repaid + applicable taxes
  • Penal & Other charges: As per T&C mentioned in the sanctioned letter