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Empowering self-employed entrepreneurs through intelligent credit assessment based on banking velocity, not just balance sheets.
Apply NowBanking Surrogate means ascertaining the eligibility of the customers only on the basis of his banking statements. This product is specially designed for the customers who earn variable income/ profits per month i.e. for the self-employed customers.
The fixed income earners like those of salaried class are not considered under this product to qualify for higher eligibility. This allows for a more dynamic and realistic evaluation of business health.
While the possibilities are endless, here are some common purposes for which a Banking Surrogate Business Loan can be procured:
Most NBFCs and banks used to provide loans purely on surrogates, which often led to over-leveraging. At Aparampaar Finance, we ensure a balanced approach.
Borrowers with a clean track record on large loans (Equipment, Mortgage, Commercial Vehicle) can unlock higher eligibility.
Last 3-6 months’ statements are compulsory. We focus on daily liquidity and average balances to ascertain credit worthiness.
We use standard profit margins (e.g., 10% for Mfg, 5% for Trading) to estimate income even if not fully shown in traditional tax returns.
For standard Banking Surrogate Business Loans, you can avail amounts ranging from 1 Lakh – 10 Lakhs for a tenure of 12 to 24 months (with 6-month intervals).
For larger requirements like Home Loans or Mortgages, the Banking Surrogate can extend up to Rs. 3 Crores with tenures reaching 15 years.
| Category | LTV Percentage |
|---|---|
| Home Loan | 70% |
| Mortgage (Against Residence) | 60% |
| NRP (Self-Occupied) | 65% |
| NRP (Not Self-Occupied) | 55% |
*LTV percentage is lowered by 5% for tenures exceeding 10 years.
The internal calculation method of the bank for determining the loan eligibility of the customer on the basis of his banking transactions.
We consider every single credit entry for 12 months. Formula: (Total Credit Summation for 12 months * 50%).
To qualify under the Banking Surrogate program, your accounts must reflect: