Financing Partner for Financial Institutions
Caters to your
large credit requirement
What is onward lending?
Onward lending is a loan product from RAR Fincare customized for the financing requirements of financial institutions. With flexible tenures and interest rates, firms can get both unsecured and secured loans up to Rs. 10 Cr under this scheme.
RAR Fincare, with its robust technology backbone, has designed a simple and swift application process that ensures fund disbursal within 4 days of submitting the completed loan application.
Check your onward lending eligibility
We provide loans to all types of financial institutions registered under Central Government / State Governments / Regulators such as RBI and NHB. We rely on your business and cash flow data for approving loans. Therefore, it helps if you share the list of documents detailed in the documentation section.
We request you to either visit the nearby RAR Fincare branch or reach out to us via this website. Our representative will get in touch with you to take the loan application further.
*The eligibility for a loan and the applicable interest rate are subject to change depending upon the customer’s credit appraisal, credit rating, and availability of security, among various other factors.
Documents required for onward lending
KYC Documents
The mandatory set of documents includes identity proof, address proof, signature verification, and photographs.
ITR & GST Returns
Past 3 years’ ITR / GST returns are to be submitted.
Income Proof
Audited business financial statements for the past 3 years and projected statements for the next 3 years. If financial statements are not available, then CA certified net-worth statements are to be submitted.
Business Proof
A brief description of your business and certificate of registration
Bank Statement Copy
Past 12 months’ bank statements (CC/OD/CA) as well as Repayment Track Record (RTR) details of existing loans.
Other Documents
Additional business-specific details as requested by the RAR Fincare representative
Fees and Charges
What is the interest rate on onward lending?
Our onward lending interest rates are competitive amongst the other players in the industry. Depending on loan eligibility, income, your business and other criteria, we determine the best interest rate for your loan requirement.
When you apply for financing with RAR Fincare, you do not have to worry about any hidden charges. Whether it is related to processing fees, foreclosure charges, or delayed EMI payments, all information is transparently provided for the smooth processing of your loan application.
| Fee & Charges* | Amount |
|---|---|
| Loan processing fee | 1% to 3% of the loan amount + Applicable GST |
| Due diligence charges | INR 1000 to INR 2000 |
| Penal Interest | Penal interest to be charged @ 4% over and above the applicable interest rate on overdue/delay/default of any amount payable unless otherwise indicated |
| Cancellation charges | INR 5000 or 0.50% of the loan amount, whichever is higher |
| Pre-payment charges (Term Loan) | 4% of the principal outstanding |
| Foreclosure charges | 4% of the principal outstanding at the time of foreclosure |
| Cheque bounce charges/ACH failure charges | INR 400 |
| Repayment mode swap charges (PDC to ECS) | INR 400 |
| Stamp duty / Stamping charges/Franking charges | At actuals |
| Loan reschedulement charges | INR 2500 |
| Loan restructuring charges | INR 3500 |
| Duplicate NOC or No Due Certificate | INR 250 per request |
| Charges towards legal expenses in case of overdue/ default/ recovery / Legal action | At actuals |
| Cash collection charges | 1% of the collection amount for Rs. 50,000 and above Cash collection is permitted only up to INR 2,00,000 |
| Duplicate repayment schedule | INR 300 |
| Loan statement / Statement of account charges | INR 200 |
| Pre-payment statement charges | INR 200 |
| Duplicate foreclosure statement charges | INR 200 |
| Copy of Loan agreement | INR 500 |
| CERSAI charges | INR 250 to INR 500 |
| Other charges - miscellaneous | At actuals |
*Charges may be updated from time to time. Please refer to the loan agreement for applicable charges.
General eligibility criteria for Financial Institutions
- The organization must have minimum of 1 year of operational history
- The current net worth of the financial institution shall be positive
- The institution’s leverage ratio must not exceed the limit as set by regulating agencies
- The organization should have a sound lending portfolio
Our Unique Features & Benefits
RAR Fincare has established high-quality relationships with customers and provides excellent services in its focus market areas. Our priorities are customer satisfaction & prudent growth, and we have designed tailor-made products to meet the requirements of our customers.
Funds up to Rs. 2 Cr
Get ample amount sanctioned meeting your requirements
Repayment made flexible
Flexible repayment options (EMI and bullet) and longer tenure
Simple application
Streamlined loan journey, and we’re available to help you throughout
Attractive interest rates
An interest rate of 12% onwards for eligible borrowers
4 simple steps to receive your loan
1
Raise your Requirement
Enter your personal, business & bank details to get a fair loan offer
2
Submit Documents
Our team assists you throughout to complete the application
3
Get Sanctioned
Accept loan offer and execute loan documents
4
Instant Cash
Choose from flexible repayment options and start receiving funds
Frequently Asked Questions
How To Apply
RAR Fincare has established high-quality relationships with customers and provides excellent services in its focus market areas. Our priorities are customer satisfaction & prudent growth, and we have designed tailor-made products to meet the requirements of our customers.
Why RAR Fincare for your Business Loan?
We have developed a smooth and simple loan application journey with the help of a robust technology solution. From the start of the loan application till the disbursement of the fund, our representative will help throughout the loan journey.
Keeping in mind the myriad requirements of our customers, we have allowed flexible repayment options, longer tenure, and higher loan amounts at attractive interest rates.
We do not enforce stringent security requirements for eligible customers and offer loans without any collateral. For others, we accept a wide range of securities – be it your property, machinery, or stocks and receivables.
How is EMI calculated?
The formula which is used to calculate the equated monthly instalments that you are required to pay RAR Fincare for availing the loan is
P x R x (1+R)^N/[(1+R) ^ (N-1)]
where P stands for the principal amount, R is the rate of interest, and N is the loan tenure.
What happens if I miss one EMI payment?
RAR Fincare will charge a penalty fee if a borrower misses an EMI payment. A missed or delayed instalment payment will reflect on your credit report. Not making loan due amount payments on time can have a negative effect on your credit score.
How long will it take to receive my funds?
Once the application is duly submitted, it’ll take approximately 4 business days to disburse funds to your bank account.
What is the maximum tenure for a business loan?
We allow up to 7 years for secured business loans and up to 3 years for unsecured business loans.
What is the minimum CIBIL score required?
If your CIBIL score is above 650, then you will be eligible to obtain a loan from us. Customers with CIBIL scores below 650 would undergo additional checks from our side before sanctioning the loan.
What all is accepted as collateral for a business loan?
We accept the following list of collaterals as part of the business loan application: –
- Plant and Machinery (New or existing)
- Residential Property (Self Occupied or rented out)
- Commercial Property (Self Occupied or rented out)
- Industrial Property
- Residential-cum-Commercial property
- Plot (bounded by wall)
- Acceptable Liquid Instruments
- Stocks and Receivables
Will my EMI change in the future or remains the same?
If repayment has not defaulted at any point, then your EMI amount will remain the same throughout the tenure of the loan.
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