Loan Against Property – FAQ’s

How to get loan against property from Si Creva Capital Services Private Limited?

Si Creva makes it very simple for you to get a loan against property in India. But, first check out, if you meet the eligibility criteria. Ensure, you have the required documents. The next step is to fill in the application form. You can also walk into the nearest Si Creva branch to start the process of getting a loan.

What’s the procedure to repay my loan against property?

You can repay your loan against property installment directly via a bank account or via payment link as available on Ring App. You can set up an auto-debit facility. Our customer care executives will be happy to help with any queries.

Is there any type of security required to take the loan against property?

You do not need any additional security or guarantors to avail loan against property, except for the asset you are pledging as collateral.

What is an EMI?

Once the loan amount is disbursed to your account, you make a monthly installment to pay the amount back within a fixed tenure. This is known as EMI or Equated Monthly installment. With each EMI you pay the principal amount and the interest.

What is the Security/Collateral you need to provide?

You can use the property for which you are taking a loan is the collateral or security. The loan applicant/s should have clear title of the property. The property needs to meet the norms of Si Creva in terms of Legal clearance and Technical clearance.

Who can be co-applicants to the loan?

A co-applicant to the loan is mandatory and should meet the credit underwriting norms laid down by the company. A co-applicant can be one or more of:

  • Spouse
  • Blood relative (immediate family members – Father, mother, son)
  • Co-owners of a property must be necessarily a co-applicant in the loan structure

What is NACH?

NACH is the National Automated Clearing House and is a centralised web-based payment solution that helps banks to handle bulk payments.

Does the tenure affect the EMI?

Yes, the tenure you choose has a direct impact on the EMI. The longer the tenure, the lower is the EMI

What is LTV and how much LTV can I avail of?

LTV stands for Loan to Value and is a percentage of the value of the property as determined by the credit norms. Depending on the type of loan you are availing, the LTV will vary. They are subject to the norms of the credit parameters laid down by the company.

How do I get my Statement of Account, List of Documents or Interest Certificate of my loan?

To get your relevant documents kindly visit your nearest Si Creva Capital Services Private Limited branch.

When do I get back my Original Property Papers after the loan is foreclosed?

While our endeavour is to offer as seamless a process as possible once the loan is foreclosed, getting back your documents can take up to 30 days from the closure of the loan. An NOC from Si Creva towards the loan closure is also given to the customer.

At Si Creva, we care deeply about the safety and well-being of our customers. Our collection processes follow RBI guidelines and reflect our values of empathy and courtesy.

These are our 7 rules of Customer Care:

1. We do not contact customers via any private or personal 10-digit mobile number on WhatsApp or SMS.

2. We do not contact customers for payment collection reminders from personal mobile numbers, foreign numbers or Internet Based VOIP calls. Our team always calls you from registered landline numbers.

3. We never ask customers to make payments into personal or private bank accounts. Payments are only collected on our website or the app.

4. All our calls are monitored and recorded. Our agents never use threats or abusive language.

5. We never ask for commission or cutbacks on payments of dues.

6. Our App does not seek permission to access your Contacts List or any other private data.

7. We never call your friends or relatives for repayment of your loan as we do not store your personal information.

In case you have faced any of the above-mentioned situations, do this:

1. Report and Block the number. It could be fraudulent.

2. Write to care@kissht.com / care@paywithring.com OR call our customer care number on 02241434302 / 02068135496.

3. Share with us a screenshot or recording of the message or call.

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