Glossary
Surrogate Income Programme
What it means
Many businesses report modest taxable profit while running strong cash flows. Surrogate programmes use average bank balance, credit turnover, GST sales or rental income to estimate income, enabling loans, especially loans against property, that ITR-based assessment would not support.
Rates are usually 1% to 2% higher than standard programmes, and availability varies by lender and city. Choosing the right programme is often the difference between approval and rejection for self-employed applicants.
Where it applies
Loan Against Property
Loans against residential, commercial or industrial property from ₹10 lakh to ₹15 crore at rates from about 8.75% p.a., with tenures up to 15 to 20 years and funding up to 70% of market value.
- Rate from
- 8.75% p.a.
- Up to
- ₹15 Cr
Business Loan
Unsecured business loans from ₹2 lakh to ₹1 crore for proprietors, partnerships and companies, at rates from about 14% p.a., with tenures up to 5 years and minimal collateral requirements.
- Rate from
- 14.00% p.a.
- Up to
- ₹1 Cr
More terms
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