NPA Loan Takeover
We offer an NPA account takeover facility, enabling borrowers to transfer loan accounts that are classified as NPA (Non-Performing Asset) to the new financing institution. This process includes the transfer of the outstanding loan liability along with all underlying collateral and securities.
A new lender evaluates the borrower’s financial profile, asset value & repayment sources. If everything is found suitable as per the policy, the lender approves the takeover and pays directly to the previous bank.
This will be suitable for the stressed borrowers as the new lender offers a new repayment plan with an option of a moratorium period. So, the borrower can pay the new loan in monthly emi’s, suited to their financial eligibility.
This facility can be availed by borrowers struggling with distressed loans & facing legal action by banks. It will provide immediate relief from the ongoing legal disputes & reducing huge financial burden of paying the entire loan.
Benefits of Transferring an NPA Loan
- Opportunity to restructure existing debt
- Improved repayment terms (subject to lender approval)
- Availability of working capital for business expansion
- Better cash flow management
- Reduced financial stress
- Credit revival support
- Possibility of standard banking loans in future
Key features of NPA Loan Takeover Facility
- Loans starting from Rs.1 Crore
- Available in PAN India
- Easy repayment options like monthly emi’s
- A three-month moratorium is offered
- Option of pre-payment
- Auto-update of CIBIL
- Change of NPA status to normal
- No need of additional collateral
- Also available for paying OTS (One-Time Settlement)
Who Can Apply?
- MSMEs
- Proprietorship firms
- Partnership firms
- Private Limited Companies
- Manufacturers&Traders
- Service providers with turnover of more than 10 Crores
- Businesses having a low CMR rating
- Hotels & Restaurants
- Educational Institutions