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.
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.
Our onward lending EMI calculator helps you plan your monthly budget and expenditure, as it gives you a realistic picture of your monthly obligations. This is a powerful tool that helps you make sound decisions regarding your onward lending loan amount and tenure.
The mandatory set of documents includes identity proof, address proof, signature verification, and photographs.
Past 3 years’ ITR / GST returns are to be submitted.
Audited business financial statements for the past 3 years and projected statements for the next 3 years
A brief description of your business and certificate of registration
Past 12 months’ bank statements (CC/OD/CA) as well as Repayment Track Record (RTR) details of existing loans.
Additional business-specific details as requested by the RAR Fincare representative
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.
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.
Get ample amount sanctioned meeting your requirements
Streamlined loan journey, and we’re available to help you throughout
Flexible repayment options (EMI and bullet) and longer tenure
Loans are available in unsecured formats without the requirement of security collateral
Enter your personal, business & bank details to get a fair loan offer
Our team assists you throughout to complete the application
Accept loan offer and execute loan documents
Choose from flexible repayment options and start receiving funds
You can visit the nearby RAR Fincare branch office to apply for the loan. Or else, you may simply fill out and submit the online form provided on this website, and our representative will get in touch with you to help you with the loan application.
No, customers across India can apply and avail of onward lending products.
We understand that Financial Institutions’ credit requirements are comparatively larger, and they would like to receive funds at the earliest possible. Keeping this in mind, RAR Fincare has designed and implemented a robust technology system, focusing solely on financial institutions, through which funds up to INR 10 Cr get disbursed within 4 days of submitting the completed loan application.
Additionally, we do not enforce stringent security requirements for eligible customers and offer loans without any collateral.
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.
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.
Once the application is duly submitted, it’ll take approximately 4 business days to disburse funds to your bank account.
We allow tenure up to 7 years.
The minimum corporate CIBIL score required will vary from case to case.
If repayment has not defaulted at any point, then your EMI amount will remain the same throughout the tenure of the loan.