Who We Are
Vendor Finance Overview
Vendor finance is lending provided by a company to a buyer interested in the vendor's products or property. It is a great way to start owning and paying off your home even if you have bad credit history or don’t have a standard deposit.
Benefits & Features
Part prepayment facility.
Subject to you clearing your first EMI, you are eligible to prepay your loan at any time without incurring any prepayment charges.
Nil foreclosure charges
Now you can choose to foreclose your loan anytime during your loan tenor without paying any foreclosure charges.
Online account access
Get all information about your loan like repayment track, interest certificate, payment schedule etc. through our digital customer portal. Just log in with your loan account number and access whatever information you want about your loan.
Secure and state of the art document storage facility
We understand how important your documents are for you. Through our strategic partnership with one of the leading storage facilities in India, covering over 5 lakh sq ft of storage space and state of the art security systems, we ensure your documents are safe with us. After the completion of your loan term, you can retrieve the documents any time.
Transparency and flexibility
Within a week of disbursement of your loan, you receive a Welcome letter that covers all the necessary details of your loan from repayment schedule, insurance details, applicable charges and benefits. This will cover all the information you may need so that the only surprises you have are pleasant ones.
Best in class insurance schemes: Group Suraksha from Bajaj Allianz
- No medical tests for Life Insurance up to Rs. 100 lakhs for age up to 50 years
- Level term plan that covers you for the complete amount despite reduction/ prepayment of loan amount
- Coverage for the complete tenor of the loan
Eligibility & Documents
Eligibility
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The eligibility criteria for Online Seller Finance is simple, and doesn’t require you to pledge any assets in order to access credit.
Your business must have a minimum operational history of 1 year
Your partnership minimum vintage should be more than 6 months
Minimum quarterly sales of ₹75,000Before your application procedure, keep digital copies of the following documents handy to ensure a quick, smooth application process:
Bank statements of the last six months
KYC documents of both you as well as the organisation
Ready to Apply
Apply NowHow to Apply
Step 1
Click on Apply to access our online form. Complete the details and submit the application.
Step 2
A Nitstone representative will review your application and contact you to discuss the next steps.
Step 3
Provide the required documents for verification.
Step 4
Loan processing will proceed according to standard verification and approval procedures. T&C*
Fees & Charges
| Types of fees | Charges applicable |
|---|---|
| Interest Rate | 16 % to 25 % |
| EMI Bounce Charges | INR 100+ GST for every bounce |
| Penalty charges | INR 500+ GST |
| Processing Fee | 1 % to 2 % on Loan Amount |
| Part Prepayment | 1 % on the part payment amount |
| Foreclosure Charge | 1 % on principal outstanding |
| Convinience Charges | Rs.2000 |
- Foreclosure charges apply on the current principal outstanding.
- Part payment must exceed 1 EMI.