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HPSM (Commercial)

In the Hire Purchase (Participatory Ownership) mode, Meridian Finance and the client jointly purchase an asset, sharing ownership and benefits proportionally. The client’s portion is leased with a fixed rent, and ownership is gradually transferred through installments.

10.0 Lac – 5.0 Crore
Investment Range
1 – 20 years
Tenure
Shariah Approved
Profit Rate

Overview

  • Investment range: 10.0 Lac to 5.0 Crore
  • Tenure options: 1 to 4 years for capital assets, 3 to 20 years for real estate
  • Monthly profit rate: Determined with Shariah Supervisory Committee approval
  • Early/partial settlement: Allowed with no additional fees or charges

  • Payment: Directly to vendor/supplier
  • EMI: Fixed over the tenor
  • No compound interest calculations
  • No additional charges for partial settlement

  • Photocopy of NID/Smart cards
  • Passport size lab print photographs
  • Relevant Incorporation, License, Permission Documents
  • Latest E-TIN certificate or tax-payment slip
  • Latest utility bill Copy
  • Bank Statements of business accounts
  • Last three years financial statements
  • Price/Value quotation of Vehicle, Machinery etc.
  • Income support documents for individual salaried, landlord, professionals etc.