Aasra Cooperative Credit Society Ltd

Movable Asset Finance (MAF)

Feature	Details & Specifications
Product Purpose	Procurement of movable household, business, vocational, and construction-related assets.
Finance Limit	Sanctioned between ₹30,000 and ₹2,50,000.
Tenure	24 months.
Pricing Method	25% fixed markup (flat and non-compounding).
Early Closure Reward	10% discount on markup for full repayment within 12 months (Effective markup = 15%).
Disbursement	Vendor-only payment; no cash is provided to the member.
Repayment Mode	Monthly installments following a 30-day moratorium from asset delivery.
Verification	Mandatory physical verification with photos and serial numbers upon delivery.

MAF facilitates the acquisition of six major categories of movable goods:

Consumer Assets: Appliances like refrigerators, washing machines, ACs, and business-grade smartphones.
Business Equipment: Freezers, chillers, packaging machines, carpentry tools, and bakery equipment.
Used Mobility Vehicles: Motorcycles, scooters, and electric bikes (requires valid RC and insurance).
Construction Materials: Cement, sand, bricks, TMT steel rods, and electrical/plumbing fixtures.
Professional/Vocational Kits: Electrician toolkits, tailoring machines, salon kits, and nursing essential kits.
Marriage-Related Assets: Furniture, home setup materials, and kitchen sets.

Productive Utilization: Finance is strictly used for acquiring specified movable assets to prevent fund diversion.
Ownership Control: Aasra buys the asset first (inventory purchase) and then sells it to the member.
Guarantor Requirement: Requires two guarantors to enhance credit discipline and accountability.
Transfer Restriction: No resale or transfer of financed vehicles is permitted until the facility is fully closed.
Eligibility: Members must have a minimum of 6 months of stable income or business cash flow and no past defaults.
Documentary Proof: Members must provide a valid vendor quotation, product specification sheet, and warranty details.