Questions, answered.
Plainly, and on the record.
Rates and costs
What interest rate will I pay?
Every rate published on this site is an indicative starting rate. The rate on your facility is set on assessment of the security offered, the tenure, your profile and your repayment record.
- Gold loan: from 12.00% per annum, indicative
- Loan against property: from 11.50% per annum, indicative
- Vehicle loan: from 13.50% per annum, indicative
- Business finance: from 14.00% per annum, indicative
- Micro-finance: from 16.00% per annum, indicative
The rate that applies to you is stated in your sanction letter, and the reasoning is explained to you before you sign.
What does "indicative" actually mean?
It means the figure is a starting point, not a quotation. No rate is fixed before a file has been read. Each rate is indicative and the final rate is set on assessment, on the basis published in our Interest Rate Policy: the security, the tenure, the borrower's profile and repayment record, and the cost of funds.
Nothing on this page is an offer of credit or an assurance that a facility will be sanctioned.
Why is no rate published for some facilities?
Real estate, construction, film, startup, acquisition and restructuring facilities carry no indicative starting rate, and we do not publish one. These are structured transactions: the project, the security, the drawdown schedule and the exit all move the number, so a headline rate would mislead you.
Angel investing is an equity position rather than a loan, so there is no interest rate to quote at all. Pricing on all of these is set on assessment, after the file has been read.
What fees and charges apply?
We do not publish a fee schedule on this page, and we will not quote a figure we cannot stand behind. Any charge that applies to your facility is stated in the sanction letter before you sign it, and the basis on which charges are levied is set out in the published Interest Rate Policy and Fair Practices Code.
Ask the office for the exact charges on the product you are considering. They will tell you before you commit to anything.
Can I repay early?
Yes. On gold facilities there is no prepayment charge at any point in the tenure.
On other products, whether a foreclosure charge applies, and how much, is set out in the sanction letter for your specific facility. The basis on which any such charge is levied is published in our Interest Rate Policy and Fair Practices Code.
Ask the office for the exact terms on your facility before you foreclose.
What happens if I miss an instalment?
Talk to the office early, before the instalment is missed, if you can see it coming. The earlier a problem is raised, the more room there is to do something about it.
Heeraa runs a debt restructuring book for exactly this: rescheduling an obligation against a workable repayment path rather than letting it run into recovery. Terms are structured case by case, on assessment.
Any charge for a late or dishonoured instalment is set out in your sanction letter and in the published Interest Rate Policy. Recovery conduct is governed by our Fair Practices Code.
How is an EMI worked out?
An EMI is the equal monthly instalment that repays a loan over its tenure. It is calculated on a reducing balance: each instalment pays that month's interest first and the remainder goes to principal, so the interest portion falls month by month.
The calculator on this site lets you set the amount, the rate and the tenure yourself. Every figure it produces is indicative, computed on the indicative starting rate; your actual instalment follows the rate set on assessment.
Eligibility and documents
Am I eligible?
Eligibility is assessed on the file, not against a checklist, so no page can tell you yes or no. In practice the office looks at:
- Your identity and address: standard KYC
- The security you can offer, which differs by product: ornaments, a vehicle, a property, receivables or a structured arrangement
- Your ability to repay: income, business cash flow or group standing
- Your existing obligations and your repayment record
You also need to be within our operating states. No single item decides a file on its own. Bring the papers to the counter and someone who can actually decide will look at them.
What documents will I need?
Typically the office asks for:
- Identity and address: Aadhaar and PAN, plus an address proof
- Income proof: salary slips, bank statements, or business returns and accounts, as applicable
- Property papers: where the facility is secured on property, the title deed, encumbrance certificate and tax receipts
- Vehicle papers: registration certificate, insurance and invoice, for a vehicle facility
- Photographs and the completed application form
For a gold loan the ornaments themselves, with your KYC, are usually enough. The valuation is done at the counter in front of you. This is a typical list, not a fixed one; the exact set depends on the product and on your file. Our KYC Policy is published in full.
Does a low credit score rule me out?
A bureau score is one input among several, not the decision. In this house a score on its own has never been enough to decline a file that otherwise makes sense. The security, the cash flow behind the repayment, and the explanation for what happened all carry weight.
That is not an assurance of approval. Every file is assessed on its merits and any facility remains subject to that assessment.
If there is a past default or a thin file, say so at the counter and explain it. A clear account of what happened is worth far more than hoping it will not come up.
What security do you accept?
Security is matched to the product:
- Gold loan: pledge of ornaments, held in insured custody
- Vehicle loan: hypothecation of the vehicle
- Loan against property: mortgage over the property
- Business finance: mixed security, structured to the file
- Real estate and construction finance: security over the project
- Micro-finance: group-based lending
- Film finance: receivables
- Startup, acquisition and restructuring: structured case by case
What is acceptable in your particular case is decided on assessment.
Which states do you lend in?
Heeraa lends in three states: Tamil Nadu, Kerala and Karnataka. All of it is transacted from the registered office at Heeraa Mansion, Sowcarpet, Chennai.
If your security or your business sits outside those four states, speak to the office before you travel.
How it works
How do I apply?
Three routes, in order of speed:
- Walk in. Heeraa Mansion on General Muthiah Mudali Street, Sowcarpet, Chennai. For a gold loan this is usually the whole process.
- Send an enquiry from the contact page. No credit check and no obligation; someone who can actually decide calls you back.
- WhatsApp or call the office and start it there.
Bring your KYC and whatever papers relate to the security you are offering.
How long does a decision take?
Indicative turnaround, once the papers are complete:
- Gold loan: same day, across the counter
- Vehicle loan: 2 to 3 days
- Micro-finance: 3 to 5 days
- Business finance: 5 to 7 days
- Loan against property: 7 to 10 days
- Real estate, construction, film, startup, acquisition and restructuring facilities: on assessment; the timeline follows the transaction
These are indicative and depend on how complete your documents are. Nothing here is an assurance of approval or of timing.
How much can I borrow?
Indicative ticket sizes by product:
- Gold loan: ₹25,000 to ₹25,00,000
- Micro-finance: ₹25,000 to ₹5,00,000
- Vehicle loan: ₹1,00,000 to ₹50,00,000
- Business finance: ₹2,00,000 to ₹2,00,00,000
- Loan against property: ₹5,00,000 to ₹5,00,00,000
- Real estate, construction, film, startup, acquisition and restructuring: on assessment
What you can actually borrow within those ranges depends on the security and on the assessment of your file.
How long can I borrow for?
Maximum tenures by product:
- Loan against property: up to 180 months
- Real estate finance: up to 120 months
- Construction finance: up to 96 months
- Vehicle loan and acquisition finance: up to 84 months
- Business finance and startup funding: up to 60 months
- Gold loan and film finance: up to 36 months
- Micro-finance: up to 24 months
The tenure actually offered is set on assessment.
Where is the office, and when is it open?
The registered office, and the counter, is Heeraa Mansion on General Muthiah Mudali Street, Sowcarpet, Chennai.
It is open Monday to Saturday, 10am to 6pm, and closed on Sunday. For a gold loan, coming in earlier in the day gives the best chance of same-day disbursal across the counter.
Can I take back some of my ornaments before the loan closes?
Yes. Part-release is permitted on gold facilities once the corresponding principal has been repaid, in proportion to what you have repaid.
Your ornaments are held in insured custody and you hold an itemised receipt showing gross and net weight, so what is released is checked against that receipt at the counter. Bring the receipt and your KYC to Heeraa Mansion.
What we are, and are not
Do you accept deposits?
No. Heeraa Financial Services Limited neither accepts public deposits nor is authorised to accept them.
It is a Base Layer NBFC classified as an Investment and Credit Company, a non-deposit-taking category. It cannot take a fixed deposit, a recurring deposit, a savings balance or any other form of public deposit from you, and it will never ask you for one.
If anyone offers you a Heeraa deposit scheme, it is not us. Please tell the office.
Are you a bank?
No. Heeraa is a non-banking financial company: a lender, not a bank. It holds no banking licence, operates no accounts for the public, and takes no deposits.
What it does is lend, from its own capital, against security it can assess.
Are you regulated by the RBI?
Yes. Heeraa Financial Services Limited is a Base Layer NBFC classified as an Investment and Credit Company, supervised by the Reserve Bank of India's Chennai regional office. It is a non-deposit-taking NBFC.
Its CIN is U71309TN1995PLC031035 and it was incorporated on 24 April 1995. The Certificate of Registration number is not published on this site yet; we will not print a number we cannot verify. Ask the office and they will give it to you directly.
How old is the company, and what was it called before?
The company was incorporated on 24 April 1995 and has traded from General Muthiah Mudali Street in Sowcarpet ever since. It was formerly named Hira Financial Services Limited, and the register still carries that former name against the same CIN.
Authorised and paid-up capital is ₹5,00,00,000.
Who runs the company?
The board is Praveen Chand Nahar (Whole-time Director), Nidhi Nahar (Director) and Mehul Mehta (Director).
Heeraa was founded by Sanghvi H. Goutam Chand Nahar, Founder and Visionary. He has passed away, and the house carries on in the memory of him.
What are the associate companies?
Heeraa Financial Services Limited is the regulated lending entity, and every facility described on this site is extended by it. Three associate enterprises sit alongside it:
- Goutamchand Praveenchand: the family trading house, and the origin of the group's presence in the Sowcarpet market
- Praveen Investments: the group's investment vehicle
- Ameya Heights LLP: the group's real estate arm
Where a transaction is larger than the NBFC will hold alone, the group participates.
What happens to the information I give you?
What is collected, why, and how long it is kept is set out in our Privacy Policy, published in full on this site.
Two things worth saying plainly. The assistant on this site runs entirely in your browser. Nothing you type into it is transmitted to us or stored anywhere. And the enquiry form asks for your explicit consent before anyone contacts you about your enquiry.
Complaints and conduct
How do I raise a complaint?
The Grievance Redressal procedure is published in full on this site. It names the officer responsible and the timelines that apply.
The fastest route is to raise the matter with the office directly, by email, on WhatsApp, or at the counter, and it is escalated from there under that published procedure.
What is the Fair Practices Code?
It is the code that governs how a facility is offered and communicated to you: how terms are disclosed, how a rate is explained to you before you sign, how recovery is conducted, and how a grievance is handled. It is published in full on this site.
If you believe the Code has not been followed in your case, raise it through the Grievance Redressal procedure.
In which language are the policies published?
This site and its assistant are available in six languages: English, Tamil, Hindi, Malayalam, Telugu and Kannada.
Regulatory and policy documents are published in English, which is the version of record.
Answers here are general. Terms follow your sanction letter.
Or simply call the office.
The fastest route is still walking into Heeraa Mansion. If that is not convenient, send an enquiry and someone who can actually decide will call you back.
