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Kerala - Apply for Money Lender (Loner) Licence

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Procedure[edit]

Those who wanted to start a money lending business should have to apply for a money lender licence to carry on business of money lending.
Apply In-Person

  1. To apply, the eligible person has to apply with required documents to the commissioner of commercial tax designated to process the request.
  2. Link for contact details link
  3. Please go to the respective office. Consult with the respective authority about the updated information to acquire the license.
  4. Get the form for this license or write on a plain paper as advised.
  5. Submit the completed application along with required documents to the receiving authority.
  6. Authorities after checking the application and documents will make entries at the respective register and provide applicant a record number for reference.
  7. Keep it safe for future reference.
  8. This application will be processed further.
  9. If the applicant’s details are matching the norms and the place for which license sought is also approved, applicant gets intimation for the rest of the process.
  10. Please follow the department’s guidelines in getting the sanction and obtain license.


Note:
  • All applicant has to follow the respective state money lenders act rules and regulations.
  • The Interest rate and tenure for the loan should be fixed as per state government norms.
  • Link for Act :link and the update on the act is available in the following link link


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Required Documents[edit]

  • Application form.
  • Identity proof.
  • Ration Card
  • Bank account details
  • Address of the shop or business (proof of address)
  • Fees paid details (Challan and details)
  • Education details
  • Residential Proof: Residential Certificate issued by Local administration office/ Aadhaar card / Passport / Driving License / Ration Card / Govt. Id card / Defence ID Card / PAN Card.
  • Age proof (birth certificate / school certificate)
  • Applicant passport size photograph.
  • Aadhaar card
  • Affix stamp as advised by authorities if required.
Note:
  • All original and copy of original with self attestation as advised by respective authorities to be submitted as per requirement.
  • Apart from the above documents authorities may ask to submit additional information or documents. Please provide them for processing.


Office Locations & Contacts[edit]

Commissionorate
9th Floor, Tax Tower, Killppalam,
Karamana P.O, Thiruvananthapuram,
Ph: 0471-2785202, 2785203
E-mail : cct.ctd@kerala.gov.in
Contact link : link

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Eligibility[edit]

  • Age : 18 years and above (If minors are applying then apply through a guardian)
  • Citizen of India
  • Applicant should not knowingly participated in or connived at any fraud or dishonesty in the conduct of or in connexion with the business of money-lending
  • The applicant should not have got his/her licence cancelled within last six months or the prescribed period before the date of current application.

Fees[edit]

  • As authorities quote.
  • Charges for affixing stamp may be required.


Validity[edit]

  • Valid for 1 year or as per the period mentioned
  • Usually the license needs to be renewed annually.

Documents to Use[edit]

Please attach documents that can be used by people. e.g. links
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Sample Documents[edit]

FORM OF APPLICATION FOR THE GRANT OF MONEY LENDERS LICENCE:

  1. Name of the applicant :
  2. Address in full(any subsequent change should be notified) :
  3. Father’s Name :
  4. If the applicant is a native of Indian State :
    (i) Full address in such Indian State;and
    (ii) Details of immovable properties owned
    insuch states by the applicant, with
    their estimated value.
  5. Address of the shop or place of business in  :
    respect of which the licence is applied for
    (Any subsequent change should be notified)
  6. If the applicant has more than one shop or  :
    place of business, the address for each such
    shop or place of business
  7. Has the applicant applied for a separate  :
    licence in respect of each shop or place of
    business mentioned against ithem 6 and if
    so with what result?
  8. Date of commencement of business  :
  9. Financial year for which the licence is applied for  :
  10. The amount of money proposed to be lent during  :
    the financial year.
  11. Has the applicant paid the prescribed fee  :
    for the licence (The chalan receipt or other
    evidence of payment of fee should be enclosed)
  12. Whether the declaration in Form AAA has  :
    been appended.
Signature of the applicant.

I declare that the particulars stated above are correct to the best of my knowledge and belief.

Signature of applicant.

Processing Time[edit]

7 to 15 days

Related Videos[edit]

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 


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Instructions[edit]

Please provide instructions on obtaining the certificate/documents.
e.g. The state office holds birth records since january 1908.



Required Information[edit]

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or County of Birth.
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Need for the Document[edit]

  • Any individual or a firm indulges in money lending business has to follow the interest rate advised, tenure for the loan etc.
  • This licensing process gives the applicant all vital information to be followed.


Information which might help[edit]

  • Avoid using fabricated documents to avail this license as it is punishable.
  • If the rules are not followed, punishment is inevitable.

Other uses of the Document/Certificate[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links[edit]

Place some external links which might help.
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Others[edit]

More information which might help people.