LOAN AGAINST LAND AND BUILDING (PROPERTY LOAN)
Eligibility Criteria :
- For the purpose of Business.
- Loan maximum upto 60 % Valuation of the property by the Bank’s approved valuer .
- Property offered for mortgage requires Titles Clearance certificate from Bank’s approved advocate ( This requires before disbursement of loan ).
- Loan amount will depend upon the repaying capacity and nature of business of the applicant .
- Primary Security :Mortgage of the Property offered.Rate of Interest : 13.50 % *.
Share Money Contribution : 2.5 % of the Loan Sanctioned.
Tenure For Repayment : Maximum 120 Months.
How to apply :
- An application in Bank’s Prescribed Form duly filled up having been affixed with the Photographs of the applicant/s and guarantors along with their signatures to be supported by the papers / documents detailed as under.
For the Applicant/s.
- Last three years income tax return for Income Proof.
- Copy of I.T. Pan card of the applicant/s.
- Residential Address Proof of the applicant/s.
- Original Title deeds of the Property to be mortgaged at the time of mortgage.
- Bank A/c Statement for the last six months.
- Statement of A/c for Loan / Advance facility availed from other Bank / F.I.
- Two (2) cheques with signed
- The Janta Sharafi Mandli – No due certificate.
For the Guarantor/s.
- 1- Photograph of the 2 (Two) guarantors
- Two (2) cheques with signed
- Address proof – 1 copy and Photo proof – 1 copy.
- One Guarantor Two (2) cheques with signed.
Note :
- Title Search Report and Valuation Report from the Advocate and Valuer empaneled by the Bank is required to be produced on or before disbursement of the loan and fees for the same to be paid by the borrower.
- Stamp duty attracted for the mortgage deed and other Loan Agreements to be paid by the borrower at the prevailing rates.
- Other supportive papers/documents/proofs to be produced, if further needed and asked by the Bank’s Advocate / Valuer / Bank.