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Mortgage Loan

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A mortgage loan is sanctioned against an immovable asset like a house or a commercial property.The property itself serves as collateral for the loan.

Tenure is upto 10 years

Tenure for this loan is limited to 10 years

Processing charges 1 %

We charge procesing fees of 1 %.

ROI 15%

It has ROI of 15%.

Aspects

  • Fast and hassle-free loan processing for quick financial assistance.
  • High financing facility available based on property valuation.
  • Loan amount available up to 50% to 60% of the property value.
  • Flexible repayment tenure available for up to 10 years.
  • Pre-payment of loan attracts a penalty charge of 2%.
  • No margin amount is required for loan approval.

ROI & Handling Charges

  • Loan facility available at an interest rate of 15%.
  • Handling charges are applicable on a half-yearly and yearly basis.
  • A processing fee of 1 % is charged on the sanctioned loan amount.

Eligibility

  • Salaried individuals earning a regular monthly income of Rs. 10,000 or more are eligible.
  • Business owners can apply for the loan facility.
  • Self-employed applicants with stable income are eligible to apply.
  • Professionals with a regular source of income can avail the loan facility.
  • Applicants between 18 and 55 years of age are eligible for the loan.

Documents Required & Shared Holdings

  • New customers and guarantors are required to open a Savings or Current Account with the bank.
  • Duly filled application form along with:
    • Income Proof of Applicant & Guarantors
    • Residential Proof of Applicant & Guarantors
    • PAN Card of Applicant & Guarantors
    • KYC Documents of Applicant & Guarantors
  • Income Tax Returns (ITR) for the last 3 years
  • Property-related documents
  • Employer certificate / Salary slips of last 3 months with income verification
  • Two acceptable guarantors are required for loan approval.
  • Regular Membership fees is Rs. 10 & Share amount @ 10% of loan amount.
  • Guarantors : as per loan amount..