Eligibility of borrower |
- Must complied with the norms of KYC and having current / saving account holder of the Bank.
- Borrower must be a member of the Bank.
- Have good reputation and credit worthiness.
- Having sufficient score in CIC's reports.
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Purpose of Loan |
- Purchase/Construction of residential building for his own use.
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Quantum of finance |
- Up to 85% of panel valuer's valuation report.
- Up to 85% of notarized agreement of sale + agreement of construction work or additional construction work + applicable stamp duty + registrarion fee + Govt. Taxes + life insurance premium will be considerable.
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Share Linkage |
- Borrower must have Bank's share linkage @ 1% of the loan sanction amount.
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Repayment period |
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Rate of Interest |
7.25% p. a. |
Security |
Prime:
- Simple mortgage property purchase/constructed out of the Bank finance
Collateral:
- Third party guarantee of two personal guarantors having good Credit worthiness and financially sound and member of the Bank.
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