Mortgage Loan

• MORTGAGE LOANS

This scheme provides loan/cash credit facility against mortgage of property at low rate of interest. The scheme is for people engaged in trade, commerce & business and also professionals & self employed, Prop. Firm, partnership firm, companies, NRI’s and individuals with high net worth including salaried people and agriculturists. The product provides an opportunity to customers to borrow against a fixed asset (mortgage of property) at a short notice without much paper work/attendant hassles. The loan amount can be used for any purpose but shall not be used for purposes prohibited by law. The property should be in the name of Applicant or Co-applicant of family member.

DETAILS OF LOAN

• Eligibility :” A “class and “C” class membership
• Maximum Amount : Rs.20000000/- (Two crore)
• Repayment period : 60 months.
• Processing charge : 0.7 % of Loan Amount.
• Share Amount : 2.5 % of the loan amount
• Other charges :Legal charges

* 2 % Interest Rebate eligible only Regular repayment

 

• MORTGAGE LOANS LT(Long Term)

• Eligibility : ” A “class and “C” class membership
• Maximum Amount : Rs.20000000/- (Two crore)
• Repayment period : 120 months.
• Processing charge : 0.6 % of Loan Amount maximum up to Rs. 50000.
• Share Amount : 2.5 % of the loan amount
• Other charges :Legal charges

* 2 % Interest Rebate eligible only Regular repayment

MORTGAGE LOANS (CRE)

A loan given by the bank to construct a new Soaping Complex , Consumer Building and Flat complex against immovable property. The maximum rate of advance shall be limited to 40 % of the value of the property including the value of of the proposed construction as the case may be.

• Eligibility :” A “class and “C” class membership
• Maximum Amount : Rs.20000000/- (Two crore)
• Repayment period : 120 months.
• Processing charge : 0.6 % of Loan Amount maximum up to Rs.50000.
• Share Amount : 2.5 % of the loan amount
• Other charges :Legal charges

* 2 % Interest Rebate eligible only Regular repayment