Who is eligible

• Salaried person 
  ( Should  have permanent employment for last 3 years and at least 1 year in present employment )

• Professional 
  ( Should have been in the profession for the last 3 years ) 
  
  
• Businessman 
  ( Should be in business for the last 3 years and generate adequate and consistent income and good net worth )

Purpose

• For improvement in  Business
  
  
• Renovation of Flat
  
  
• For Investment in security or commercial property
  
  
• Educational, Marriage, and Medical Expenses 

Loan amount eligible

• Salaried person
  (35 times gross monthly salary )
  
  
• Others
  ( 4 times gross taxable income )

Subject to maximum of Rs 10,00,000.00  any proposal
above 10,00,000.00  with approval of the Board of Directors

 

Guarantors

• Minimum 2 persons acceptable to the Bank.

Margin

• 25 %  of the Agreement Value  
  
  
• 30%   of the Market Value of the property to be mortgaged  which ever is lower
  
  (Note) in case the Agreement Value is higher than Market Value,  the Market Value  will be considered for the purpose of eligibility . The Market Value will be determined by the Bank’s valuer’s

Rate of Interest

Special Features

• Wife /husband/parents/Brother/ sister can be co applicants income of the co applicant will be considered for assessing repayment capacity
  
  
• Interest calculated on daily reducing balance.
  
  
• No prepayment/commitment  charge levied unless the Liability is taken over by another financial institution.  

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