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Immovable Property Loan

PURPOSE

A loan in which property or real estate is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full. Basically, the borrower has possession of the property or the home, but the lender is the one who owns it until it is completely paid off.

REPAYMENT

Monthly

ELIGIBILITY

Individual/ Institutions customers having satisfactory dealings with our bank

QUANTUM

As per the board decision

PERIOD

Up to 7 years; Monthly equal installments

RATE OF INTEREST

(click here for inetrest rate)

DOCUMENTS AND FORMALITIES TO BE SUBITTED

  • Stipulated Loan Application with 2 passport size photos of applicant / guarantor
  • Sale Deed/ Mother Deed
  • Associated Membership application
  • Associated membership of Rs. 100/- challan
  • CHALLAN- Legal fee of Rs. 500/-
  • Vamshavruksha/ G TREE
  • Aadhar Card
  • Form No 3, EC (14YEARS EC from SUBREGISTER OFFICE)
  • RCC Building plan which is registered
  • RCC Building registration copy
  • IT returns of 3 years
  • Bank Valuation Report

SECURITY: FINANCIAL AGAINST

Property acceptable to the Bank having clear marketable title.
The land offered as security should be converted land/building only