ELIGIBILITY

  • Salaried persons, Professionals, Self Employed and others who are gainfully employed for the last two years

PURPOSE

  • For all legitimate purposes except for speculation

AMOUNT

  • Maximum – Rs 5.00 mn 36 time of Gross Monthly Income for Salaried and 3 times of Average Annual Income of Last Two years for businessman Loan shall be lower of the maximum ceiling and calculation based on income.

MARGIN

  • 50% of value of the property offered as security. (Security should be 200% of the credit facility)

REPAYMENT

  • In 120 monthly installments for Loan or EMIs And 10% annual reduction for OD facility

RATE OF INTEREST

  • 2.00% over PLR

SECURITY

  • 1st Rank fixed charge on Flat/House Purchase constructed out of Bank Finance

PROCESSING FEES

  • 1% of Loan amount Minimum Rs.1,000/-Maximum – Rs. 25,000/-.

DOCUMENTS TO BE SUBMITTED ALONG WITH APPLICATION

  • Copy of National ID Card
  • Copy of Driving License for vehicle for which loan is applied.
  • Salary Slips for last 3 months for salaried/ MRA return for businessman

SANCTIONING AUTHORITY

Time Frame for taking credit decision / disposal of proposal from the date of submission of data / information is within 10 working days for all credit facilities upto Rs. 300,000.00.