| 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.
|
| Share Linkage |
- Borrower must have Bank's share linkage @ 1% of the loan sanction amount.
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| Repayment period |
|
| Rate of Interest |
Up to 25 Lakh - 8.75% p. a. | >25 Lakh to 140 Lakh - 9.00% p. a.
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| 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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