Property Mortagage Loan
Purpose:
- To cover expenditure towards Medical / Education / Marriage / Travel /Legal etc
- Purchase / Construction of residence
- For Working Capital requirements
- Renovation / Repair
- Business Purpose
- Any other resonable purpose
1. Salaried employees/Professionals/ Self-employed business
2. Loans can be applied by Individuals either solely or jointly
3. Total deduction including deductions of LAP (installment & interest) to be meet from firm/company’s net cash accruals
4. Member/Share Holder only
Security
Mortgage of the property. The property to be mortgaged should be in the name of the applicant or his/her spouse or close relative as per Section 6 of the Companies Act 1956 or persons representing relationship such as Firm / Proprietor, Partnership / Partners, Company / Directors. The person / entity in whose name the property to be mortgaged to either co-borrower or guarantor.
Surety required as per bank policy
Documents Required
1. PROOF OF IDENTTIY-
Aadhar Card / Driving license / Passport / PAN card/ Election card/Job card issued by Govt. agencies
2. PROOF OF RESIDENCE-
Aadhar Card / Driving license / Passport/ Election card / Job card issued by Govt. agencies
3. PROOF OF INCOME - SALARIED INDIVIDUALS
Form 16A, Latest Salary Slip for 3 months, and Salary bank account statement of last 1 year
4. PROOF OF INCOME - BUSINESS
Last 3 years Balance Sheets/Income Tax Returns and Salary/Business bank account statement of last 1 year
5. Title search and Valuation Report of Property to be purchased
6. Security/Mortgage documents as applicable
Note: Service Charges displayed in service charge session.
