Property Mortage
Purpose | a)Business expansion / professional needs,Working capital needs. b)Improvement/extension of existing property. c)Repayment of high interest bearing existing loans from other banks/FIs. d)Purchase of new shop/office / go down for business expansion. | |
Who can Eligible | People engaged in trade, business, Professionals, self-employed, | |
Loan Amount | 70% of Valuation of Property | |
Margin | 30% of Valuation of Property | |
Repayment Period | Term Loan – 120 Months. Cash credit OD Facility(for working capital)- Renew of the limit new year. | |
Guarantee | Two/Three guarantor possessing property and also Income tax-payer | |
Security | collateral security in Form of mortgage of immovable properties. | |
Legal Opinion Charges(TC) | Upto Rs.5.00lacs Rs.5.00 lacs to Rs.10.00 lacs Rs.10.00 lacs to Rs.25.00 lacs Rs.25.00 lacs to Rs.50.00 lacs Above Rs.50.00 lacs | Rs. 1000/- Rs. 2000/- Rs. 3000/- Rs. 5000/- Rs. 7500/- |
Valuation Charges | Upto Rs.10.00 lacs Rs.10.00 lacs to Rs.25.00 lacs Rs.25.00 lacs to Rs.50.00 lacs Above Rs.50.00 lacs | Rs. 1000/- Rs. 2000/- Rs. 3000/- Rs. 5000/- |
Share Linking | 2.5% of loan amount | |
Agreement Charges/Stamp Duty | 0.35% of Sanction Limit & Registration & others fees applicable as per Govt. rules. | |