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  • Easy to avail loan against mortgage of residential house/ flat / commercial property.
  • Competitive interest rate.
  • Flexible loan repayment tenure.
  • Minimum documentation.
  • No Prepayment penalty.
  • Individual Customers
    • who have satisfactory dealings with our Bank.
    • Minimum age limit of the applicant: 18 years.
    • May apply singly or jointly with other eligible individuals.
    • New customers should be well introduced to the Bank with satisfactory OPL / market report on them.
  • NRI customers
    • NRI customers can avail the loan with their resident close relatives as co-borrowers.
  • Employees of Bank
    • Employees of Banks (PSU/ Private/ Foreign/ Co-Op banks) are also eligible.
  • Salaried Individuals
    • The applicant has to produce documentary evidence regarding the Salary slips.
    • The applicant should be in the employment for a minimum period of one year and confirmed in the service.
    • (Break in service, can be allowed up to maximum period of 6 months in case of switchover from one company to another).

  • Other than Salaried Individuals
    • The applicant has to produce documentary evidence regarding the annual income.
    • The applicant/s should have been in the business /profession for the last minimum period of 3 years.
    • The business account shall be exclusively maintained with our Bank and the entire business transactions / turnover shall be routed through our Bank.
  • No loans under the scheme to Companies/Firms/Business Establishments /Trusts / HUFs.
  • Loan can be availed by individuals for non-business purposes, any unforeseen expenses, urgent personal and medical needs etc.
  • Mortgage of residential house/ flat / commercial property in the name and possession of the borrower either self-occupied or vacant or fully/ partially tenanted are accepted as security.
  • Loan against Lease hold properties where lessor is Govt. authority and Leasehold rights permit mortgage, can also be permitted selectively.
  • Takeover of existing mortgage loan/s from other Banks/FI (Having satisfactory dealings with our Bank).
  • Loan Quantum*
    • Upto 50% on the value of the property offered as security as per the valuation report of the banks panel-valuer.
    • Rs. 7.50 Crores.
  • Salaried class :
    • 96 times (For Low/Normal CRG grade customers) of last drawn monthly gross salary.
    • 84 times (For Medium/High CRG grade customers) of last drawn monthly gross salary.
  • Non-Salaried Class :
    • 8 times (For Low/Normal CRG grade customers) of cash accruals (Average of the last three preceding years annual cash accruals).
    • 7 times (For Medium/High CRG grade customers) of cash accruals (Average of the last three preceding years annual cash accruals).
  • *whichever is less

  • Repayment tenure
    • Maximum 180 months (as per the eligible norms).
  • Margin
    • 50% of the value of security.
  • Security
    • Equitable Mortgage of property acceptable to the Bank having clear marketable title.
    • Minimum Value of the property should be 200% of loan amount.
  • Guarantee
    • Personal Guarantee of spouse / legal heirs is to be mandatorily obtained.
  • Processing charges
    • 0.50% of loan amount with a minimum of Rs.5000/-.
  • Documentation charges
    • Rs.100/- per Lakh (Minimum of Rs. 1,000/- & Maximum of Rs. 25,000/-).
  • Stipulated Loan Application with 2 passport size photos of applicant /Co-applicants/ guarantor.
  • KYC documents of applicant /Co-applicants/ guarantor.
  • Proof of Identity
    PAN CARD/Driver’s License/Voter ID /Passport/ Aadhar Card etc.
  • Proof of Residence
    Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
  • Salaried individuals
    • Latest 6 months salary slips (including co-applicants).
    • Proof of confirmed service : Form No.16 & ITR if any supported by Employee ID/Appointment Letter/ Confirmation in services evidencing duration of the employment/3 years IT Returns.
  • Business/Self-Employed individuals
    • Balance Sheet and Profit & Loss account for past three assessment years.
    • ITR filed for past three assessment years.
    • Brief note on the nature of business.
    • Proof of Business.
  • NRI applicants

      Proof of identity :

    • Copy of first 4 pages of passport and page with visa stamp, or IC/PIO card.
    • Valid work permit.
    • Copy of salary certificate duly attested by Indian Embassy/ Consulate/ Employer.
    • Account statement/ passbook of overseas bank showing salary and savings.
    • Notarized Power of Attorney, if applicant proposes to authorize a third party to execute the documents/ complete the mortgage formalities/ avail the loan instalments.
    • Copy of the approved plan of building.
    • Encumbrance Certificate for past 13 years.
    • Khata Certificate/ Khata Extract.
    • Upto date tax paid receipts of the property.
    • Valuation report from Banks approved valuer.
  • Additional Documents in case of Takeover from Other Bank/ FI
    • NOC from existing Banker regarding pre-closure.
    • List of original documents held by Transferor Bank along with their attest copy.
    • Copy of Sanction Letter.
    • Statement of Loan Account from date of sanction.
    • Any other documents as required by Bank.
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Last updated on 25-08-2023 01:05 PM

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