Repayment
Period : Monthly equated installment commencing
from next month after
disbursement
in case of term loan / Yearly renewal for Cash
Credit.
Loan
Period
: Maximum - 5 years.
Margin
: 50% of property
value.
Eligibility
(A) :
Individual singly or jointly, Traders, Businessman,
Self
Employed
persons
etc.
(B)
: Permanent employee of reputed corporate/
institutions / Govt.
/ Semi
Govt. Dept. having net income of Rs. 10,000/- per
month
or more.
(C)
: Traders, businessman, professional, Self
employeed persons
having
net income of Rs. 1 Lakh and more per annum.
(D)
: Loan against mortage of immovable property
situated in metro /
urban
/ semi-urban areas.
Quantum
of Loan : Minimum limit
Rs. 2.00 Lakhs
Maximum
limit Rs. 10.00 Lakhs
Other
Norms :
(A) :
For Individual in Service
1
: Maximum
20 times of net monthly income .
2
: I.T. return copy.
3
: Minimum take home pay should be 40% of gross
salary.
(B) : For Businessmen,
Traders,
Professionals or Self Employed.
1
: Income proof for last two years i.e.audited
Balance sheet or I.T.
return.
2
: Net income
* 20 / 12 = eligible loan amount.
(C) : Rate of interest will
be PLR + 1% or monthly rest or as decided
by the Bank from time
to time.
(D)
: Equitable / Registered Mortage of resedential
flat, house or
Commercial
property situated in metro / urban
/ semi-urban
areas
.
(E) : One-third
party guarantor acceptable to Bank.
