Mortgaged Term Loan

Maximum amount:

Maximum 75% of Agreement Value or Market/Govt or Valuation Price whichever is low.

Eligibility:

Salaried Person-Employee of reputed organization with confirmed service/Businessman- Sole Proprietor/Partnership Firm/Limited Compnay/Professional/Self employed person etc.

Margin:

25%

Membership:

Regular Member of Bank.

Period:

Maximum 144 Loan months subject to residual period of employment/In case of business.
65 years of age up to Loan Maturity.

Guarantors:

Minimum two sureties maximum depends on merit of proposal

Security:

Registered/Equitable Mortgage of immovable property.

Interest Rate:

As per Bank Policy.

Service Charges:

Are applicable from time to time.

Documents Required:

Self certified KYC documents, Existing Bankers Statement for last one year, Original Pay slips for last consecutive three months/Salary Certificate, form No-16 And/or IT Returns with computation of income and Financial statements for last three consecutive years. In case of Businessman/Self employed/Proprietor/Partnership firm/Limited Company/ Professional IT Returns are compulsory along with other necessary documents, Security Documents. Project Report consisting of projected financial statements for five years if required.