Mortage Loan

Housing construction/Purchase/Repairs

TITLE NORMS
Purpose Housing construction/Extension and Purchase of House/Flat/
Eligibility Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income
Loan Limit Rs.7000000/-(seventy lakhs) Maximum for Housing
Rs.200000/- for House Repairs/Interior
Repayment Period Repayable in 180 EMI for Housing
Repayable in 60 EMI for Repairs
Rate of Interest a) Upto Rs. 70 Lakhs 11.00% P A EMI
b) Above Rs. 70 Lakhs 13.00% P A EMI
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Purpose Proof Construction/Approved plan
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
1. Consent declaration from family members wherever applicable.
2. Income proof as above of family members wherever applicable.
Purpose Proof Construction Extension
Approved plan, Estimation for construction by Registered civil engineers.Property photo ( 2 views) – property and road.
Purchase of House/Flat
Agreement of Sale executed on stamp paper Xerox copies of property documents as referred below:

Commercial Building construction/purchase

TITLE NORMS
Purpose *connstruction
Eligibility Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income
Loan Limit Rs.3.82 Crores as per loan policy
Repayment Period Repayable in 120 EMI
Rate of Interest 13.00% P.A EMI
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
1. Consent declaration from family members wherever applicable.
2. Income proof as above of family members wherever applicable.
Purpose Proof Construction Extension
Approved plan, Estimation for construction by Registered civil engineers.Property photo ( 2 views) – property and road.
Purchase of Building
Agreement of Sale executed on stamp paper Xerox copies of property documents as referred below:

Business purpose ­Term Loan/Cash Credit Accommodation for Trade

TITLE NORMS
Purpose Business purpose Term loan (Retail/wholesale trade, Industry and SSI)
Eligibility Improvement of existing Business unit /acquiring new business Unit/ To start new business.
Loan Limit Rs.3.82 crore as per loan policy
Repayment Period Repayable in 180 EMI
Rate of Interest 13.00% P A
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Business:
3 years IT Returns, with Tax paid challan Bank pass book/statement Consent declaration from family members wherever applicable. Registered Partnership Deed/ Memorandum of Association & Articles of Association with Company Registration certificate. Income proof as above of family members wherever applicable.
Purpose Proof Registration Certificate issued by authority and/or KST/CST / VAT, Trade License,
Property photo ( 2 views – property and road.) Resolution to avail loan(applicable to Partnership Firm and Companies)
CA certified P & L a/c and Balance sheet for last 3 years , Project report with projected P& L and Balance sheet, nad Financial statements with DSCR for 5 years

Cash Credit Accommodation


TITLE NORMS
Purpose Cash Credit Accommodation
Eligibility Businessmen/Professionals
Loan Limit Subject to security value and working capital requirement
Repayment Period Limit Period 12 months
Rate of Interest 14% P A on daily balance
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
Consent declaration from family members wherever applicable.
Income proof as above of family members wherever applicable.
CA certified P & L a/c and Balance sheet for last 3 years with Detailed list of Creditors
Purpose Proof Purpose Proof Working capital requirement details

Commerce/ Small Scale Industries

Purchase of Commercial vehicle

TITLE NORMS
Purpose Higher Education of Children in India and Abroad
Eligibility Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income
Loan Limit Maximum Rs.1000000/- in India and Rs.2500000/- in Abroad
Repayment Period Repayable in 100 EMI
Rate of Interest 13% P A reducing balance
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
5. Consent declaration from family members wherever applicable.
6. Income proof as above of family members wherever applicable.
Purpose Proof Purpose Proof Study Certificate from the Institution/ Admission allotment letter issued by the Authority/Fee’s structure demand letter from Institution.

Purchase of Commercial Vehicle

TITLE NORMS
Purpose Purchase of Commercial Vehicle
Eligibility Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income
Loan Limit As per Loan Policy
Repayment Period Repayable in 120 EMI
Rate of Interest 13.00% P A
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
5. Consent declaration from family members wherever applicable.
6. Income proof as above of family members wherever applicable.
Purpose Proof Purpose Proof Marriage Invitation/Choultry booking receipt, Medical- Hospital Bills/Estimation for Treatment with Doctors certificate from recognized hospitals.

Higher Education in India/Abroad

TITLE NORMS
Purpose Higher Education of Children in India and Abroad
Eligibility Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income
Loan Limit As per loan policy
Repayment Period Repayable in 120 Months EMI
Rate of Interest 11% P A EMI
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
5. Consent declaration from family members wherever applicable.
6. Income proof as above of family members wherever applicable.
Purpose Proof Purpose Proof Study Certificate from the Institution/ Admission allotment letter issued by the Authority/Fee’s structure demand letter from Institution.

Medical/Marriage purpose

TITLE NORMS
Purpose Marriage/Medical purpose
Eligibility Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income
Loan Limit As per Loan Policy
Repayment Period Repayable in 120 EMI
Rate of Interest 13.00% P A
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
5. Consent declaration from family members wherever applicable.
6. Income proof as above of family members wherever applicable.
Purpose Proof Purpose Proof Marriage Invitation/Choultry booking receipt, Medical- Hospital Bills/Estimation for Treatment with Doctors certificate from recognized hospitals.

Repayment of Trade debts receivables

TITLE NORMS
Purpose Repayment of Trade Debts Receivables
Eligibility Businessmen/Professionals
Loan Limit As per Loan Policy
Repayment Period Repayable in 120 EMI
Rate of Interest 13.00% P A
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
Consent declaration from family members wherever applicable.
Income proof as above of family members wherever applicable.
CA certified P & L a/c and Balance sheet for last 3 years with Detailed list of debtors.
Purpose Proof Purpose Proof Proof for having incurred debts.

Rental Discounting

TITLE NORMS
Purpose Rental Discounting
Eligibility Individuals/ Businessmen/Professionals
Loan Limit Subject to Valid Income Proof
Repayment Period and Source Repayable in 120 EMI – from out of Rental Income with tripartite agreement and the Tenant should be a standard company
Rate of Interest 13.00% P A
Share Holding 2.5% of the Loan amount
Security Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds
Documentation Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card
Income Proof - Salaried
Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns
Business/Professionals
3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement
Self employed
Consent declaration from family members wherever applicable.
Income proof as above of family members wherever applicable.
CA certified P & L a/c and Balance sheet for last 3 years with Detailed list of debtors.
Purpose Proof Purpose Proof As acceptable to the Bank(Business/Reinvestment/Property Development)

Documents Required

Documents required ( in originals) to be submitted
  1. Parent deed/vendor’s title deed.
  2. Sale deed. In case of Gift Deed, Partition deed, Will- deeds establishing derival of the title of the Property should be produced. In case of BDA layout properties Allotment letter, Possession certificate, certified copy of lease cum sale agreement, Absolute sale deed to be produced
  3. Latest Khatha certificate.
  4. Latest Khatha extract.
  5. Tax paid receipt-up-to date.
  6. Encumbrance- 15-30 years till date.
  7. Plan sanction by BBMP/BDA.
  8. Layout plan approved from BDA/BMRDA and other competent authority
  9. NOC from Society. (if it is allotted through society). If lease period exists NOC from BDA.
  10. Betterment charges paid receipt.
  11. DC conversion order in case of converted land.
  12. RTC extract.
  13. Mutation record.
  14. Genological tree
  15. Any other document as required by Legal Scrutiny Report.
  16. No Objection Letter from applicant’s wife / husband / son / daughter/ father/ mother.

  17. *Note: Limit of Advance under each case depends upon valuation of the Property, repayment capacity and purpose.

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