Mortage Loan

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:

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:

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

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.

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.

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.

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.

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.

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 ( 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.

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