Loan against Property

MORTAGE LOAN(LOAN AGAINST PROPERTY)

Purpose: For any domestic /business purpose except speculation.

Eligibility: Individual having an assured source of income viz. salaried employees, self employed, professional, business men.

Security: Mortgage of property and personal guarantee of two person, acceptable to the bank.

Margin: 50%

Amount of Loan: 50% of the distress value of the property, maximum Rs. 25.00 lacs.

Process Fee: 0.50% of the loan amount.

Repayment:84 Months in case of term loan and 120 Months in case of overdraft facility, with a condition that the net take-home after all deductions should not be less than 40% of the salary/Income.