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Purpose
General Purpose loan against Mortgage of Property
Eligibility
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Employees/ professionals / Self Employed and others who are Income Tax assessees.
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Engaged in Agriculture and Allied Activities
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NMI of Rs. 12,000/- pm for Salaried person and net annual income of 1,50,000/- for others.
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The income of spouse may be added if he / she is co borrower (where property is jointly held) or consents to stand as a guarantor.
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Max age 60 years |
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Loan Amount
Loan Amount
Min : 5 lacs
Max : 24 Times for a salaried person
2 times the net income for others
Subject to max of 50 lacs.
Margin
25% (Loan subject to 75% of the market value of property)
Repayment
Maximum 60 months in Equated Monthly Installments
Interest
Competitive rates based on credit rating of proposal
Processing Fee
As per bank’s norms
Pre- Payment
Waiver may be considered for selective cases.
Security
EM of property of borrower or guarantor.
Insurance
Property must be insured against all risks.
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