Email : admin.ao@ncbl.org.in
Call on us : +91 080 2661 8093
Email : admin.ao@ncbl.org.in
Call on us : +91 080 2661 8093
| Eligibility | Member/Associate Member of the Bank |
| Area of Operation | Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP) |
| Documents required: As applicable to security offered |
Parent deed/vender’s title deed, Sale deed, Possession certificate. Khatha certificate, Khatha extract, Tax paid receipt-up-to date, Encumbrance- 15-30 years till date. Plan sanction by BBMP/BDA, Layout plan approved from BDA/BMRDA and other competent authority, NOC from Society (if it is allotted through society), Betterment charges paid receipt, DC conversion order in case of converted land, RTC extract, Mutation record. Genological tree, Pahani, Self affidavit (Self acquired/ancestral), Any other document as required by Legal Scrutiny Report. No objection letter from the property owner, if it belongs to applicant’s wife / husband / son / daughter/ father/ mother. Third Party security are not acceptable. |
| Maximum limit | Rs.70.00 lakhs |
| Margin | Not less than 35% of value as assessed by the Bank’s valuer. |
| EMI | Monthly compounded on reducing balance (EMI for your required of loan refer EMI Calculator) |
| Maximum Repayment Period | 240 Months including moratorium period |
| Income Proof | Latest Salary Slip and Form – 16 issued by employer if assessee - IT returns, balance sheet, P & L A/c and computation of income. Rental agreement (income proof). The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity. Any other income proof acceptable to the Bank. |
| Mortgage type | In all other cases the mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
| Release of loan | Disbursement of loan shall be made in not exceeding four instalments in case of construction of house depending on the progress of construction after inspection of the construction spot (by the Branch Manager or any official authorised by the Branch Manager) by one of the officials before release of 2nd, 3rd and 4th instalment. |
| Documents required substantiating the purpose of loan | Sanctioned Plan by the Competent Authority, Estimate for Construction, Proof for Margin Money |
| Interest rate and interest application frequency | The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
| Charges |
1. Service charges 0.5 % of the loan amount sanctioned + service tax 2. Processing charges Rs.2079/- (including legal and valuation) 3. Mortgage Charges: As per Stamp Act of Govt.Karnataka. |
| Share link: | Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
| Insurance | The borrower shall get the mortgaged property insured against fire and other risks and the premium has to be paid by the borrower. Such fire policy shall be in the name of the borrower with Bank clause and renewed every year and if the borrower fails to do so the bank is empowered to debit the members’ account and renew the insurance. |
| Commitment charges for loans not availed within specified period of sanction. | 1% per annum on the loan/limit sanctioned from the date of sanction till the
date of availment. Fraction of days, more than 10 days shall be treated as month. If the loan is not availed within 4 months from the date of communication of sanction, commitment charges should to be collected. The loans, if not availed within the above period of sanction requires renewal with commitment charges. |
| Number of Sureties / Co-obligants | Spouse of the applicant and the co-obligation/surety of one or more members of the family
may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family
members to arrive at repaying capacity. Co-obligant/ surety’s should be member/ associate member. Otherwise
they can become nominal member by payment of nominal membership fee of Rs.100/-. The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties). |
| Eligibility | Member/Associate Member of the Bank For takeover of housing loan a/c. should be standard asset |
| Area of Operation | Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP) |
| Documents required: As applicable to security offered |
Parent deed/vender’s title deed, Sale deed, Possession certificate. Khatha certificate, Khatha extract, Tax paid receipt-up-to date, Encumbrance- 15-30 years till date. Plan sanction by BBMP/BDA, Layout plan approved from BDA/BMRDA and other competent authority, NOC from Society (if it is allotted through society), Betterment charges paid receipt, DC conversion order in case of converted land, RTC extract, Mutation record. Genological tree, Pahani, Self affidavit (Self acquired/ancestral), Any other document as required by Legal Scrutiny Report. Loan pass sheets (takeover) |
| Maximum limit | Rs.70.00 lakhs |
| Margin | Not less than 35% of value as assessed by the Bank’s valuer |
| EMI | Monthly compounded on reducing balance (EMI for your required of loan refer EMI Calculator) |
| Maximum Repayment Period | 240 Months including moratorium period. |
| Income Proof | Latest Salary Slip and Form – 16 issued by employer if assessee - IT returns, balance sheet, P & L A/c and computation of income. Rental agreement (income proof). The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity. Any other income proof acceptable to the Bank. |
| Mortgage type | The mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
| Release of loan | Disbursement of loan shall be made directly to the Vendor. Disbursement of loan shall be made directly to the Bank/ Financial Institutions (Takeover) |
| Documents required substantiating the purpose of loan | Sale Agreement, Letter from builder regarding non-encumbrance of the property,
Proof for margin money. NOC from Bank/Financial Institutions (Takeover). |
| Interest rate and interest application frequency | The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
| Charges |
1. Service charges 0.5 % of the loan amount sanctioned + service tax 2. Processing charges Rs.2079/- (including legal and valuation) 3. Mortgage Charges: As per Stamp Act of Govt.Karnataka. |
| Share link: | Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
| Insurance | The borrower shall get the mortgaged property insured against fire and other risks and the premium has to be paid by the borrower. Such fire policy shall be in the name of the borrower with Bank clause and renewed every year and if the borrower fails to do so the bank is empowered to debit the members’ account and renew the insurance. |
| Commitment charges for loans not availed within specified period of sanction. | 1% per annum on the loan/limit sanctioned from the date of sanction till the
date of availment. Fraction of days, more than 10 days shall be treated as month. If the loan is not availed within 4 months from the date of communication of sanction, commitment charges should to be collected. The loans, if not availed within the above period of sanction requires renewal with commitment charges. |
| Number of Sureties / Co-obligants required | Spouse of the applicant and the co-obligation/surety of one or more members of the family
may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family
members to arrive at repaying capacity. Co-obligant/ surety’s should be member/ associate member. Otherwise
they can become nominal member by payment of nominal membership fee of Rs.100/-. The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties). |
| Eligibility | Member / Associate Member of the Bank |
| Area of Operation | Bangalore Urban and Rural District, Mysore (whether to specify area which will be covered - MAP) |
| Documents required: As applicable to security offered |
Parent deed/vender’s title deed, Sale deed, Possession certificate. Khatha certificate, Khatha extract, Tax paid receipt-up-to date, Encumbrance- 15-30 years till date. Plan sanction by BBMP/BDA, Layout plan approved from BDA/BMRDA and other competent authority, NOC from Society (if it is allotted through society), Betterment charges paid receipt, DC conversion order in case of converted land, RTC extract, Mutation record. Genological tree, Pahani, Self affidavit (Self acquired/ancestral), Any other document as required by Legal Scrutiny Report. No objection letter from the property owner, if it belongs to applicant’s wife / husband / son / daughter/ father/ mother. Third Party security are not acceptable. |
| Maximum limit | Rs.10.00 lakhs |
| Margin | Not less than 35% of value as assessed by the Bank’s valuer + Cost of Renovation. |
| EMI | Monthly compounded on reducing balance (EMI for your required of loan refer EMI Calculator) |
| Maximum Repayment Period | 180 Months |
| Income Proof | Latest Salary Slip and Form – 16 issued by employer if assessee - IT returns, balance sheet, P & L A/c and computation of income. Rental agreement (income proof). The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity. Any other income proof acceptable to the Bank. |
| Penalty for foreclosure | Nil |
| Mortgage type | The mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
| Release of loan | Disbursement of loan shall be made in instalments in case of Renovation of house depending on the progress of Renovation after inspection of the property (by the Branch Manager or any official authorised by the Branch Manager) by one of the officials. |
| Documents required substantiating the purpose of loan | Estimate for Renovation, Proof for Margin Money |
| Interest rate and interest application frequency | The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. To check Interest Rate |
| Charges |
1. Service charges 0.5 % of the loan amount sanctioned + GST 2. Processing charges Rs.2079/- (including legal and valuation) 3. Mortgage Charges: As per Stamp Act of Govt.Karnataka. |
| Share link: | Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
| Insurance | The borrower shall get the mortgaged property insured against fire and other risks and the premium has to be paid by the borrower. Such fire policy shall be in the name of the borrower with Bank clause and renewed every year and if the borrower fails to do so the bank is empowered to debit the members’ account and renew the insurance. |
| Commitment charges for loans not availed within specified period of sanction. | 1% per annum on the loan/limit sanctioned from the date of sanction till the
date of availment. Fraction of days, more than 10 days shall be treated as month. If the loan is not availed within 4 months from the date of communication of sanction, commitment charges should to be collected. The loans, if not availed within the above period of sanction requires renewal with commitment charges. |
| List of papers/ documents applicable to all applicants: | 1. Employer Identity Card
2. Loan Application: Completed loan application form duly filled in affixed with
3 Passport size photographs
3. Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
4. Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity
Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
Property Papers: 1. Permission for construction (where applicable) 2. Stamped Agreement for Sale /Allotment Letter 3. Occupancy Certificate (in case of ready to move property) 4. Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property) 5. Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller Account Statement: 1. Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s 2. If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year Income Proof for Salaried Applicant/ Co-applicant/ Guarantor: 1. Salary Slip or Salary Certificate of last 3 months 2. Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept. Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor: 1. Business address proof 2. IT returns for last 3 years 3. Balance Sheet & Profit & Loss A/c for last 3 years 4. Business License Details(or equivalent) 5. TDS Certificate (Form 16A, if applicable) 6. Certificate of qualification (for C.A./ Doctor and other professionals) |
| Number of Sureties / Co-obligants required | Spouse of the applicant and the co-obligation/surety of one or more members of the family
may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family
members to arrive at repaying capacity. Co-obligant/ surety’s should be member/ associate member. Otherwise
they can become nominal member by payment of nominal membership fee of Rs.100/-. The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties). |
| Eligibility | Member/Associate Member of the Bank |
| Area of Operation | Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP) |
| Documents required: As applicable to security offered |
Parent deed/vender’s title deed, Sale deed, Possession certificate. Khatha certificate, Khatha extract, Tax paid receipt-up-to date, Encumbrance- 15-30 years till date. Plan sanction by BBMP/BDA, Layout plan approved from BDA/BMRDA and other competent authority, NOC from Society (if it is allotted through society), Betterment charges paid receipt, DC conversion order in case of converted land, RTC extract, Mutation record. Genological tree, Pahani, Self affidavit (Self acquired/ancestral), Any other document as required by Legal Scrutiny Report. No objection letter from the property owner, if it belongs to applicant’s wife / husband / son / daughter/ father/ mother. Third Party security are not acceptable. |
| Maximum limit | Rs.50.00 lakhs |
| Margin | Not less than 35% of value as assessed by the Bank’s valuer. |
| EMI | Monthly compounded on reducing balance (EMI for your required of loan refer EMI Calculator) |
| Maximum Repayment Period | 180 Months |
| Income Proof | Latest Salary Slip and Form – 16 issued by employer if assessee - IT returns, balance sheet, P & L A/c and computation of income. Rental agreement (income proof). The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity. Any other income proof acceptable to the Bank. |
| Mortgage type | In all other cases the mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
| Release of loan | Disbursement of loan shall be made in single instalment. |
| Documents required substantiating the purpose of loan | Proof for having incurred debts |
| Interest rate and interest application frequency | The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
| Charges |
1. Service charges 0.5 % of the loan amount sanctioned + service tax 2. Processing charges Rs.2079/- (including legal and valuation) 3. Mortgage Charges: As per Stamp Act of Govt.Karnataka. |
| Share link: | Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
| Insurance | The borrower shall get the mortgaged property insured against fire and other risks and the premium has to be paid by the borrower. Such fire policy shall be in the name of the borrower with Bank clause and renewed every year and if the borrower fails to do so the bank is empowered to debit the members’ account and renew the insurance. |
| Commitment charges for loans not availed within specified period of sanction. | 1% per annum on the loan/limit sanctioned from the date of sanction till the
date of availment. Fraction of days, more than 10 days shall be treated as month. If the loan is not availed within 4 months from the date of communication of sanction, commitment charges should to be collected. The loans, if not availed within the above period of sanction requires renewal with commitment charges. |
| Number of Sureties / Co-obligants required | Spouse of the applicant and the co-obligation/surety of one or more members of the family
may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family
members to arrive at repaying capacity. Co-obligant/ surety’s should be member/ associate member. Otherwise
they can become nominal member by payment of nominal membership fee of Rs.100/-. The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties). |
| Eligibility | Member/Associate Member of the Bank can avail loan for Higher Studies for self/spouse/children for payment of fees, purchase of books, Hostel expenses etc., for studying professional courses, post graduation, degree/courses at abroad/inland. |
| Area of Operation | Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP) |
| Documents required: As applicable to security offered | Parent deed/vender’s title deed, Sale deed, Possession certificate, Khatha certificate, Khatha extract, Tax paid receipt-up-to date, Encumbrance- 15-30 years till date, Plan sanction by BBMP/BDA, Layout plan approved from BDA/BMRDA and other competent authority, NOC from Society (if it is allotted through society), Betterment charges paid receipt, DC conversion order in case of converted land, RTC extract, Mutation record, Genological tree, Pahani, Self affidavit (Self acquired/ancestral), Any other document as required by Legal Scrutiny Report, No objection letter from the property owner, if it belongs to applicant’s wife / husband / son / daughter/ father/ mother. Third Party security are not acceptable. |
| Maximum limit | Rs.20.00 lakhs for studies abroad Rs.10.00 lakhs for studies inland. |
| Margin | Not less than 35% of value as assessed by the Bank’s valuer |
| EMI | Monthly compounded on reducing balance (EMI for your required of loan refer EMI Calculator) |
| Maximum Repayment Period | 96 Months including moratorium period. |
| Moratorium period | Upto 24 Months |
| Income Proof | Latest Salary Slip and Form – 16 issued by employer if assessee - IT returns, balance sheet, P & L A/c and computation of income. Rental agreement (income proof). The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity. Any other income proof acceptable to the Bank. |
| Mortgage type | In all other cases the mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
| Release of loan | Disbursement of loan shall be made in instalments depending on the requirement of Student. |
| Documents required substantiating the purpose of loan: | Proof for educational qualification, Admission letter from concerned college/university, details about course fee, cost of books, etc. |
| Interest rate and interest application frequency: | The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
| Charges |
1. Service charges 0.5 % of the loan amount sanctioned + service tax 2. Processing charges Rs.2079/- (including legal and valuation) 3. Mortgage Charges: As per Stamp Act of Govt. Karnataka. |
| Share link: | Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
| Insurance | The borrower shall get the mortgaged property insured against fire and other risks and the premium has to be paid by the borrower. Such fire policy shall be in the name of the borrower with Bank clause and renewed every year and if the borrower fails to do so the bank is empowered to debit the members’ account and renew the insurance. |
| Commitment charges for loans not availed within specified period of sanction. | 1% per annum on the loan/limit sanctioned from the date of sanction till the
date of availment. Fraction of days, more than 10 days shall be treated as month. If the loan is not availed within 4 months from the date of communication of sanction, commitment charges should to be collected. The loans, if not availed within the above period of sanction requires renewal with commitment charges. |
| Number of Sureties / Co-obligants required | Spouse of the applicant and the co-obligation/surety of the student. One or
more members of the family may be accepted if advised by legal adviser for legal compliance
and/or to reckon the income of the family members to arrive at repaying capacity. Co-obligant/
surety’s should be member/ associate member. Otherwise they can become nominal member by payment
of nominal membership fee of Rs.100/-. The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties). |
| Eligibility | Member/Associate Member of the Bank |
| Area of Operation | Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP) |
| Documents required: As applicable to security offered | Parent deed/vender’s title deed, Sale deed, Possession certificate, Khatha certificate, Khatha extract, Tax paid receipt-up-to date, Encumbrance- 15-30 years till date, Plan sanction by BBMP/BDA, Layout plan approved from BDA/BMRDA and other competent authority, NOC from Society (if it is allotted through society), Betterment charges paid receipt, DC conversion order in case of converted land, RTC extract, Mutation record, Genological tree, Pahani, Self affidavit (Self acquired/ancestral), Any other document as required by Legal Scrutiny Report, No objection letter from the property owner, if it belongs to applicant’s wife / husband / son / daughter/ father/ mother. Third Party security are not acceptable. |
| Maximum limit | Rs.50.00 lakhs |
| Margin | Not less than 35% of value as assessed by the Bank’s valuer + Cost of Construction. |
| EMI | Monthly compounded on reducing balance (EMI for your required of loan refer EMI Calculator) |
| Maximum Repayment Period | 180 Months including moratorium period. |
| Moratorium period | Maximum of 18 months |
| Income Proof | IT returns, balance sheet, P & L A/c and computation of income. Rental agreement (income proof). The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity. Any other income proof acceptable to the Bank. |
| Mortgage type | In all other cases the mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
| Release of loan | Disbursement of loan shall be made in not exceeding four instalments in case of construction depending on the progress of construction after inspection of the construction spot (by the Branch Manager or any official authorised by the Branch Manager) by one of the officials before release of 2nd, 3rd and 4th instalment. |
| Documents required substantiating the purpose of loan: | Sanctioned Plan by the Competent Authority, Estimate for Construction, Proof for Margin Money |
| Interest rate and interest application frequency: | The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
| Charges |
1. Service charges 0.5 % of the loan amount sanctioned + service tax 2. Processing charges Rs.2079/- (including legal and valuation) 3. Mortgage Charges: As per Stamp Act of Govt.Karnataka. |
| Share link: | Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
| Insurance | The borrower shall get the mortgaged property insured against fire and other risks and the premium has to be paid by the borrower. Such fire policy shall be in the name of the borrower with Bank clause and renewed every year and if the borrower fails to do so the bank is empowered to debit the members’ account and renew the insurance. |
| Commitment charges for loans not availed within specified period of sanction. | 1% per annum on the loan/limit sanctioned from the date of sanction till the
date of availment. Fraction of days, more than 10 days shall be treated as month. If the loan is not availed within 4 months from the date of communication of sanction, commitment charges should to be collected. The loans, if not availed within the above period of sanction requires renewal with commitment charges. |
| Number of Sureties / Co-obligants required | Spouse of the applicant and the co-obligation/surety of the student. One or
more members of the family may be accepted if advised by legal adviser for legal compliance
and/or to reckon the income of the family members to arrive at repaying capacity. Co-obligant/
surety’s should be member/ associate member. Otherwise they can become nominal member by payment
of nominal membership fee of Rs.100/-. The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties). |
| Eligibility | Member/Associate Member of the Bank |
| Area of Operation | Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP) |
| Documents required: As applicable to security offered | Parent deed/vender’s title deed, Sale deed, Possession certificate, Khatha certificate, Khatha extract, Tax paid receipt-up-to date, Encumbrance- 15-30 years till date, Plan sanction by BBMP/BDA, Layout plan approved from BDA/BMRDA and other competent authority, NOC from Society (if it is allotted through society), Betterment charges paid receipt, DC conversion order in case of converted land, RTC extract, Mutation record, Genological tree, Pahani, Self affidavit (Self acquired/ancestral), Any other document as required by Legal Scrutiny Report. |
| Maximum limit | Rs.50.00 lakhs |
| Margin | Not less than 35% of value as assessed by the Bank’s valuer + Cost of Construction. |
| EMI | Monthly compounded on reducing balance (EMI for your required of loan refer EMI Calculator) |
| Maximum Repayment Period | 180 Months |
| Income Proof | Latest Salary Slip and Form – 16 issued by employer if assessee - IT returns, balance sheet, P & L A/c and computation of income. Rental agreement (income proof). The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity. Any other income proof acceptable to the Bank. |
| Mortgage type | The mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
| Release of loan | Disbursement of loan shall be made directly to the Vendor. |
| Documents required substantiating the purpose of loan: | Sale Agreement, Proof for margin money. |
| Interest rate and interest application frequency: | The Rate of Interest will be charged and compounded at monthly intervals and interest so charged will be capitalised. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
| Charges |
1. Service charges 0.5 % of the loan amount sanctioned + service tax 2. Processing charges Rs.2079/- (including legal and valuation) 3. In case of equitable mortgage stamp duty of 0.10 % on the loan amount sanctioned. 4.In case of registered mortgage stamp duty of 0.10 % of the loan amount sanctioned + reg fee. Of 0.10% of the loan amount sanctioned. The above charges are subject to change. |
| Share link: | Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
| Commitment charges for loans not availed within specified period of sanction. | 1% per annum on the loan/limit sanctioned from the date of sanction till the
date of availment. Fraction of days, more than 10 days shall be treated as month. If the loan is not availed within 4 months from the date of communication of sanction, commitment charges should to be collected. The loans, if not availed within the above period of sanction requires renewal with commitment charges. |
| Number of Sureties / Co-obligants required | Spouse of the applicant and the co-obligation/surety of the student. One or
more members of the family may be accepted if advised by legal adviser for legal compliance
and/or to reckon the income of the family members to arrive at repaying capacity. Co-obligant/
surety’s should be member/ associate member. Otherwise they can become nominal member by payment
of nominal membership fee of Rs.100/-. The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties). |