Target Group:

• Individuals (singly or jointly) including salaried persons, professionals & self-employed and agriculturist/ firms / company.

Eligibility:

• Income:
  Income should be minimum Rs.1.20 Lacs per annum (While computing quantum of loan in case of joint borrowers, income of all borrowers may be clubbed)
  In case of Firm/Company, Net Cash Generation (after adding back depreciation) considered as income.
  In case of Firm/Company personal income of the proprietor/partners/Directors can be clubbed for determining quantum of loan available.



• Age:
  Minimum 21 years
  Maximum 70 years
  Firms/ Companies/ Society/ Trust should be minimum five years old.



• Property: Un encumbered Residential or Commercial Property in the name/s of borrower/s & situated at good residential or business centre

Loan Amount:

• Minimum : Rs. 5.00 Lac
• Maximum : Rs. 200.00 Lac 
• Maximum loan amount for salaried person: 36 times of Net Monthly Take Home Pay.
• Maximum loan amount for Agriculturists: 3 times of net annual income
• Maximum loan amount for other borrowers: Up to3 times of the net annual income  

Margin:

• 50% in case of Residential/Commercial Building
• 60% in case of Open Land

Type of Facility - Term Loan

Purpose

• Any Purpose for meeting business/ personal needs However, Loan to the    companies / firms for existing business purpose only.

Repayment

• Repayable in 108 Equated Monthly Installments.

Click here for Rate of interest

Click here for Processing Fees, Prepayment Penalty, Documentation Charges, Mortgage and other charges

Security:

• Equitable Mortgage of the Property against which loan is extended
• In case Firm/ Company/ Trust/ Society, personal guarantee of proprietor/ individual major partners/ promoter directors/ Trustee/office bearer or authorized signatory in addition to Equitable Mortgage.

Click here for the application form

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