Title Norms
Purpose
  1. Personal expenses / Business Commitments.
Eligibility
  1. Salaried/ Businessmen /Professionals/ Proprietary/ Partnership Firms as well as Private Limited Companies.
  2. The Property can be residential or commercial in nature.
Limit of loan
  1. Max Rs. 500 lakh.
Basis of Advance  

  1. 50% of the Realizable Value as per valuation done by Bank’s approved value.

                                                  OR

  1. For Salaried persons: Maximum 40 times of avg net monthly salary.
Repayment Period
  1. Term Loan with maximum repayment period of 10 years.
Rate of Interest
  1. Reducing 15% p.a.
Processing fee
  1. Upto Rs. 25 lac : 2% of sanctioned amount.
  2. Above Rs. 25 lac: 1% of sanctioned amount.
Commitment charges
  1. For loans above Rs. 50 lakh: 0.25% on unavailed portion.
Shareholding
  1. Upto Rs. 25 lac : 5% of sanctioned amount.
  2. Above Rs. 25 lac: 2.5% of sanctioned amount.
Security
  1. By way of Mortgage (Legal / Registered) of residential or commercial property.
  2. The property should be owned by the Applicant or Spouse.
  3. In case of Private Limited Company:The Property acceptable as security can be in the name of the company or any of the Director.
  4. Spouse guarantee.
  5. In case of Partnerships firms, the personal guarantee of all the partners.
  6. In case of Private limited companies, personal guarantee of all the Directors.
Documentation
  1. Duly filled prescribed application form.
  2. Photograph, Photo Identity & Residence Proof of the Applicant & Guarantor.
  3. Income proof a) or b) as applicable.
  1. Salaried person : salary slips for last 3 months or ITR/Form 16 for last 2 years and bank account statement.
  2. Businessman/Professional/self employed: last three years audited profit & loss account and balance sheet, ITR with computation of income for last 3 years and Bank account statement for last 3 months. Documents for creating Mortgage as per list provided by bank.