Title Norms
Name of  Scheme
  1. Housing Loan Scheme.
Amount  of  Loan
  1. Up to Rs. 50 Lakh.
Type of Loan
  1. Term Loan.
                                       Rate of Interest
  1. 9% p.a (Reducing)
Period of Loan
  1. 10 years to 15 years.
 Margin
  1. 25% to 40% .
Guarantor
  1. Two well worthy guarantors.
Security Deposit
  1. 5%(3% Shares + 1% Building Fund+1% processing fee).
Mortgage
  1. Registered mortgage before disbursement of loan.
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.