| Scheme for finance Against mortgage of Immovable Property |
| Purpose |
For Business & Personal needs. |
| Eligibility |
| 1. Personal Needs : Employees of Central/State Govt./Schools/Colleges/Public Sector Undertakings (PSUs)/ Reputed Corporates (i.e. and Other Icome Tax Assesses, who are below the age of 70 years.) |
| 2. Business Enterprise: Existing customers with a satisfactory track record of three years (cash profits during last three years and net profit in the immediately preceding year.) belonging to Retail Traders/Whole-sale Traders, Professionals & Self-employed, Enterprises in Service sector and Manufacturing conerns. |
|
| Quantum of Finance |
| 1. For Personal Needs: Min. Rs. 1 lac and Max. 25 lac |
| 2. For Business Needs: Min. Rs. 5 lac and Rs. 500 lac |
|
| Security |
Loan/advances shall be sanctioned against the Equitable/Registered Mortgage of the non-encumbered residential House/Flat or commercial or industrial property (in the shape of building/ Industrial Shed) self-occupied or vacant. |
| Repayment |
| For Personal Needs: In max. 120 EMI or up to the age of 70, whichever is earlier. |
| For Business Needs: a) For Traders (Retail & Wholesale) - Max. 144 EMI |
| b) Enterprises in Service Sector, Professional & Self Employed, Manufacturing concerns, Educational Institutions- Max. 180 EMIs. |
|
| Rate of Interest |
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| Processing Charges/ Upfront fee |
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| Documentation Charges |
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