Loan Against Commercial Purpose (Mortgage Loan)

Eligibility of borrower:

  • Having current/saving account holder of the Bank.
  • Borrower must be a member of the Bank.

Purpose of Loan:

  • Purchase of Shop, Factory shed, Office (Business premises) etc.
  • Renovation of property.

Quantum of Finance:

  • Up to 70% of property value.

Share Linkage:

  • Borrower must have Bank's share linkage @ 1% of the loan sanction amount.

Features:

  • Loan tenure up to 120 months.
  • Nominal Processing Charge
  • 2% loan closure charge of loan outstanding amount will be charged, In case of Loan closed above Rs. 10 Lacs through Bank transfer.
  • Easy Process
  • Interest is to be charged on reducing balance method.
  • Two Guarantors, out of one must be a non-relative guarantor.

Security:

  • Mortgage of property.