Housing Loan

Makan Machinary Loan


  • Housing Loan upto Rs.40/lacs is available for construction/purchase of old/new flat, bungalow,raw house and also for carryout addition/alteration in the existing residential house.

Housing Loan Applicant details :

  • Copy of Last Three years income tax return / Pay slip of last 3 months.
    If Applicant is businessman in that case last three years copies of balance sheet, income tax return of the proprietor/partner,statement of capital account.
  • If property is to be purchased under housing scheme,the copies of documents,such as share certificate,allotment-letter,saledeed,revenue records of 7/12.
  • Copy of authorised building plan.
  • Copy of receipt of advanced payment-made/copy of agreement to sale
  • Copy of title clearance certificate given by the advocate/ solicitor.
  • Consent letter from the society about noting of charge of the bank.
  • Three copies of Photograph
  • Copy of PAN Card
  • Address proof electric bill /telephone bill (any one)
  • Photo proof Pan card / Voter card / Driving license (Any one)

Guarantor Details

  • Photograph-two copies
  • Last tax bill
  • Last income tax return copy
  • Address proof electric bill /telephone bill (any one) As per KYC norms
  • Photo proof Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norms

Housing Loan Conditions

  • Original documents of property to be submitted to the bank. Registered mortgage of property to be done in favour of bank.Bank charge will be noted in society?? book.
  • Valuation of the property will be required for old property. Bank will give loan of 60% of valuation amount.(for old property)and new property bank will give loan of 80%.
  • Bank will give loan if property is having N.A.N.O.C and BU permission.
  • Applicant will have to take insurance of the building in favour of bank.
  • Loan amount with interest will be repaid within 120 equal monthly instalments.
  • Applicant has to submit original share certificate of the Society/Association, Municipal Tax bill, Tax receipt, sales deed etc, for registered mortgage of the property.
  • Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
  • Applicant has to take share @1%/ 2%/ 2.5% of the limit.
  • Processing charges upto Rs 1000 will be levied on sanction.

Machinery Loan

  • Machinery term loan is available for purchase of old/new machinery. Trading / Manufacturing units, Traders , Business community can avail credit facility for development of business.

Applicant details :

  • Applicant?? last two years Income tax Return /last years balance sheet and profit & loss account of firm/company.
  • Last tax bill / certificate from society chairman/Secretary if applicant own property
  • Applicant should have Savings/ current Bank account with the bank.
  • Bank Statement.
  • Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
  • 3 Photographs of Applicant
  • Address proof ??electric bill /telephone bill- land line /Aadhar card (any one) As per KYC norms.
  • Photo proof ??Pan card / Voter card / Driving license (Any one) As per KYC norms

Guarantor Details

  • Photograph-2 copies
  • Last tax bill
  • Last income tax return copy /Pay Slip
  • Address proof ??electric bill /telephone bill- land line (any one)
  • Photo proof ??Pan card / Voter card / Driving license/Aadhar card (Any one)

Conditions

  • Two guarantors are required.
  • Bank will sanction loan 80% of quotation amount for new machinery. Applicant has to deposit margin money with bank. Bank will issue banker cheque to dealer.
  • Loan will be repaid with interest within 60 equal monthly instalments.
  • Applicant has to submit 60 cheques for repayment of instalments and remaining cheques as per bank's instruction.
  • Applicant has to take share of bank @ 2.5% to 5.0% of the limit.
  • Processing charges upto 1000/- will be levied on sanction.

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