- Personal banking /
- Loans /
- Mortgage Loan
Mortgage Loan
Housing construction/Extension/Repairs
| TITLE | NORMS |
|---|---|
| Purpose | Housing construction/Extension and Purchase of House/Flat/ |
| Eligibility | Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income |
| Loan Limit | Rs.6250000/-(sixty two lakh and fifty thousand) Maximum for Housing/House Repairs/Interior |
| Repayment Period | Repayable in 120 Months Reduced Interest for Housing/Repairs |
| Rate of Interest | 11.5% reducing Interest for House Construction/Extension/House Purchase |
| 12% Reducing Interest for House repairs/Marriage, Clearing debts, Domestic and Others. | |
| Share Holding | 2.5% of the Loan amount |
| Security | Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds |
| Purpose Proof | Construction/Approved plan |
| Documentation | Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card |
| Income Proof - Salaried Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns |
|
| Business/Professionals 3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement |
|
| Self employed 1. Consent declaration from family members wherever applicable. 2. Income proof as above of family members wherever applicable. |
|
| Purpose Proof | Construction Extension Approved plan, Estimation for construction by Registered civil engineers.Property photo ( 2 views) – property and road. |
| Purchase of House/Flat Agreement of Sale executed on stamp paper Xerox copies of property documents as referred below: |
Purchase of House building/Flats
| TITLE | NORMS |
|---|---|
| Purpose | Housing construction/Extension and Purchase of House/Flat/ |
| Eligibility | Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income |
| Loan Limit | Rs.6250000/-(sixty two lakh and fifty thousand) Maximum for Housing/House Repairs/Interior |
| Repayment Period | Repayable in 120 Months Reduced Interest for Housing/Repairs |
| Rate of Interest | 13% reducing Interest for House Construction/Extension/House Purchase |
| Upto Rs.5000000/- 14% Reducing Interest for House repairs/Marriage, Clearing debts, Domestic and Others. | |
| Above Rs.5000000/- 14.5% Reducing Interest for Marriage, Clearing debts, Domestic and Others. | |
| Share Holding | 2.5% of the Loan amount |
| Security | Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds |
| Purpose Proof | Construction/Approved plan |
| Documentation | Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card |
| Income Proof - Salaried Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns |
|
| Business/Professionals 3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement |
|
| Self employed 1. Consent declaration from family members wherever applicable. 2. Income proof as above of family members wherever applicable. |
|
| Purpose Proof | Construction Extension Approved plan, Estimation for construction by Registered civil engineers.Property photo ( 2 views) – property and road. |
| Purchase of House/Flat Agreement of Sale executed on stamp paper Xerox copies of property documents as referred below: |
Documents Required
Documents required ( in originals) to be submitted
- Parent deed/vendor’s title deed.
- Sale deed. In case of Gift Deed, Partition deed, Will- deeds establishing derival of the title of the Property should be produced. In case of BDA layout properties Allotment letter, Possession certificate, certified copy of lease cum sale agreement, Absolute sale deed to be produced
- Latest Khatha certificate.
- Latest Khatha extract.
- Tax paid receipt-up-to date.
- Encumbrance- 15-30 years till date.
- Plan sanction by BBMP/BDA.
- Layout plan approved from BDA/BMRDA and other competent authority
- NOC from Society. (if it is allotted through society). If lease period exists NOC from BDA.
- Betterment charges paid receipt.
- DC conversion order in case of converted land.
- RTC extract.
- Mutation record.
- Genological tree
- Any other document as required by Legal Scrutiny Report.
- No Objection Letter from applicant’s wife / husband / son / daughter/ father/ mother.
*Note: Limit of Advance under each case depends upon valuation of the Property, repayment capacity and purpose.