Loans - Mortgage Loan

Title	Description
Purpose	Construction, repairs & renewals property
Limit of loan:	60% of valuation of property
Eligibility:	For salaried customer: Applicant should have permanent job in government, co-operative or in private sector Undertaking regarding deduction of installment from salary is required. Total deduction including installment of loan should not be more than 65% of monthly payment. Applicant should be income tax payee. (3years Income Tax return) For self employed Applicant should be income tax payee.(3years Income Tax return)
Rate Of Interest	Upto 5 lakhs - 13% Above 5 lakhs - 12% Builders loan - 16.00%
Repayment Period	5 to 10 years
Security	Mortgage of property Two guarantors.
Other Charges	Valuation fees-As applicable. Processing fee- Up to 50 laks 1% above 50 lakh 0.50% Advoacate fee- As applicable
Documents	Extract, building plan & permission, estimate, search report, Copies of original purchase deeds/extract etc. In case of salaried customers salary slip, IT returns with computation of income. Two guarantor (property holders, Income proof) In case of self employed last three years profit & loss A/c, balance sheet & IT returns. Photographs, identity proof, age proof, photo proof, residence proof of borrower & guarantor.(as per KYC norms)