Loan Against Property
Max. up to Rs. 5,00,000/-
Interest
- 15% p.a. (1.25% p.m.) Reducing Balance
Conditions
- Must be a Member of the Society.
- Share Money and Compulsory Deposit (CD) shall be Rs. 20,000/- each deposited into the account of the member.
- Member must have completed at least 6 months.
- 2 Guarantors (Guarantors shall be the existing member of the Society and should not be a defaulter)
Documents Required
- Photo Id Proof (Any like Voter ID Card, Aadhar Card, Pan Card etc.)
- Address Proof (Water/Electricity bill, Compulsory)
- Income Proof (3 years ITR, Salary Slip, Affidavit)
- 3 A/c Payee Cheques (CTS Cheques)
- 2 Latest Passport Size Photo.
- Original documents of the Registered Property Papers to be mortgage.
Loan Tenure & Charges
- Loan Tenure will be max. of 60months (5 year)
- Non-payment of the instalment on Due date will incur 3% penalty interest extra to the member.
- Processing Charges shall be applicable.