Our Mortgage Plus Scheme (Revolving Overdraft Type) & Mortgage Loan Scheme (Term Loan Type) aims at providing personal credit facility in order to meet personal/business financial needs.
Features :
- To employees, professional, self-employed, Businessman and others
- Loan up Rs. 1100.00 lacs (Out of which Rs. 100.00 lacs under Revolving Overdraft limit and Rs. 1000.00 lacs under Term Based Loan)
- Revolving overdraft or Term Loan based Loan.
- For any Legitimate purpose.
- Competitive Interest Rate.
- Easy and Quick Processing.
Terms and Condition :
- Collateral Margin of 33.33% of Distress Value of the property offered as Collateral Security and 50% of Fair Market Value of the property as per NRB’s guidelines.
- Monthly Interest/EMI (Equated Monthly Installment) should not exceed 50% of borrower’s gross income supported by tax receipts and bank’s statement.
- The properties offered as collateral should be accessible by public motorable road of at least 8 feet wide.
- Comprehensive Insurance policy covering market value of the building (in case of existence of building) to be submitted.
Repayment :
Mortgage Plus Scheme (Personal Overdraft)
- On demand, but for operational convenience, revolving running account facility subject to renewal once in a year. Interest to be served quarterly.
Mortgage Term Loan Scheme
- Equated Monthly Installment (EMI) based Term Loan for a maximum period of 300 Months.
Documents required :
- Application Form
- Statement of Bank Account for the last 12 months (if having account).
- 2 passport size photographs.
- A copy of citizenship certificate.
- National Identification Document.
- Copy of Financials for the last 3 years in case income is from business.
- Verifiable income documents supported with tax clearance/paid/filed certificate, where applicable.
- PAN, wherever applicable
- Original Lal Purja of the property.
- Original survey map (Blue Print).
- Latest Malpot (land revenue) payment receipt.
- Approved floor plan by municipality or other authority, where applicable.
- Construction completion in case of building.
- Others as advised by the Bank from time to time.
For detailed information, please visit your nearest Branch.
