Individuals / traders/ small businessmen with a proven track record
and having active and satisfactory dealings with the bank in the past
for at least one year.
Purpose of the Loan:
The loan may be granted for meeting business requirements or any
other genuine financial requirements of the applicant.
Permissible amount of the Loan:
1.The facility will be granted as a loan.
2.The maximum amount of loan will be Rs.20.00 Lakhs or 40% of the
realisable value of the immovable property whichever is less
Processing Fees at 1% of the loan amount to be charged. And no other
hidden charges as charged by other banks.
Security:
=>Unencumbered immovable property owned by the applicant
=>The applicant should process a clear title over the.immovable property offered as security
Repayment:
The loan to be repaid in 60 months in equated monthly instalments.
Insurance:
Insurance to be got effected over the immovable property held as
security at the cost of the applicant.
Disbursement:
Disbursement of the loan is made after ensuring proper end use of
the loan.
Conditions:
1. The Property must valued by the bank's approved valuer to know
the proper market value of the property given as security.
2.Non -Encumbrance certificate for the immovable property offered as
security.
3.An opinion from the Bank's advocate as to the possession of clear
marketable title over the property offered as security by the applicant
must given.
4.No advance under this scheme may be given against third parties
property.
5.Post dated cheque should be given for repayment of the loan
installment.
