Beneficiary – Those who wants to avail loan facility against their property.
Sanctioning Limit – One can avail this type of loan facility after fulfilling necessary
formalities and documents depends upon the income source and repaying capacity
of the borrower at the prevailing rate of interest decided by the Bank. The 70%
amount of the total valuation of the property will be sanctioned as loan.
Criteria to avail Ad.Ag. Immovable Property loan –
Borrower should be member / shareholder of the bank.
If anyone who is not shareholder of the Bank and wants to avail the loan, he has to
become shareholder by depositing Rs. 1000/- plus 100 entry fees and GST towards
membership.
The 2.5% amount of the sanctioned loan is to be deducted as share amount.
Borrower should submit his photograph, residential proof, income proof, financial
statements etc.
Two shareholder along with their income proof, financial statement, photograph,
address proof etc. is required as guarantors for the said loan.
Borrower should give advance cheques to Bank for repayment purpose.
The repayment of loan is on EMI (Monthly Instalment) basis.
Property will be mortgaged by executing registered document and lien will be
created on one property.
© All Right Reserved | Designed by: Colors Web