1. Beneficiary – Those who wants to construct House / Flat / Bungalow/purchase new
House / Flat or repairing of House / Flat.
2. Sanctioning Limit – One can avail this type of loan facility after fulfilling necessary
formalities and documents depends upon the income source, lien offered and
repaying capacity of the borrower at the prevailing rate of interest decided by the
Bank.
3. Criteria to avail Housing loan –
4. Borrower should be member / shareholder of the bank.
5. 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.
6. The 2.5% amount of the sanctioned loan is to be deducted as share amount and for
without security loan 5% amount of the sanctioned loan is to be deducted as share
amount.
7. Borrower should submit his photograph, residential proof, income proof, Property
tax receipt, financial statements etc.
8. Two shareholder along with their income proof, financial statement, photograph,
address proof etc. is required as guarantors for the said loan.
9. Borrower should give advance cheques to Bank for repayment purpose.
10. The repayment of loan is on EMI (Monthly Instalment) basis.
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