Takeover of housing loans from other Banks/Institutions
Eligibility
Salaried Employees confirmed in service /Businessmen/Professionals/ Agriculturist
Age of the person should not be more than 55 years.
Repayment Period
Maximum 20 years
Moratorium period available
Processing fees
1% service charges on Loan A/c +18% GST
Share holding
2.5% of loan amount
Quantum of Finance (in housing loan)
Minimum of land for house construction 3cents
75% of registered value of the property constructed house /Flat (stamp paper charges)
Incase of new house construction as per plan loan amount is calculated
75% of estimated value of construction approved by the TMC/Panchayath
Interest Calcualtion Method
Reduced Balance method
Fixed rate of Interest
Documentation
All Assigned documents related to property (E.khatha / 9& 11 of the property )
Plan & estimation Valuation of property .
Duly filled prescribed application form
Photo Identity & Residence proof of the Applicant & Guarantor
Income proof a)Salaried person : salary slips for last 3 months, ITR/Form 16 for last 3 years or b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.
Legal Documents for creating mortgage as per requirement
