Purpose:

• For house repair: estimation for house repair
• Business purpose: Business development  /site purchase

Eligibility

• Salaried employees/ Professionals/ Self-employed
• Loans can be applied by Individuals either solely or jointly
• Total deduction including deductions of LAP (installment & interest) to be meet from firm/company’s net cash accruals
• Repayment Period
• Upto 15 years (years at the discretion of the bank)

Security

• Mortgage of the property. The property to be mortgaged should be in the name of the applicant or his/her spouse or close relative as per Section 6 of the Companies Act 1956 or persons representing relationship such as Firm / Proprietor, Partnership / Partners, Company / Directors. The person / entity in whose name the property to be mortgaged to either co-borrower or guarantor.
• Two Surety required.

DOCUMENTS REQUIRED:

• Udyam registration Copy Licence copy /Licence copy Gst registration

Processing fees

• 1% service charges on Loan A/c +18% GST

Share holding

• 2.5% of loan amount