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.
