LOAN FOR PURCHASE OF COMMERCIAL SHOP
RATE OF INTEREST : 10% p.a.
FEATURES
- A maximum of 75% of the cost of property to be purchased can be sanctioned.
- To be repaid in maximum 180 installments and EMI should not be more than 50% of monthly income of borrower.
- Property should be insured against all risks in joint names of banks and the borrower.
- Loan amount to be paid direct to seller at the time of registration of property.
DOCUMENTS REQUIRED
- To be secured by registered mortgage of property and personal sureties of members.
- Valuation of property from Govt. approved valuer.
- Legal report of the property from bank`s advocate.
- Sale agreement.
- Income proof, ITR’s, residence proof, photographs of borrower and sureties.
NOTE: RATE OF INTEREST GIVEN ABOVE ARE SUBJECT TO CHANGE