Lodge a Complaint
+91 9246838350
This scheme provides loan / overdraft facility against mortgage of property to meet financial needs of the people. The scheme is for people engaged in trade, commerce and business and also Professionals and self employed proprietary firm, partnership firm, companies etc and individuals with high net worth including salaried people. The product provides an opportunity to customers to borrow against mortgage of property to meet the credit needs of trade, business, marriage, medical, education, repairs, renovation, extension to residence / commercial property, purchase of property, pilgrimage, tours etc.
Eligibility | Individuals, Firms and Associations with GST Registration |
---|---|
Type of Facility | C C for short term needs & T L for Long term purposes |
Amount of Loan | 70%-75% based on past achievement / Projections |
Repayment | EMI |
Security | Land & Buildings without any encumbrance / Two Guarantors |
Rate of interest | 14.00% to 16.00% |
Documentation | Hypothecation agreement, Guarantee deed etc |
Sanctioning Authority | General Manager / CEO / Board |
Margin | Minimum 25% of the projected cost |