Immovable Property Loan
| Particulars | Individuals (singly/Jointly) |
|---|---|
| Who can Borrow | Individuals (singly/Jointly) |
| Purpose | Purchase of Flat, Construction House, Bungalows and Apartment on Ownership Basis. |
| Limit | Max. Limit Rs.70.00 lacs for individual house. For commercial building/real estate purpose etc., it depends on valuation and project report as applicable. Up to 5 lakhs for repair/alteration. |
| Security | Mortgage of Residential/commercial premises to be purchased/constructed |
| Margin | Valuation of property according government rates and Bank’s engineer valuation |
| Repayment Period | Max 240 months |
| Processing Fees | 1% + GST as applicable from time to time |
| Legal & Documentation Charges | On Actual Basis |
| Prerequisites |
1. Atleast 21 years of age Individuals employed/engaged in business/Professionals having a fair repaying capacity to justify servicing of monthly installments. 2. Income Tax Returns/Income proof for the last three years along with computation of income. 3. Copies of the relevant documents of the property to be purchased / constructed. 4. Add income from family member. |
| Required Document |
1) Allotment Letter. 2) Possession certificate. 3) Sale Deed. 4) Khata. 5) Tax Paid Receipts. 6) Encumbrance Certificate. 7) Income Proof. 8) Family Tree. 9) 6 Months Bank Statements. 10) 3 years IT Returns. |
| Required Document For BDA/KHB Property |
1) Mother Deed. 2) Sale Deed. 3) Khata Certificate along with Extract. 4) Tax Paid Receipts. 5) Income Proof. 6) Family Tree. 7) 3 years IT Returns. 8) Sanctioned Plan and Estimation for Construction Loan. |
| Required Document For House Purchase Loan |
1) Duration 240 Months for House Construction and House Purchase. 2) Maximum loan limit Rs. 70 Lakhs. 3) 85% on S.R Value of property. 4) Purchased property to be mortgaged to our bank. 5) Rs.150000/- per square & 85% of security value W.E.L. 6) For house repair purpose Rs.5 lakhs maximum loan limit. |
Sree Thyagaraja Co-operative Bank Limited, a leading Urban Co operative Bank in India.