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Mortgage Loan

Mortgage Loan is available for immovable property, construction/purchase of old/ New flat, Bungalow, Row house, and also for carrying out addition/alteration in the existing immovable property.

 

Applicant details

  • 5 Photographs of Applicant
  • Applicant Must be of Regular Member/Nominal Member
  • Photo Proof – Driving License/Election Card/Passport/Aadhaar Card.
  • Copy of PAN Card
  • Address Proof – Electric Bill/Telephone Bill (Last 3 Months Old)
  • Applicant I.T. Return (Last 3 Years)/Salary Slip of Last 6 Months/Form-16.
  • Share Certificate (Original)
  • Revenue Record of 7/12 utara
  • Authorised Plan of Building /Society.
  • Copy of receipt of advanced payment made/copy of sale agreement.
  • Copy of the Title clearance certificate given by the advocate/solicitor.
  • The applicant has to show all original documents to the bank for verification with a Xerox copy.

 

Guarantor Details

  • Photograph-3 copies
  • The guarantor must be a Member of Regular Member/Nominal Member
  • Photo Proof – Driving License/Election Card/Passport/Aadhaar Card
  • Address proof – electric bill /telephone bill (any one)
  • Copy of PAN Card
  • Latest Tax bill /Certificate from the society chairman/Secretary if the applicant owns Property.

 

Conditions

  • Original documents of the property are to be submitted to the bank. Registered mortgage of the property to be done in favour of the bank. Bank charges will be noted in society’s book.
  • Valuation of the property will be required for the old property.
  • The bank will give a loan if the property has N.A.N.O.C. permission.
  • The applicant will have to take out insurance of the building in favour of the bank.
  • Applicant has to submit original share certificate of the Society/Association, Municipal Tax bill, Tax receipt, sales deed, etc, for registered mortgage of the property.
  • Housing Loan repayment in maximum 60/72/84/96/120 months with EMI.
  • Interest will be debited on a monthly basis.
  • Title clearance and valuation report will be done by an approved lawyer and valuator of the bank. Applicant has to pay their fees.
  • Processing charges are applicable as per the bank rules.
  • The applicant can open a Savings Account in our Bank.
  • Stamp charges are applicable as per the Government of Maharashtra Stamp Department.