Mortgage Loan
Loan Against
Residential / Commercial Property
Minimum Loan
₹ 1.00 Lakh
Repayment
Up to 120 Months
Processing Fee
0.5% of Loan Amount
About This Scheme
This scheme provides loan facility against mortgage of property at low rate of interest. The scheme is for people engaged in trade, commerce & business and also professionals & self-employed, Proprietorship Firms, Partnership Firms, Companies and Individuals with high net worth including salaried people and staff members.
Purpose
Meet credit needs of trade, commercial activity, other general business & profession
Nomination facility available
Repairs / renovation / extension to residence or commercial property
Purchase / construction of house / flat, purchase of plot
Repayment of existing loans from other Banks / Financial Institutions
Marriage, medical or educational expenses of family members / near relatives
Pay debt or other dues including advance tax
Purchase of 2/4 wheeler vehicles, consumer durables
Pilgrimage / tours / excursions, etc.
Loan Quantum Calculation
Salaried Employees
48× monthly net take-home salary OR 4× net annual income (avg. last 2–3 yrs ITR)
Self-Employed / Professionals / Business
4× net annual income based on ITR (avg. last 2–3 yrs)
Proprietorship / Partnership / Company
4× cash accruals (PAT + Depreciation) from Audited Balance Sheet / P&L (avg. last 2–3 yrs)
Security
Equitable mortgage of legally acceptable title documents of non-encumbered residential / commercial / industrial / urban property in the name of the borrower / co-borrower, whether self-occupied, vacant, or let out. Third-party property security also accepted — the third person shall act as mortgagor guarantor.
Agricultural land is NOT accepted as security for this facility.
The value of property shall be assessed by an approved valuer of the Bank.
Eligibility
Salaried Persons & Staff
Professionals
Businessmen / Income Tax Payees
Trust, Firm, Partnership, Pvt./Ltd. Company
Max Age Limit
60 years (co-borrower if above 60)
Minimum Loan
₹ 1.00 Lakh
Margin
25% DLC / 25–40% Avg DLC+Market Value
Interest Rate
As per prevailing rate
Processing Fee
0.5% of loan amount
Repayment
Max 120 months (monthly EMI)
Disbursement
1 or 2 instalments as required
Personal Guarantee
Third-party personal guarantee of 2 persons with good credentials and adequate net worth is required.
About This Scheme
This scheme provides overdraft (O.D.) facility against mortgage of property at low rate of interest. Designed for people engaged in trade, commerce & business, professionals & self-employed, Proprietorship Firms, Partnership Firms, Companies, and Individuals with high net worth.
Loan Quantum Calculation
Salaried Employees
48× monthly net take-home salary OR 4× net annual income (avg. last 2–3 yrs ITR)
Self-Employed / Professionals / Business
4× net annual income based on ITR (avg. last 2–3 yrs)
Proprietorship / Partnership / Company
4× cash accruals (PAT + Depreciation) from Audited Balance Sheet / P&L (avg. last 2–3 yrs)
Security
Equitable mortgage of legally acceptable title documents of non-encumbered residential / urban / commercial / industrial property in the name of the borrower / co-borrower. Third-party property also accepted — third person shall be mortgagor guarantor.
Agricultural land is NOT accepted as security.
Repayment Terms
O.D. Limit will be reduced on a yearly basis so the limit is fully paid by the final repayment date. Renewal required every 3 years from sanction.
If O.D. / C.C. Limit is not reduced yearly, renewal is required every year.
Eligibility
Salaried Persons & Staff
Professionals
Businessmen / Income Tax Payees
Trust, Firm, Partnership, Pvt./Ltd. Company
Minimum Limit
₹ 1.00 Lakh
Maximum Limit
As per Bank Exposure
Margin
25% DLC / 25–40% Avg DLC+Market Value
Interest Rate
Monthly basis (CC/Hyp rate)
Limit Renewal
Every 3 years (or yearly if not reducing)
Personal Guarantee
Third-party guarantee of 2 persons with good credentials is required.
About This Scheme
This scheme provides working capital Hypothecation limit facility against hypothecation of stock at low rate of interest. Designed for people engaged in trade, commerce & business, professionals & self-employed, Proprietorship Firms, Partnership Firms, Companies, and Individuals with high net worth.
Loan Quantum Calculation
Individuals / Salaried
4× net annual income with other rental income (avg. ITR last 2–3 yrs)
Self-Employed / Professionals / Business
4× net annual income based on ITR (avg. last 2–3 yrs)
Proprietorship / Partnership / Company
4× cash accruals (PAT + Depreciation) from Audited Balance Sheet / P&L (avg. last 2–3 yrs)
Eligibility
Businessmen / Income Tax Payees
Professionals
Trust, Firm, Partnership, Pvt./Ltd. Company
Minimum Limit
₹ 1.00 Lakh
Maximum Limit
As per Bank Exposure
Margin
25% DLC / 25–40% Avg + 25% Stock Hypo.
Interest Rate
Monthly basis (prevailing rate)
Limit Renewal
Every year
Processing Fee
0.50% of limit (at renewal)
Personal Guarantee
Third-party guarantee of 2 persons with adequate net worth is required.
About This Scheme
This scheme provides working capital Hypothecation limit / Loan facility against hypothecation of stock at low rate of interest. Designed for people engaged in small trade, business, professionals & self-employed, Proprietorship Firms, Partnership Firms, and Individuals with small net worth.
Repayment Terms
C.C. Limit:
12 months — requires renewal every year.
In case of Loan:
60 monthly instalments with interest.
Loan Details
₹ 0.25 Lakh
Minimum Loan
₹ 1.00 Lakh
Maximum Loan
Target
Small Trade / Business
Margin
25–40% of average stock value
Interest Rate
Prevailing rate (monthly)
C.C. Limit Period
12 months (annual renewal)
Loan Repayment
60 monthly EMIs
Processing Fee
0.5% of loan / limit amount
Personal Guarantee
Third-party guarantee of 2 persons in addition to primary Hypothecation of Stock security is required.