Housing Loans (LT/MT) (Including Gharkul Scheme)
ST LOAN NON - AGRICULTURE SECTOR (HCC - PCC)
MT LOAN/ CCC To VKSS STY, FOR ONWARD LENDING OTHER THAN AGRICULTURE PURPOSE
HOUSING LOANS (LT/ MT) (INCLUDING GHARKUL SCHEME)
ADVANCE AGAINST GOLD ORNAMENTS
LOAN TO PURCHASE 2ND HAND VEHICLE/ MACHINER/ VESSEL
Eligible borrower :
- Individuals, HUF, partnership firm
Limit of Loan:
- Maximum limit is Rs.25.00 Lakh.
Purpose:
- Purchase of Flat, Completion of House, Alteration, Reconstruction, Extension
New Construction of House under Gharkul Scheme.
Security :
- Mortgage of House/Flat along with plot. Collateral security of deposits, LIC policies, NSCs, KVPs, vehicles, etc. may be obtained depending on the risk perspective.
Sureties :
- Two guarantor
Margin :
- Vary from 10% to 25% depending upon the nature of activities undertaken by Borrower.
Amount of Loan :
- Up to 75% of the project cost and subject to credit exposure limit/ RBI guidelines.
Rate of Interest:
SR NO LT/MT HOUSING UNDER PRIORITY (Through Salary deductions) for salary earners, Maximum EMI period of 20 Years or as per date of Retirement whichever is less (Including Gharkul Scheme, Purchase of Flat/ Completion of House. Alteration, reconstruction/ extension) REVISED RATE
A-1 PACS BORROWERS
a Upto Rs.10.00 Lakhs 9.00 %
b Over Rs. 10.00 Lakhs to Rs. 25.00 Lakhs 9.00 %
c Over Rs. 25. 00/- Lakhs 9.00 %
A-2 Salary Earners (No Salary Deduction) Max. EMI Period of 15 years (Including Gharkul Scheme ,Purchase of Flat/ Completion of house,Alteration,Recontruction & Extension
a Up to Rs. 10.00 Lakhs 8.00 %
b Over Rs. 10.00 Lakhs to Rs. 25.00 Lakhs 8.00 %
c Over Rs. 25.00/- Lakhs 8.00 %
A-3 For professionals/ Businessman & other Maximum EMI Period of 15 Years (including Gharkul Scheme, Purchase of Flat/ Completion of house, Alteration, Reconstruction & Extension)
a Up to Rs. 10.00 Lakhs 8.00 %
b Over Rs. 10.00 Lakhs to Rs. 25.00 Lakhs 8.00 %
c Over Rs. 25.00/- Lakhs 8.00 %
B HOUSE REPAIR UPTO RS. 2.50 LAKHS 11.00 %
Repayment Period :
- Maximum EMI through salary deduction period of 20 years or as per date of retirement whichever is less (including Gharkul scheme, Purchase of flat / completion of House, Alteration, Reconstruction, Extension) & (for No salary deduction & other professionals / businessman) Maximum EMI period is 15 years (including Gharkul scheme, Purchase of flat / completion of House, Alteration, Reconstruction, Extension)
Other requirements :
- Quotations/estimates, permission/ license/ approvals from competent authorities like Health Dept., Water/Electricity Dept., Municipality/Panchayat, etc. – wherever applicable, copies of approved plans form TCP, Construction License, Sale deed of land.
- Copies of B/S, P/L A/c, I.T. Returns for last 3 years.
Documentation :
- Photograph
- Proof of identity, Pan Card, Aadhar Card, Voters ID Card/ Passport
- Loan Application in the prescribed form.
- Joint & Several Demand Promissory Note.
- Agreement for loan.
- Mortgage deed, Memorandum of Deposit of Title deeds/Share Certificate issued by Co-operative Housing Society/NOC from Co-operative Housing Society to mortgage the flat/Title verification report from the bank approved legal advisor/Valuation Report/Up.
- To – date Nil Encumbrance Certificate/Hypothecation/Assignment of LIC Policies or any other tangible security acceptable to the Bank.
- Agreement for salary deduction u/s 45 of The Goa Co-op Societies Act 2001 if borrower/surety is/are salaried persons.
- The financed unit/securities should be comprehensively insured against all possible risks.
- Any other document depending on the purpose/security of the loan.
- Affidavit as specified by RBI.
- Irrevocable power of attorney in prescribed format.
- Details of Mortgaged Property and hypothecated assets shall be registered with CERSAI.
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