Mortgage Loan is extended against the mortgage of land and landed property for the purpose of house repairing, marriage purpose, Business Purpose, medical purpose or any other consumption purpose.
1. Maximum amount of Mortgage loan is Rs.8,00,000/-.
2. Maximum no. of installments for repayment of loan – 150 Nos.
3. Security – Land & Landed Property.
Criteria for availing of Mortgage Loan Facility:
1. Membership of the Bank.
2. Security - land and landed property that will be free from all encumbrance.
3. Original deed of the security ( land and landed property ).
4. Parcha, Dakhila.
5. Up-to-date tax clearance receipt.
6. Address proof & Identity proof of the applicant.
7. PAN Card & Aadhar Card.
8. Passport size photograph of Applicant.
9. Savings Deposit A/c of Applicant.
10. One no. of guarantor for loan up to Rs. 1,00,000/- and two nos. guarantors for loan above Rs.1,00,000/-.Only members of the bank can be guarantors of the loan.
11. Loan extends up to 50% of the value of security.
12. For House repairing purposes loan, estimate for Hose Repairing; marriage invitation Card in support of the proof of marriage, in case of loan for marriage purposes, for business purposes, the estimated cost for a particular purpose of the business will have to be submitted along with application form.
13. Type of mortgage of land & landed property: Registry mortgage.