Mortgage Loan

Mortgage Loan

Mortgage loans are available for any purpose on non agricultural property

Margin:

We will finance up to 60%-70% of the sub register value of your property.

Interest:

• Maximum amount Rs.60 Lakhs
• Rate of interest up to 10 lakh 13.% above 10 lakh 14%

MortgageS Loan Informations

Eligible:

• Must be a Member of the Co-operative and needs to have all the necessary property records for a mortgage loan.
• Mortgage Loan documents must be free from any legal disputes.
• The members availing a mortgage loan must have a yearly income for the loan amount.
• The Income Tax paid documents required for the three years.

Purpose:Simple mortgage for immovable property.

Sureties: Two sureties required from regular members of the society.

Shares: As applicable.

Other charges: As applicable.

Important enclosures for immovable property loan applications :

Applicants:-

• photo-2 No's
• Address Proof
• Income Tax , Business Income Proof / Salary certificate
• Office ID Card for salaried person
• Income Returns for preceding 3 years
• Last 6 Months Bank Statement

Xerox copies of pledged ( Property Documents ) :-

• Sale Deed in the Name of Applicant
• Mother Deeds
• Rectification Deeds ( If any )
• E.C. ( Last 30 Years )
• Up-to-Date Tax paid Receipts
• Latest Katha Certificate and Extract
• Sanctioned Building Plan, Layout Plan
• Estimation of construction of the Building
• Other Relevant Documents as per
• Legal Opinion
• Property of Valuation report

Surety:-

• photo-1 No's
• Address Proof and ID Proof
• Income Tax , Business Income Proof / Salary certificate
• Office ID Card for salaried person

Post Loan Sanction

• Deposit of Title Deed/ Mortgage Deed
• Necessary Original Documents ( property Documents)
• Indemnity Bond With Applicant's Family Members Signature
• Declaration Cum undertaking
• Loan Repayment Promissory Note
• Salary Recovery Authorization Letter ( In case of salaried person )
• Other Relevant Documents ( If any requirement by the co-operative/ Legal Advisor )