Mortgage Loan

MORTGAGE LOAN OTHER THAN HOUSING

Eligibility
Any person with assured monthly Income acceptable to the Bank.
Purpose
Development of Dwelling House compound such as construction of Compound Wall, Sinking and repair of drinking water well etc.
Rate of interest

14.00%

Repayment Tenure
10 Years 
Suriety
Minimum one guarantor with sufficient net worth
Security
Mortgage of unencumbered immovable property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed
Margin
50% of the valuation of property or 75% of the estimate with ever is lower
Other Terms
Membership is necessary for the borrower and sureties to avail this loan.




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