BANGALORE
Call on us : 080-23151204
Fax : 080-23152073
IFSC CODE : HDFC0CRCBLB
Secured Loan
For the purpose of industry, Profession, Business term loan shall be granted for purchase of new equipment upto 75% of its value to a maximum of 50 lakhs with collateral security for aggregate loan above Rs.1.00 lakh. The loan shall be repayable within 120 EMI.
Purchase of House/Takeover of Housing Loan/Plant and Machinery Loans
Eligibility |
Member/Associate Member of the Bank |
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Area of Operation |
Bangalore Urban and Bangalore Rural District and Bidadi Hobli (whether to specify area which will be covered - MAP) |
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Number of sureties required |
Spouse of the applicant and the co-obligation/surety of one or more members of the family may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family members to arrive at repaying capacity. Co-obligant/surety’s should be member/ associate member. Otherwise they can become nominal member by payment of nominal membership fee of Rs.100/-. |
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Documents required: As applicable to security offered |
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Maximum limit |
Rs.1 Crore |
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Margin |
Not less than 25% of value as assessed by the Bank’s valuer |
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EMI |
Monthly reducing on balance converted to EMI |
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Maximum Repayment Period |
240 Months including moratorium period. |
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Moratorium period |
Maximum of 6 months |
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Income Proof |
Latest Salary Slip and Form – 16 issued by employer |
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Mortgage type |
The mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar. |
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Release of loan |
Disbursement of loan shall be made directly to the Vendor. |
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Interest rate |
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The Rate of Interest will be charged at monthly intervals. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
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Charges |
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Share link: |
Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
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Insurance |
mortgaged property will be insured against fire and other risks and the premium amount will be debited to the borrowers loan account Such fire policy shall be with Bank clause and renewed every year. |
House Construction (individuals)
Eligibility |
Member/Associate Member of the Bank |
Area of Operation |
Bangalore Urban and Bangalore Rural District and Bidadi Hobli (whether to specify area which will be covered - MAP) |
Number of sureties required |
Spouse of the applicant and the co-obligation/surety of one or more members of the family may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family members to arrive at repaying capacity. Co-obligant/ surety’s should be member/ associate member. Otherwise they can become nominal member by payment of nominal membership fee of Rs.100/-. |
Documents required: As applicable to security offered |
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Maximum Limit |
Rs.75.00 lakhs |
Margin |
Not less than 25% of value as assessed by the Bank’s valuer + Cost of Construction. |
EMI |
monthly reducing balance (EMI for your required of loan ) |
Maximum Repayment Period |
240 Months including moratorium period. |
Moratorium period |
Moratorium Period: Maximum of 6 months |
Income Proof |
Latest Salary Slip and Form – 16 issued by employer |
Mortgage type |
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Release of loan |
Disbursement of loan shall be made in not exceeding six instalments in case of construction of house depending on the progress of construction after inspection of the construction spot (by the Branch Manager or any official authorised by the Branch Manager) by one of the officials before release of 2nd, 3rd and 4th instalment. |
Documents required substantiating the purpose of loan |
Sanctioned Plan by the Competent Authority, Estimate for Construction, Proof for Margin Money |
Interest rate and interest application frequency |
Rate of Int. 12.50 % |
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The Rate of Interest will be charged at monthly intervals. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
Charges |
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Share link |
Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
Insurance |
mortgaged property will be insured against fire and other risks and the premium amount will be debited to the borrowers loan account Such fire policy shall be with Bank clause and renewed every year. |
Release of loan |
Disbursement of loan shall be made in instalments depending on the requirement of Student. |
Loan On Gold Ornaments
Eligibility |
Member/Associate Member of the Bank and also Nominal Members by payment of nominal membership fee of Rs.100/-. |
Area of Operation |
Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP) |
Security |
Gold Ornaments |
Maximum limit |
Rs.5.00 lakhs (2 lakhs for nominal members ) |
Rate |
Rs.1800/- per gram |
Maximum Repayment Period |
24 Months above 1 lakhs, below 1 lakh 12 months |
Release of loan |
The proceeds of the loan amount shall be paid to the party’s SB/CA |
Interest rate and interest application frequency |
12.50%. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors. |
Service Charges |
0.20% upto 1 lakh, above 1 lakh 0.20%+0.10%(stamp duty) |
Vehicle Loans
Eligibility |
Member/Associate Member of the Bank |
Area of Operation |
Bangalore Urban and Bangalore Rural District and Bidadi Hobli |
Number of sureties required |
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Documents required: As applicable to security offered |
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Additional security |
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Maximum limit |
90% for 2 wheeler and 75% for 4 wheeler on Invoice value |
Margin |
10% of Value of the vehicle with collateral security. |
Instalments |
Monthly reducing balance (EMI for your required of loan refer EMI Calculator) |
Maximum Repayment Period |
40 months for 2 wheeler and 80 Months are 4 wheeler |
Income Proof |
Latest Salary Slip and Form – 16 issued by employer |
Charge on the Vehicle |
Vehicle should be hypothecated to the Bank |
Mortgage type for 4 wheelers only |
If a property is allotted by BDA, Corporation, Housing Board, Industrial Board, or a housing society wherein the sites are leased by the BDA and if the applicant possess all the original documents regarding title to the property, such properties can be mortgaged to the bank by way of equitable mortgage by deposit of title deeds (recorded in the books of theBank). |
Release of loan |
The proceeds of the loan amount shall be paid to the dealer of the vehicle from whom the borrower intends to purchase the vehicle, duly debiting the margin amount to the party’s SB/CA, getting a letter to this effect. |
Interest rate and interest application frequency |
13.00% |
Charges |
In case of collateral security of immovable property,
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Share link |
Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan. |
Insurance |
The vehicle should be comprehensively insured with Bank clause and borrower should arrange for renewal of insurance policy every year at his cost and produce the policy within the due date. In case the borrower fails to produce the insurance policy the bank shall arrange to get the insurance coverage for the vehicle by debiting the loan account. |