| Who can Borrow | Individuals (singly/Jointly)Firms/Companies/Associations/Small scale industries/Traders |
|---|---|
| Purpose | To offer instant solutions relating to business needs or for personal needs any other productive legitimate purpose & not for speculative activities. * Educational institutions / Development of Institution * Acquisition of assets * Undertake expansion, acquire business assets, renovation in business premises. * Working capital * Purchase of machinery |
| Security | Mortgage of immovable property (excluding Agricultural Land )GBA(BBMP) Limits, BDA /BMRDA Approved Layout Properties |
| Margin | As per Loan Policy |
| Loan Amount | *Against residential property up to Rs. 3.crore. (Bangalore Urban and Rural District & Bidadi Hobli) *For A Khata Property 100% on S.R Value (property valuation) *For B Khata Property 75% on S.R Value (property valuation) (Only GBA(BBMP) Limits Maximum Rs.40.00 Lakh. |
| Repayment Period | Up to Rs.25.00 Lakh 180 months Above Rs.25.00 Lakh 240 Months |
| Processing Charges | Minimum Rs.2,500/- + GST (up to Loan Rs. 5 Lakh ) or 0.50 % + GST Whichever is High as applicable from time to time. |
| Share Linking | 2.5% On Loan Amount + Share Fees Rs.10/- per Share |
| Legal & Documentation Charges | Inclusive in Processing Fees |
| Prerequisites | 1. Application form along with KYC documents & Income Proof. 2. Property to be mortgaged should be in the name of the borrower. Or their Family Members 3. Latest valuation report from bank’s approved valuer. 4. GST, MSME registration. 5. Three Years audited Balance sheet and Profit & Loss A/c (With Auditor Seal & Sign) 6. Three Years IT returns |
| Required Document | 1) Estimation for Loan Requisite value 2) Project report. 3) Firm registration copy. 4) GST copy. 5) Other Documents if any. |
| Terms and Conditions are applicable. |