| Who can Borrow | Individuals (singly/Jointly) |
|---|---|
| Purpose | Purchase of Site, House, Construction House,on Ownership Basis. |
| Limit | Max. Limit Rs.75.00 Lakh for individual Site Purchase. Max. Limit Rs.140.00 Lakh for individual House Purchase & Construction |
| Security | Mortgage of Residential/commercial premises to be purchased/constructed Against residential/commercial property up to Rs. 1.40 crore. (Bangalore Urban and Rural District & Bidadi Hobli )for individual |
| Margin | For A Khata Property 90% 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 Lakhc For House Construction 75% On Estimated Value |
| Repayment Period | Up to Rs.25.00 Lakh 180 months Above Rs.25.00 Lakh 240 Months |
| Processing Fees | Minimum Rs. 2,500/- + GST (up to Loan Rs.5.00 Lakh )or 0.50 % + GST Whichever is High as applicable from time to time. |
| Legal & Documentation Charges | Inclusive in Processing Fees |
| Share Linking | 2.5% On Loan Amount + Share Fees Rs.10/- per Share |
| Prerequisites | 1. At least 21 years of age Individuals employed/engaged in business/Professionals having a fair repaying capacity to justify servicing of monthly installments. 2. Income Tax Returns/Income proof for the last three years along with computation of income. 3. Copies of the relevant documents of the property to be purchased / constructed. 4. Add income from family member as Co-applicant 5. KYC document. |
| Required Document For BDA/BMRDA Property | 1) Allotment Letter. 2) Possession certificate. 3) Sale Deed. 4) Manual & E-Khata. 5) Tax Paid Receipts. 6) Encumbrance Certificate. 7) Sanctioned Plan and Estimation for Construction Loan. 8) Income Proof (Salary, Rental agreement, Financial statement for Institutions). 9) Family Tree. 10) Consent from Family Members. 11) 3 Months Bank Statements. 12) 3 years IT Returns. 13) Approved Layout Plan,Conversion Order,Site Release order for BMRDA Sites. 14) Discharge deed (If loans from other banks have been previously closed). 15) Income and Property affidavit in stamp paper. |
| Required Document For GBA (BBMP) A & B Khata Property | 1) Mother Deed. 2) Sale Deed. 3) Manual & E-Khata Certificate along with Extract. 4) Tax Paid Receipts. 5) Encumbrance Certificate. 6) Income Proof. 7) Family Tree. 8) Consent from Family Members. 9) 3 Months Bank Statements. 10)3 years IT Returns. 11) Sanctioned Plan and Estimation for Construction Loan. 12) RTC & Mutation. 13) Discharge deed (If loans from other banks have been previously closed). 14) Income and Property affidavit in stamp paper. 15)Other Documents If any. |
| Normal Terms for Housing Loan (House Purchase and Construction) | 1) Maximum loan limit Rs.140.00 Lakh. 2) On the basis of property security. 3) Sanctioned plan. 4) 75% on Estimation value by Licensed Engineer. 5) For house repair purpose Rs.75.00 Lakh maximum loan limit |
| Normal Terms for Site Purchase Loan | 1) Maximum loan limit Rs.75.00 Lakh 2) 90% for A Khata on S R Value of property (BDA/GBA(BBMP)) 3) 75% for A Khata on S R Value of property (BMRDA) 4) Purchased property to be mortgaged to our bank 5) 3 years IT Returns |
| * Terms and Conditions are applicable. |