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Eligibility |
Any person with assured monthly Income acceptable to the Bank. |
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Purpose |
Repair/ Renovation Furnishing of house, construction of compound wall / to meet marriage expenses of self or close relatives |
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Rate of interest |
13.50%* |
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Repayment Tenure |
Upto 10 Years |
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Surety |
Minimum one guarantor with sufficient net worth |
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Security |
Mortgage of unencumbered immovable property belonging to the applicant. |
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Margin |
Maximum permissible amount shall be 60% of the valuation of property or 75% of the estimate ,which ever is lower |
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Other Terms |
Membership is necessary for the borrower and sureties to avail this loan. |
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* Floating rate of interest |
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