Type of Customer Individuals:
Limits of Loans: Maximum Rs. 10.00 lacs for TL depending on the repaying capacity and existing banking relations.
Income Linkage: Income proof is required but linkage to amount of advance shall not be insisted on .
Basis of Advance/ Eligibility: 65%-70% of valuation. Valuation should be done by banks approved valuer.
Repayment Period: Maximum repayment period is 12 months in case of Bullet repayment if loan amount is less than Rs. 2.00 lacs.
In other cases (EMI), maximum period 12 months.
Processing Fees:
Shareholding: Regular Membership/Nominal Membership upto Rs. 10.00 lacs
Documentation: 6 months bank statement required/salary certificate
Nature of account: Existing Banking relation are not necessary . However customer is required to open and operate Savings/Current Account.
Disbursement of Loan: Loan shall be disbursed on the same day of Valuation.