Mortgage Loans

LOANS AND LIMITS AGAINST IMMOVABLE PROPERTIES

Mortagage Loans , Overdraft against other securities, Mortagage Loans and rent securitisation scheme.

ELIGIBILITY

• Individuals / Proprietary / Partnership Firms and joint stock companies are eligible under the scheme.

SECURITY

• Primary :
• Immovable property other than agriculture land.
• Future rent receivables.
• Collateral:
• Personal Guarantee of third party and / or owners of properties offered as security

MARGIN

• On Purchase / Construction of Open Plot / Commercial Property – 25% to 50%
• On Sale consideration OR Distress Value of the property - 30% to 50%
• On rent receivables – 10% to 20%

RATE OF INTEREST

• Different rates upto 10 lacs and above 10 Lacs.

PURPOSE

• Under rent securitisation scheme
• For Business Development
• Other purposes.

AMOUNT OF FACILITY

• Minimum 0.50 lacs, Maximum depending up on the scheme and constitution of the applicant as under:
• Individuals / Proprietary Firms Rs 1000 lacs
• Partnership firms , Trusts, Societies – Rs. 1000 Lacs
• Public / Private Limited Companies – Rs. 1500 Lacs

REPAYMENT / VALIDITY PERIOD:

• Limit 12 months
• Loan maximum 120 Months including moratorium period.