Mortgage Loan

  • Sailent Features
  • Purpose
  • Eligibility
  • Loan Amount
  • Repayment
  • Security
  • Valuation of properties

Sailent Features

Sailent Features

  • Open plot shall not be considered
  • Loan amount should not be used for speculation purpose.
  • Property to be situated at Hobli, Taluka or Dist HQ

Purpose

Purpose

  • For meeting genuine needs like Marriage, Education & Hospital Expenses.

Eligibility

Eligibility

  • Salaried class, businessmen, professionals, and others with regular income which shall be ascertainable from income tax returns (income should be evidenced by 3 years Income Tax Assessment Orders i.e., ITAO).

Loan Amount

Loan Amount

  • 50 % of the Forced distress value of the property as assessed by Panel Valuer. Or
  • Maximum of Rs.500.00 lakhs, whichever is less (25% NTH for salaried /Non-salaried class with a minimum of Rs. 20,000/-pm)

Margin

Margin

  • Maximum of 40%

Repayment

Repayment

  • Maximum 120 months.

Security

Security

  • Collateral security of mortgage of House/commercial building.

Valuation of properties

Valuation of properties

  • Upto Rs.100.00 lakh – Property to be valued by One Panel Valuer.
  • More than Rs.100.00 lakh - Property to be valued by two Panel valuers.