Non Housing Loans
Mortgage Loan (ML) / Loan against property (LAP)
Brief Terms & Conditions at a glance
Purpose of Loan
Who is eligible
All individuals who are salaried/professionals/businessmen/self-employed/NRI/Pensioners who have adequate repayment capacity
Quantum of loan
50% to 60% of the value of the security as per the valuation report given by the company's panel valuer and subject to repayment capacity and net take home.
Up to 10 years. In deserving cases up to 15 years depending upon case to case basis.
Interest rate applicable
Floating rate of interest applicable as given below:
In one lump sum.
Property mortgaged to be insured compulsorily.
Security for the loan
Equitable mortgage of the propertybeing financed.
Depends up on case to case basis.
As laid down in The State Stamp Act of the respective state government.
Note: For details regarding Processing charges, other charges and other Compliances, please contact your nearest branch.