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Double Plus
 
Who can Borrow   Individuals (singly/Jointly) except stock/share broker/s.
Applicant who have availed Housing / Loan for purchase of Commercials premises (i.e. in line with our SVC office Mortgage Loans) with our bank or any other bank, NBFC & repayment in these accounts are regular for minimum period of 2 years.
Limit   Maximum overall limit on residential flat (housing) together with additional limit not to exceed Rs.70.00 Lac.
                                                                &
Maximum over all limit including additional on commercial property i.e. SVC Office Mortgage not to exceed Rs.200.00 Lac
Purpose For any legitimate purpose but not for speculative activities.
Security Extension of / equitable / registered mortgage as the case may be over existing immovable security (residential or commercial).
Margin Minimum stipulated security margin after sanction will be 35 % -- On the fair ‘Market Valuation’ of the immovable security.
Repayment Schedule / Tenure Maximum 120 months such that mortgage loan co-terminating with the Home Loan or lesser.
(i. e. the existing housing loan will continue for the remaining tenure or will be taken over for the residual period. And the tenure of additional mortgage loan should not exceed the due date of housing loan / svc office mortgage loan for which the immovable security is primary security)
Cost
  • Loan Processing charges - @0.50% + Service Tax (as applicable) for Double plus loan & 0.65% + Service Tax ( as applicable) for Housing Loans ( in case of take over)
  • Valuation, Documentation & legal charges: on actual basis.
  • Share Linkage – NIL for existing customers & for new they should become member of the bank.
Prerequisites
  1. Application form & latest photographs.
  2. Latest income papers.
  3. Latest KYC documents.
  4. Latest Valuation report from bank’s approved valuer.
  5. Repayment in the existing loan accounts should be regular.
  6. Copy of sanction letter and loan statement since beginning to be obtained
  7. Documentary proof to confirm the end use of bank finance, depending on the purpose of applied loan.
  8. Total percentage deduction to gross incomes (including EMIs of proposed loan) not to exceed 60% in case of salaried & 67% in case of business personsli>

*Conditions Apply

 
 
 
 
Monthly Payment EMI:

Rs.
* Conditions Apply
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