This scheme provides loan facility against mortgage of property at the rate of interest fixed by the Bank. The scheme is for people engaged in trade, commerce & business and also professionals & self employed, Prop. Firm, partnership firms, companies, NRIs and individuals with sufficient repaying capacity including salaried people and agriculturists. The product provides an opportunity to customers to borrow against a fixed asset (mortgage of property) at a short notice without much paper work/attendant hassles.

• Purpose
• • To meet credit needs of Trade / Industry / Business / self employment
  • Building / House- purchase / construction /addition / repair
  • Purchase of land / property / Real estate business
  • Vehicle purchase / repair
  • Marriage of daughter / son / self
  • Activities allied to Agriculture
  • Purchase of house hold articles / Consumables
• Eligibility
• • Individuals
  • Trust
  • Private Limited Company
  • Educational Institutions
  • Hospitals
  • Small scale industries
  • Small Business
  • Whole sale traders
  • Retail merchants
  • Contractors
  • Registered firms / institutions carrying on trade or commerce, service centers
  • [Principal borrower & co-borrower should be “A” class member]
• Procedure
• • Submit application with necessary documents.
  • After verification the Branch will submit the application to HO with their recommendation.
  • After getting legal opinion HO will sanction the loan and issue orders.
• Charges and other costs
• The charges levied are forms, insurance, notice, legal fee, valuation charge and miscellaneous charges. Please visit the page of service charges in this site in this site
• Period
• From 61 months to 120 months
• Eligible amount
• • Maximum Rs. 50,00,000/-
  • Percentage of share linking is 2.5 %
• Repayment
• • Monthly instalment.
  • Customers are free to repay part amount of loan and/or accrued interest thereon at anytime. Interest is calculated on daily product basis on the amount of loan outstanding at the end of the day.
• Rate of interest
• To see the interest rate please visit the page of Interest rate in this site. The overdue penal charge is 2%