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.
Persons having membership in the Bank, engaged in trade, commerce and business, Professionals, Self-employed, Prop. Firms, partnership firms, individuals with high net worth, salaried people, agriculturists etc.
The charges levied are forms, insurance, notice, legal fee, valuation charge and miscellaneous charges.
Up to 120 months
Maximum Rs. 50,00,000/-
Monthly instalment. Customers are free to repay part amount of loan and/or accrued interest thereon at any time. Interest is calculated on daily product basis on the amount of loan outstanding at the end of the day.