Home Loan

Housing Loan is available for construction/purchase of old/new flat, bungalow, row house, and also for carrying out addition/alteration in the existing residential house.

Applicant Details

• 5 Photographs of Applicant.
• Applicant must be a Regular Member/Nominal Member.
• Photo Proof – Driving License/Election Card/Passport/Aadhaar Card.
• Copy of PAN Card and Aadhaar Card.
• Address Proof – Electricity Bill/Telephone Bill (Last 3 Months).
• Applicant I.T. Return (Last 3 Years)/Salary Slip (Last 6 Months)/Form-16.
• Allotment Letter / Possession Letter (Original).
• Original Share Certificate.
• Revenue Record of 7/12 Utara.
• Authorized Plan of Building/Society.
• Copy of receipt of advance payment made / Copy of Agreement to Sale.
• Copy of Title Clearance Certificate given by the advocate/solicitor.
• Applicant has to show all original documents to the bank for verification with Xerox copies.

Guarantor Details

• 3 Photographs of Guarantor.
• Guarantor must be a Regular Member/Nominal Member.
• Photo Proof – Driving License/Election Card/Passport/Aadhaar Card.
• Address Proof – Electricity Bill/Telephone Bill (any one).
• Copy of PAN Card.
• Latest Tax Bill / Certificate from society chairman/secretary if applicant owns property.

Terms & Conditions

• Original documents of property to be submitted to the bank. Registered mortgage of property to be done in favour of the bank. Bank charge will be noted in society’s book.
• Valuation of the property is required for old property. Bank will give loan of 50% of valuation amount (for old property) and 75% for new property.
• Bank will give loan if property has N.A./N.O.C and necessary permissions from various authorities.
• Applicant will have to take insurance of the building in favour of the bank.
• Applicant has to submit original share certificate of the Society/Association, Municipal/Grampanchayat Tax bill, Tax receipt, Sales deed etc., for registered mortgage of the property.
• Housing Loan repayment in maximum 60/72/84/96/120 months with EMI.
• Interest will be debited on monthly basis.
• Search and Title Report and valuation report will be done by approved lawyer and valuator of the bank. Applicant has to pay their fees.
• Processing charges applicable as per bank rules.
• Applicant can open a Savings Account in our bank.
• Stamp charges applicable as per Govt. of Maharashtra Stamp Department.