| Documents required: As applicable to security offered |
- Title deeds
- Mother deed
- Rtc (15 years)
- (15 years) encumbrance certificate
- Khata certificate / khata extract
- Tax paid receipt (current year)
- Legal opinion ( our advocate)
- Valuation report
- Sale agreement copy
- Id proof and address proof/pan card/dl/aadhaar card/ration card/voter id.
In case of business
- Firm registration certificate
- Firm bank account statement for last 6 months attested
- Cheque leaves
- 4 photos
- Firm id proof /address proof(telephone bill/keb bill)
- It return 3 years and form 16
- Vendor list
- Property photo
- Recent cibil report
- Guarantor/s.cheque leaves/ id proof
- and address proof/pan card/dl/aadhaar card/ration card/voter id/ photos,
If case of proprietorship/Partnership- Copy of MOE
Processing charge/mortgage deed writer fees/mortgage deed registration fess/personal insurance/valuator fees
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| Mortgage type |
If a property is allotted by BDA, Corporation, Housing Board, Industrial Board, or a housing society wherein the sites are leased by the BDA and if the applicant possess all the original documents regarding title to the property, such properties can be mortgaged to the bank by way of equitable mortgage by deposit of title deeds shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Society charge recorded in the books of Sub Registrar. |
| Terms & Condition |
- The applicant should be a Share Holder and maintain a S.B. A/c., C. A/c. with the Society.
- The application form should be fully and clearly filled with all details, complete in all respects, along with Membership Credit Card (M.C.C./A.C.C.) should be submitted.
- The applicant should hold property to be mortgaged in his name/spouse name without any encumbrance.
- Salary Certificate/Salary Slips/Income Tax Assessment Order of both Applicant and the Guarantors along with all the necessary documents in original as mentioned overleaf should be produced.
- Commitment Charges at 1% (Non refundable) of the applied amount should be paid on submitting the application.
- After sanction of the Loan, the applicant should get mortgage deed registered at his cost execute other documents along with the Guarantor/Surety and also produce the latest encumbrance certificate.
- The property will be valued by our valuers on the basis of details furnished to the Society .
- The loan amount will be disbursed in different stages depending upon the progress of construction.
- The Borrower should hold 2.5% of his borrowings as Share Capital. In case of insufficiency in share amount. The borrower should make-up the difference before release of the loan amount.
- In case of persons with little or no income, joint undertaking by the spouse and children having regular ascertainable income should be furnished. In addition, guarantee of another acceptable surety/sureties will be needed.
- Normally 150 equal monthly installments will be allowed for the repayment of entire loan together with interest every month at the rate as per R.B.I. directives issued from time to time. Repayment will start from succeeding months irrespective of the date of drawing the entire loan. In case of construction of houses the repayment of installment may commence from the 7th Month, but the entire loan amount is to be repaid within the available 150 installments. However, the interest is to be paid every month regularly from the month succeeding the receipt of 1st installment of loan.
- A penal interest of 2% on overdue installments will be charged in case of irregular repayments.
- A borrower availing the loan shall be deemed to have read, understood and agreed to the prevalent terms and conditions governing the loan.
- The Society reserves the right to sanction the loan applied in full, or reduce the amount or refuse to sanction without assigning any reason. Repaying capacity of the borrower, purpose of the loan and the value of security, will be taken into consideration while sanctioning the loan.
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| 7 Documents in original along with one set of xerox copies to be produced
Along with application |
- Original Title Deeds establishing the ownership of the property.
- Parental/Link Documents.
- 15 years Encumbrance Certificate in general and more than 30 years in specified cases prior to the date of Application.
- Katha Endorsement Certificate.
- Approved Building Plan.
- Up-to-date Tax Paid Receipts.
- Possession Certificate, Sale Deed, and Alienation Certificate in case of property acquired from BDA, CITB or from any other Local Bodies.
- Affidavit from the major son or sons and unmarried daughters on appropriate amount of stamp paper (Specimen available in the Society ) when necessary.
- A power of Attorney sworn before a Magistrate executed on stamp paper, from the Major sons major unmarried daughters of the applicant, in case of properties proposed to be mortgaged are ancestral (specimen available in the Society ).
- Affidavit from brother or brothers stating that he has no objection for borrowing money on property under reference on stamp paper, in case of joint family property (specimen available in the Society ).
- Family members should give Guarantee.
- Salary Slip/Certificate/Income Tax, Sales Tax Assessment order of both applicant and guarantor.
- Latest Encumbrance Certificate after registration along with the Registered Deed.
- The Original Documents pertaining to the property, handed over to the Society shall remain with the Society Until the loan amount is repaid in full.
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