Loans shall be sanctioned to the A Class members of the bank and the applicant should own the land or plot on which the construction is proposed
Application of Loan
Loan will be available for all purpose
Limit of Assistance
The loan amount for all purpose shall be fixed as a maximum amount of Rs.9 crore
Repayment/ Tenure of loan
Loan shall be repaid in equated monthly instalment spread over a maximum period of 10 years. Borrowers are free to remit more than one instalment or lumpsum at any time.
Advance is made against the mortgage of landed property as equitable mortgage or registration. Building shall be insured at the cost of the borrower and the insurance policy shall be assigned in favour of the bank.