PURCHASE OF COMMERCIAL SHOP LOAN

LOAN FOR PURCHASE OF COMMERCIAL SHOP

RATE OF INTEREST : 10% p.a.

FEATURES

1. A maximum of 75% of the cost of property to be purchased can be sanctioned.
2. To be repaid in maximum 180 installments and EMI should not be more than 50% of monthly income of borrower.
3. Property should be insured against all risks in joint names of banks and the borrower.
4. Loan amount to be paid direct to seller at the time of registration of property.

DOCUMENTS REQUIRED

1. To be secured by registered mortgage of property and personal sureties of members.
2. Valuation of property from Govt. approved valuer.
3. Legal report of the property from bank`s advocate.
4. Sale agreement.
5. Income proof, ITR’s, residence proof, photographs of borrower and sureties.

NOTE: RATE OF INTEREST GIVEN ABOVE ARE SUBJECT TO CHANGE