Mortgage Loan Loan Against Property


Your property can help you fulfil your personal as well business needs. Mortgage your immovable property with us and enjoy comfortable EMIs with long tenure.

Purpose & Eligibility

  • Purpose:
    • To meet personal expenses like marriage, medical treatment, tourism, purchase of consumer durables etc.
    • Repayment of existing loans / debts
    • House repairing / renovation / extension of residential or commercial property
    • To meet credit needs of trade / commercial or business activity
    • Any other purpose acceptable to bank
  • Eligibility :

      Salaried Individuals :

    • Min age of the applicant: 22 years
    • Max age of the applicant (At loan Maturity): 70 yrs or retirement age, whichever is earlier (subject to submission of proof for continuity of income)

      Non Salaried Individuals :

    • Min age of the applicant: 25 years
    • Max age of the applicant (At loan Maturity): 65 yrs or retirement age, whichever is earlier (subject to submission of proof for continuity of income).

Quantum & Tenure

  • Quantum :
    • Minimum : ₹ 2 lakh
    • Maximum : ₹ 35 lakh (may be exceeded up to ₹ 100 lakh in case of Term Loans only)
  • Tenure :
    • In case of Term Loan : (Repayable in Equated Monthly Installments (EMI) commencing from one month after the date of first disbursement)
    • In case of Overdraft Facility : 1 Year subject to annual review (Branch to ensure use of limit for business current Assets / Working Capital of the Borrower. No operations through other bank’s account is allowed)
    • Note : Option to discontinue the facility at any time lies with the bank unconditionally.


Documentation & Security

  • Basic Documents :
    • In case of new customer, applicant & guarantors need to open savings / current account
    • Duly signed loan agreement
    • Details of existing on-going loan availed from banks / financial institution
    • Copy of Bank deposits / Life Insurance Policies / Other Investments (if any)
  • KYC documentation
    • Proof of identity
    • Address proof of applicant
    • 3 Passport sized photographs
  • Application Form
    • Duly filled & signed loan application form
  • Bank Statement
    • Bank statement for last one year
  • For Salaried individuals :
    • Last 3 months’ – salary slips
    • Form 16 or Income Tax Return
  • If an applicant Is a self-employed individuals :
    • Income tax returns of last 3 years, 26 AS from traces
    • Financial statements including balance sheet, profit & loss account and computation of income for last 3 years
    • Licenses / permissions from competent authorities

    • Equitable/Regd. Mortgage Charge over Property in the name of the Borrower or close family member with his guarantee.
    • Note :
      • The property offered may be either residential or commercial.
      • The property may be self-occupied or freehold. (In case of leased out property undertaking to be obtained from lessee to handover peaceful possession, if required by Bank)
      • Agricultural Land is not acceptable as security.
      • Open Plot/Land is not acceptable as security.
      • Property situated in Grampanchayat area should have necessary permissions from the competent authority like ADTP.

      Note : All original title deeds of the property need to be submit, against which loan is proposed to be availed.

ROI & Important Terms :

  • ROI :
    • Please click here to know about latest ROI & Service Charges.

    • Applicant has to be a regular shareholder of the bank. The guarantors have to be either a regular member (shareholder) or a nominal member (in case of loan amount up to ₹ one lakh) of bank.
    • Standing Instruction (SI) Request / ECS or NACH instructions / Post Dated Cheques (PDC) to be submitted to the bank as per requirement.
    • Search report and title clearance report for the property to be obtained from bank’s panel advocate. Professional fees / charges for the same to be borne by the applicant, after getting in-principle sanction from the bank.
    • Valuation of the property is to be carried out by bank’s panel valuer. Professional fees / charges for the same to be borne by the applicant even if the loan proposal is not sanctioned by the bank.
    • Insurance premium for mortgaged property for the full tenure of the loan to be borne by the applicant.
    • All conditions stipulated in the advocate’s title clearance report are to be fulfilled before consideration of the loan proposal.
    • Inspection of the property / site will be carried out by bank officials. Applicant has to make necessary arrangements for this.
    • Formalities regarding recording bank’s charge on the property by the builder / co-operative housing society and transfer of share certificate in the name of the applicant / borrower by the co-operative housing society, are to be completed as early as possible. The applicant / borrower has to ensure and take active responsibilities for this.
    • Before disbursement, applicant has to provide margin money and necessary amount to meet all the expenses (as mentioned above & as per service charges). Adequate amount for the purpose is to be deposited in the bank account in advance.