Purpose
All personal needs and not for speculative, real estate capital market activities or any activity prohibited by law.
Eligibility
Minimum Age - 21 years.
A. Term Loan:
Maximum 75 years of age at end of tenure of loan.
B.Over-draft limit:
(Applicable for Review/Renewal with reducing balance of existing limit only)
Income:
Minimum Gross Annual Income should be Rs. 2.00 Lakh
Nature of facility:
Term Loan only
No fresh Overdraft Facility to be allowed, only review/renewal/with reducing balance of existing account is permitted.
Rate of Interest:
Term Loan:
RBLR+CRP(2.80/2.90)=12.20/12.25% at present
Over Draft: Existing OD Renewal with reducing balance:
RBLR+CRP(4.85/4.90)=14.20/14.25% at present
Quantum of Finance:
Property located in Rural / Semi urban areas
Minimum Rs.1.00Lakh and Maximum Rs.50.00 Lakh
Property located at District headquarters in Semi urban areas
Minimum Rs.1.00 Lakh and Maximum Rs.200.00 Lakh
Property located in Urban and Metro area and all Semi Urban Branches in the State of Goa
Minimum Rs.1.00 Lakh and Maximum Rs.500.00 Lakh
Security:
EM/Registered mortgage of non-encumbered residential house /flat, commercial or industrial property situated in metro/urban / semi urban/ rural centres where title deeds can be mortgaged for purposes other than agriculture, in the ownership and possession of principal borrower either self-occupied or vacant or partially leased out/rented out.
Processing Fees:
For Term Loan: 0.75% of sanctioned loan amount + GST, Maximum Rs.1.00 lakh.
For OD: 0.50% + GST, Maximum Rs.5000/
Documentation Charges:
For loan up to Rs.50.00 lakh – Rs.2500/- For Loans above Rs.50.00 lakh – Rs.5000/