Makan Machinery Loan
- Housing Loan upto Rs.70/lacs is available for construction/purchase of old/new flat, bungalow,raw house and also for carryout addition/alteration in the existing residential house.
Housing Loan Applicant details :
Copy of Last Three years income tax return / Pay slip of last 3 months.
If Applicant is businessman in that case last three years copies of balance sheet, income tax return of the proprietor/partner,statement of capital account.
- If property is to be purchased under housing scheme,the copies of documents,such as share certificate,allotment-letter,saledeed,revenue records of 7/12.
- Copy of authorised building plan.
- Copy of receipt of advanced payment-made/copy of agreement to sale
- Copy of title clearance certificate given by the advocate/ solicitor.
- Consent letter from the society about noting of charge of the bank.
- Three copies of Photograph
- Copy of PAN Card
- Address proof – electric bill /telephone bill (any one)
- Photo proof – Pan card / Voter card / Driving license (Any one)
- Photograph-two copies
- Last tax bill
- Last income tax return copy
- Address proof – electric bill /telephone bill (any one) As per KYC norms
- Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norms
Housing Loan Conditions
- Original documents of property to be submitted to the bank. Registered mortgage of property to be done in favour of bank.Bank charge will be noted in society’s book.
- Valuation of the property will be required for old property. Bank will give loan of 60% of valuation amount.(for old property)and new property bank will give loan of 80%.
- Bank will give loan if property is having N.A.N.O.C and BU permission.
- Applicant will have to take insurance of the building in favour of bank.
- Loan amount with interest will be repaid within 120 equal monthly instalments.
- Applicant has to submit original share certificate of the Society/Association, Municipal Tax bill, Tax receipt, sales deed etc, for registered mortgage of the property.
- Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
- Applicant has to take share @1%/ 2%/ 2.5% of the limit.
- Processing charges upto Rs 1000 will be levied on sanction.
- Machinery term loan is available for purchase of old/new machinery. Trading / Manufacturing units, Traders , Business community can avail credit facility for development of business.
Applicant details :
- Applicant’s last two years Income tax Return /last years balance sheet and profit & loss account of firm/company.
- Last tax bill / certificate from society chairman/Secretary if applicant own property
- Applicant should have Savings/ current Bank account with the bank.
- Bank Statement.
- Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
- 3 Photographs of Applicant
- Address proof – electric bill /telephone bill- land line /Aadhar card (any one) As per KYC norms.
- Photo proof – Pan card / Voter card / Driving license (Any one) As per KYC norms
- Photograph-2 copies
- Last tax bill
- Last income tax return copy /Pay Slip
- Address proof – electric bill /telephone bill- land line (any one)
- Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)
- Two guarantors are required.
- Bank will sanction loan 80% of quotation amount for new machinery. Applicant has to deposit margin money with bank. Bank will issue banker cheque to dealer.
- Loan will be repaid with interest within 60 equal monthly instalments.
- Applicant has to submit 60 cheques for repayment of instalments and remaining cheques as per bank's instruction.
- Applicant has to take share of bank @ 2.5% to 5.0% of the limit.
- Processing charges upto 1000/- will be levied on sanction.