NEWS
Registration No: SE 1524 | RBI Licence No: UBD.GUJ.1215P | IFSC Code: IBKL0443MNB |

Personal Over Draft & CC

 

  • Introducing Loan Against Fixed Deposits from Bank. Now you can use your FD to fulfil your financial requirements without having to liquidate it in an hour of need. The facility enables you to:

Applicant details :

  • Copy of Last Three years income tax return, Pan Card 
    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)


Guarantor Details

  • Photograph-two copies
  • Latest tax bill
  • Last 3 years 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


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 70% 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 @2.5% to 5.0% of the limit.
  • Processing charges upto Rs 1000 will be levied on sanction.