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Loan Against Property<\/strong><\/p>
LOAN\/OD AGAINST MORTGAGED PROPERTY<\/strong><\/p><\/td><\/tr>
PURPOSE<\/strong><\/p><\/td>
Personal Needs-Term Loan\/Business-Overdraft<\/p><\/td><\/tr>
ELIGIBILITY<\/strong><\/p><\/td>
Individuals & Businessmen-Proprietary concern\/Partnership\/Pvt. & Public Ltd. Co.\/Professionals & Self Employed<\/p><\/td><\/tr>
RATE OF INTEREST<\/strong><\/p><\/td>
Term Loan-10.00%<\/p>
Overdraft-10.75%
\u00a0<\/p>
\u00a0<\/p><\/td><\/tr>
TENURE<\/strong><\/p><\/td>
Term Loan-120 months (max)<\/p><\/td><\/tr>
O\/D-To be reviewed\/renewed every year<\/p><\/td><\/tr>
MODE OF REPAYMENT<\/strong><\/p><\/td>
Term Loan-PDCS\/ECS\/THRU ACCOUNTS<\/p><\/td><\/tr>
COST ELIGIBILITY<\/strong><\/p><\/td>
Market value as per valuation certificate by approved valuer. (Old premises should have a residual life of 20 years and the property should not be older than 30 years. Architect certificate to this effect be obtained)<\/p><\/td><\/tr>
MARGIN<\/strong><\/p><\/td>
50%<\/p><\/td><\/tr>
AMT.ELIGIBILITY<\/strong><\/p><\/td>
50% of the market value of the property to be mortgaged. Value to be ascertained as per valuation certificate by approved valuer.<\/p><\/td><\/tr>
INCOME ELIGIBILITY<\/strong><\/p><\/td>
Term loan-SALARIED INDIVIDUALS<\/strong><\/p><\/td><\/tr>
1. Drawing gross salary upto Rs.20,000\/-. Maximum loan amount would be 45 times of take home (net) salary.<\/p><\/td><\/tr>
2. Drawing gross salary above Rs.20,000\/-. Maximum loan amount would be 50 times of take home (net) salary.<\/p><\/td><\/tr>
Term loan-BUSINESSMEN\/SELF EMPLOYED\/PROFESSIONALS<\/strong><\/p><\/td><\/tr>
1.Having Cash Accruals upto Rs.2.50 lacs (i.e. Net Profit +Depreciation) \u2013 Maximum loan amount would be 3.50 times of the average cash accruals for the last three years.<\/p><\/li>
2.Having Cash Accruals above Rs.2.50 lacs (i.e. Net Profit +Depreciation) \u2013 Maximum loan amount would be 5 times of the average cash accruals for the last three years.<\/p><\/li><\/ol><\/td><\/tr>
\u00a0<\/td><\/tr>
FOR BOTH THE ABOVE, TAKE HOME SALARY SHOULD BE MINIMUM 35% OF THE GROSS SALARY INCLUSIVE OF THE PROPOSED LOAN REPAYMENT<\/strong><\/p><\/td><\/tr>
OVERDRAFT-As per MPBF<\/strong><\/p><\/td><\/tr>
DURATION OF SERVICE\/ BUSINESS<\/strong><\/p><\/td>
Salaried \u2013 3 years confirmed ser.<\/p><\/td><\/tr>
Business\/Professional-3 years<\/p><\/td><\/tr>
PRIMARY SECURITY<\/strong><\/p><\/td>
Equitable\/Regd. Mortgage of the property against which bank finance is availed.<\/p><\/td><\/tr>
GUARANTORS<\/strong><\/p><\/td>
Two guarantors of good means acceptable to the bank.<\/p><\/td><\/tr>
PROCESSING FEES<\/strong><\/p><\/td>
As per Banks norms.<\/p><\/td><\/tr>
SHARE LINKAGE<\/strong><\/p><\/td>
Borrowers- 2.50 % of the total loan amount. Guarantors- 40 shares<\/p><\/td><\/tr>
REQUIREMENTS<\/strong><\/p><\/td>
1.Loan application form<\/p><\/li>
2.Borrowers and guarantors-3 years I.T. returns for business and Form 16 in case of salaried persons<\/p><\/li>
3.Borrowers\/guarantors-6 months salary certificate in case of salaried persons<\/p><\/li>
4.Account to be opened fulfilling the KYC norms\/ KYC norms for guarantors to be complied with.<\/p><\/li>
5.Borrowers\/Guarantors- Bank statement for last 6 months of the applicant\u2019s existing bankers<\/p><\/li><\/ol><\/td><\/tr>
6. Chain of original agreements of the property starting from builder till the applicant<\/p><\/td><\/tr>
7.Registration Receipt<\/p><\/li>
8.Stamp Duty Receipt<\/p><\/li>
9.Share Certificate of the society.<\/p><\/li>
10.NOC from builder\/society before sanction of the facility<\/p><\/li>
11.NOC confirmation from builder\/society after sanction of the facility but before disbursement<\/p><\/li>
12.All payment receipts<\/p><\/li>
13.Title clearance certificate from panel advocate-charges to be borne by the applicant<\/p><\/li>
14.Valuation report of the premises in case of resale of flat-Charges to be borne by the applicant<\/p><\/li>
15.<\/p><\/li>
16.Property to be insured with bank clause<\/p><\/li>
17.In case of business-VAT\/Sales tax returns for the last two half years<\/p><\/li>
18.NOC\/consent from joint holders<\/p><\/li><\/ol><\/td><\/tr>
OTHER<\/strong><\/p><\/td>
1.Insurance with Bank clause<\/p><\/li>
2.Borrower to bank exclusively with our bank<\/p><\/li>
3.Registration of our charges with ROC in case of limited companies<\/p><\/li>
4.Borrowers\/Guarantors should have satisfactory track record and should not be an NPA with any other banks\/FI.<\/p><\/li><\/ol><\/td><\/tr><\/tbody><\/table>
** Terms & Conditions applied.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/body>","protected":false},"excerpt":{"rendered":"
Loan Against Property LOAN\/OD AGAINST MORTGAGED PROPERTY PURPOSE Personal Needs-Term Loan\/Business-Overdraft ELIGIBILITY Individuals & Businessmen-Proprietary concern\/Partnership\/Pvt. & Public Ltd. Co.\/Professionals & Self Employed RATE OF INTEREST Term Loan-10.00% Overdraft-10.75%\u00a0 \u00a0 TENURE Term Loan-120 months (max) O\/D-To be reviewed\/renewed every year MODE OF REPAYMENT Term Loan-PDCS\/ECS\/THRU ACCOUNTS COST ELIGIBILITY Market value as per valuation certificate by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-162","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/comments?post=162"}],"version-history":[{"count":4,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/162\/revisions"}],"predecessor-version":[{"id":308,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/162\/revisions\/308"}],"wp:attachment":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/media?parent=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

LOAN\/OD AGAINST MORTGAGED PROPERTY<\/strong><\/p><\/td><\/tr>
PURPOSE<\/strong><\/p><\/td>	Personal Needs-Term Loan\/Business-Overdraft<\/p><\/td><\/tr>
ELIGIBILITY<\/strong><\/p><\/td>	Individuals & Businessmen-Proprietary concern\/Partnership\/Pvt. & Public Ltd. Co.\/Professionals & Self Employed<\/p><\/td><\/tr>
RATE OF INTEREST<\/strong><\/p><\/td>	Term Loan-10.00%<\/p> Overdraft-10.75% \u00a0<\/p> \u00a0<\/p><\/td><\/tr>
TENURE<\/strong><\/p><\/td>	Term Loan-120 months (max)<\/p><\/td><\/tr>
O\/D-To be reviewed\/renewed every year<\/p><\/td><\/tr>
MODE OF REPAYMENT<\/strong><\/p><\/td>	Term Loan-PDCS\/ECS\/THRU ACCOUNTS<\/p><\/td><\/tr>
COST ELIGIBILITY<\/strong><\/p><\/td>	Market value as per valuation certificate by approved valuer. (Old premises should have a residual life of 20 years and the property should not be older than 30 years. Architect certificate to this effect be obtained)<\/p><\/td><\/tr>
MARGIN<\/strong><\/p><\/td>	50%<\/p><\/td><\/tr>
AMT.ELIGIBILITY<\/strong><\/p><\/td>	50% of the market value of the property to be mortgaged. Value to be ascertained as per valuation certificate by approved valuer.<\/p><\/td><\/tr>
INCOME ELIGIBILITY<\/strong><\/p><\/td>	Term loan-SALARIED INDIVIDUALS<\/strong><\/p><\/td><\/tr>
1. Drawing gross salary upto Rs.20,000\/-. Maximum loan amount would be 45 times of take home (net) salary.<\/p><\/td><\/tr>
2. Drawing gross salary above Rs.20,000\/-. Maximum loan amount would be 50 times of take home (net) salary.<\/p><\/td><\/tr>
Term loan-BUSINESSMEN\/SELF EMPLOYED\/PROFESSIONALS<\/strong><\/p><\/td><\/tr>
1.Having Cash Accruals upto Rs.2.50 lacs (i.e. Net Profit +Depreciation) \u2013 Maximum loan amount would be 3.50 times of the average cash accruals for the last three years.<\/p><\/li> 2.Having Cash Accruals above Rs.2.50 lacs (i.e. Net Profit +Depreciation) \u2013 Maximum loan amount would be 5 times of the average cash accruals for the last three years.<\/p><\/li><\/ol><\/td><\/tr>
\u00a0<\/td><\/tr>
FOR BOTH THE ABOVE, TAKE HOME SALARY SHOULD BE MINIMUM 35% OF THE GROSS SALARY INCLUSIVE OF THE PROPOSED LOAN REPAYMENT<\/strong><\/p><\/td><\/tr>
OVERDRAFT-As per MPBF<\/strong><\/p><\/td><\/tr>
DURATION OF SERVICE\/ BUSINESS<\/strong><\/p><\/td>	Salaried \u2013 3 years confirmed ser.<\/p><\/td><\/tr>
Business\/Professional-3 years<\/p><\/td><\/tr>
PRIMARY SECURITY<\/strong><\/p><\/td>	Equitable\/Regd. Mortgage of the property against which bank finance is availed.<\/p><\/td><\/tr>
GUARANTORS<\/strong><\/p><\/td>	Two guarantors of good means acceptable to the bank.<\/p><\/td><\/tr>
PROCESSING FEES<\/strong><\/p><\/td>	As per Banks norms.<\/p><\/td><\/tr>
SHARE LINKAGE<\/strong><\/p><\/td>	Borrowers- 2.50 % of the total loan amount. Guarantors- 40 shares<\/p><\/td><\/tr>
REQUIREMENTS<\/strong><\/p><\/td>	1.Loan application form<\/p><\/li> 2.Borrowers and guarantors-3 years I.T. returns for business and Form 16 in case of salaried persons<\/p><\/li> 3.Borrowers\/guarantors-6 months salary certificate in case of salaried persons<\/p><\/li> 4.Account to be opened fulfilling the KYC norms\/ KYC norms for guarantors to be complied with.<\/p><\/li> 5.Borrowers\/Guarantors- Bank statement for last 6 months of the applicant\u2019s existing bankers<\/p><\/li><\/ol><\/td><\/tr>
6. Chain of original agreements of the property starting from builder till the applicant<\/p><\/td><\/tr>
7.Registration Receipt<\/p><\/li> 8.Stamp Duty Receipt<\/p><\/li> 9.Share Certificate of the society.<\/p><\/li> 10.NOC from builder\/society before sanction of the facility<\/p><\/li> 11.NOC confirmation from builder\/society after sanction of the facility but before disbursement<\/p><\/li> 12.All payment receipts<\/p><\/li> 13.Title clearance certificate from panel advocate-charges to be borne by the applicant<\/p><\/li> 14.Valuation report of the premises in case of resale of flat-Charges to be borne by the applicant<\/p><\/li> 15.<\/p><\/li> 16.Property to be insured with bank clause<\/p><\/li> 17.In case of business-VAT\/Sales tax returns for the last two half years<\/p><\/li> 18.NOC\/consent from joint holders<\/p><\/li><\/ol><\/td><\/tr>
OTHER<\/strong><\/p><\/td>	1.Insurance with Bank clause<\/p><\/li> 2.Borrower to bank exclusively with our bank<\/p><\/li> 3.Registration of our charges with ROC in case of limited companies<\/p><\/li> 4.Borrowers\/Guarantors should have satisfactory track record and should not be an NPA with any other banks\/FI.<\/p><\/li><\/ol><\/td><\/tr><\/tbody><\/table> ** Terms & Conditions applied.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/body>","protected":false},"excerpt":{"rendered":" Loan Against Property LOAN\/OD AGAINST MORTGAGED PROPERTY PURPOSE Personal Needs-Term Loan\/Business-Overdraft ELIGIBILITY Individuals & Businessmen-Proprietary concern\/Partnership\/Pvt. & Public Ltd. Co.\/Professionals & Self Employed RATE OF INTEREST Term Loan-10.00% Overdraft-10.75%\u00a0 \u00a0 TENURE Term Loan-120 months (max) O\/D-To be reviewed\/renewed every year MODE OF REPAYMENT Term Loan-PDCS\/ECS\/THRU ACCOUNTS COST ELIGIBILITY Market value as per valuation certificate by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-162","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/comments?post=162"}],"version-history":[{"count":4,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/162\/revisions"}],"predecessor-version":[{"id":308,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/162\/revisions\/308"}],"wp:attachment":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/media?parent=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}