Indian Bank Land Loan

Please gather some information about Plot/ Land Loan facility offer by Indian Bank, so that I can go through it?

[pawan]

On your demand I will get information of Indian Bank, Plot/ Land Loan product offer to customers, so that you can get idea about it easily.

Eligibility
Minimum entry age is 18 years and maximum exit age is 60 years

Amount of Loan
30 times of Gross Monthly Income;
The cap on Plot Loan per borrower has been fixed as under:
For purchase of property in Rural area : Rs. 50.00 lakhs
For purchase of property in Semi-urban area : Rs. 100.00 lakhs
For purchase of property in Urban area : Rs. 200.00 lakhs
For purchase of property in Metro : Rs. 300.00 lakhs.

Repayment
Maximum 180 EMIs (No Holiday Period)

Prepayment charges
NIL

Security
Equitable Mortgage of Property purchased out of loan proceeds.
Equitable Mortgage to be registered (at Applicants cost) if there is a provision for the same in the State where property is located.
CERSAI registration (at Applicants cost) to be done
(i) For Loans up to Rs 5 Lakhs - Rs 50 + ST
(II) For Loans above Rs 5 Lakhs Rs 100 + ST

Margin
25% on Land cost

Processing fee
1.173% on loan amount


Address:-
Indian Bank
PB No: 5555, 254-260, Avvai Shanmugam Salai,
Royapettah, Chennai - 600 014

Phone:-
044 28134300