#1
23rd July 2016, 05:22 PM
| |||
| |||
State Bank of Patiala Loan against Property
Can you tell me about the eligibility requirement for State Bank of Patiala or SBP- Easy Loan Scheme (Mortgage Loan) for Individuals (Loan against Equitable Mortgage of Property)?
|
#2
23rd July 2016, 05:55 PM
| |||
| |||
Re: State Bank of Patiala Loan against Property
The eligibility requirement for State Bank of Patiala or SBP- Easy Loan Scheme (Mortgage Loan) for Individuals (Loan against Equitable Mortgage of Property) is as follows: Eligibility Individuals who are: a) Employees b) Engaged in agriculture and allied activities. Maximum age limit: 60 years. Loan amount Min of the following: a) Principal (as per EMI chart) corresponding to the EMI taken as ½ of NMI. b) 50% of the realizable value of the property. Minimum Rs.5 lac and maximum Rs.1 Crore Security Equitable mortgage of non-encumbered residential house /flat, non-agriculture urban landed property, commercial or industrial property in the name and possession of the borrower i.e. either self-occupied or spouse. Repayment In 60 months (5 years). Rate of Interest (Per Annum) 14.95% i.e. 5.00% above the Base Rate (presently base rate is 9.95% w.e.f. 08.06.2015) Processing Fee 2.02% of the limit sanctioned (upfront) maximum Rs. 50,933/- Papers to be submitted with loan application: For all Applicants: - Application form. - Statement of bank account at least for the last six months. - 2 passport size photographs. - Latest salary slips showing all deductions. - Employment details for the last 3 years, in case the applicant has not been earlier in the present organization. - TDS certificate- form 16 in the case of salaried persons. - Copy of income tax return for last 2 financial years duly acknowledged by ITO, for other than salaried persons. - Signature verification from banker - A copy of passport or voter’s ID Card/ PAN ID Card proof of residence State Bank of Patiala Loan against Property |
|