HUF / TRUST/ PUBLIC LIMITED COMPANY ARE NOT ELIGBLE UNDER THE SCHEME.

For any purpose except for financial speculation of any nature (Persons engaged in Property development/ property dealings/ brokers, share/stock brokers and persons engaged in any speculative activity NOT ELIGIBLE UNDER THE SCHEME)

Target Group

Individuals (Resident/ Non Resident Indians)

Purpose

For any purpose except for financial speculation of any nature (Persons engaged in Property development/ property dealings/ brokers, share/stock brokers and persons engaged in any speculative activity NOT ELIGIBLE UNDER THE SCHEME)

Eligibility

Individuals (Resident/ Non Resident Indians)

Resident Indians

Salaried/ Professionals/ self-employed/ Business persons/ Agriculturists employed/ engaged in business/ profession for a minimum period of 3 years. (Break in service can be considered for maximum period of 3 months)

Minimum Gross Annual Income (average of Last 3 years) should be Rs. 3 lacs including co-applicants whose income is considered for eligibility of limit.

Non-Resident Indians

Any NRI, holding valid Indian Passport, and having regular employment / self-employed/ business for a minimum period of -2- years and holding a valid Job-Contract / work-permit for minimum -2- years in foreign country.

Minimum Gross Annual Income (average of Last 3 years) should be Rs. 5 lacs including co-applicants whose income is considered for eligibility of limit.

HUF / TRUST/ PUBLIC LIMITED COMPANY ARE NOT ELIGBLE UNDER THE SCHEME.

Type of facility

Term Loan/ Demand Loan / Overdraft

NRIs will be granted Term Loan / Demand Loan only

Margin

40% on Realizable Value of immovable properties

Security

Mortgage of Immovable Properties:

Residential Property (House / Flat)

Commercial property (Building / Land & Building)

Plot of Land (not agricultural land)

Limit

Minimum: Rs.2.00 Lacs

Maximum: (For all category of borrowers):

Metro branches : Rs.10.00 Crores

Urban branches : Rs.5.00 Crores

Semi Urban branches : Rs.3.00 Crores

Rural branches : Rs.25 Lacs

Repayment Period

Term Loan: 120- Months

Overdraft: 12- Months; Subject to Annual Review

Repayment Capacity: (for all category borrowers)

For All category of borrowers

GMI up to Rs.75,000/- : 50%

GMI above Rs.75,000/- to Rs.3.00 Lacs : 60%

GMI above Rs.3.00 Lacs : 70%

Unified Processing Charges

The unified processing charges (which includes Processing Charges ,Documentation charges ,Document Verification/ vetting charges ,Pre- Inspection (Contact Point Verification-CPV) charges ,One time post inspection charges ,Advocate charges for legal opinion ,Valuer charges for valuation (One time at the time of sanction) ,Bureau report charges ,CERSAI charges ,ITR Verification charges ) to be levied as detailed below

For Term Loan

1% of Loan amount with maximum Rs.1,50,000/-

Minimum: Rs.7, 500/- (upfront)**. Balance amount of processing charges will be recovered at the time of conveying sanction.

For Over Draft

Up to Rs.3.00 Crores : 0.35% of limit with maximum: Rs.75,000/-

Above Rs.3.00 Crores : 0.25% of the limit without any maximum.

Minimum

Rs.7, 500/- (upfront)**. Balance amount of processing charges will be recovered at the time of conveying sanction.

** The above upfront charges considered as if only one property is offered as security. If two or more properties are offered as security, Rs.7,500/- per additional property would be applicable as upfront charges in addition to minimum upfront charges as mentioned above (subject to overall stipulated maximum processing charges).

Inspection

Bank will have the right to inspect the borrower’s property at all times and from 2nd post sanction Inspection onwards Rs. 100 plus GST per inspection to be charged from borrower.

Legal opinion & Valuation charges

Title of the property proposed to be purchased is to be clear, absolutely unencumbered and marketable to the satisfaction of the Bank’s solicitor/ advocate. Title verification and Valuation of the property will be done by the empaneled advocate/ valuer of the Bank.

In case of limit above Rs.1.00 Crore, 2nd valuation of the property also to be obtained and to be satisfied upon. The lower of the -2- valuations to be considered while calculating the limit.

Insurance

Insurance of the property taken as security as per the valuation report for full value excluding cost of land. The charges to be borne by borrower/s.

Mortgage Creations Charges

As per Bank’s extant guideline applicable

Other Expenses

Like stamp duty for execution of documents, registration charges varying from State to State and other related charges/ expenses for the loan shall be borne by the Borrower.

Credit Information Report:

Bank is authorized to make enquiries from any of the Credit Information Bureau and get the Credit Information Reports. Bank is also authorized to disclose from time to time any information relating to the loan to any Credit Bureau approved by Got of India or Reserve Bank of India without any notice to the borrower.

Rate of Interest & Charges

Commitment Charges :

In all overdraft limit sanctioned, minimum quarterly average utilization of sanctioned limits should be 60%. In case of quarterly average utilization of sanction limit is less than 60% of the sanction limit, interest in the account will be charged on minimum 60% of sanctioned limits on quarterly basis.