Housing Loan is available for construction/purchase of old/ New flat, Bungalow, Row house and also for carryout addition/alteration in the existing residential house.
Applicant details:
- 5 Photographs of Applicant
- Applicant Must be Member of Regular Member/Nominal Member
- Photo Proof – Driving License/Election Card/Passport/Aadhaar Card
- copy of PAN Card and Adhar card
- Address Proof – Electric Bill/Telephone Bill (Last 3 Months Old)
- Applicant I.T. Return (Last 3 Years)/Salary Slip of Last 6 Months/Form-16.
- Allotment Letter /Possession Letter (Original)
- Original Share Certificate
- Revenue Record
- Authorized Plan of Building /Society.
- Copy of receipt of advanced payment-made/copy of agreement to sale
- Copy of Title clearance certificate given by the advocate/solicitor.
- Applicant has to show all original documents to the bank for verification with xerox copy.
Terms and 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 50% of valuation amount (for old property) and new property bank will give loan of 75%.
- Bank will give loan if property is having N.A./N.O.C and necessary permissions and various authorities.
- Applicant will have to take insurance of the building in favour of bank.
- Applicant has to submit original share certificate of the Society/Association, Municipal/Gram panchyat Tax bill, Tax receipt, sales deed etc, for registered mortgage of the property.
- Housing Loan repayment in maximum 60/72/84/96/120 months with EMI.
- Interest will be debited on monthly basis.
- Search and Title Report and valuation report will be done by approved lawyer and valuator of the bank. Applicant has to pay their fees.
- Processing charges applicable as per bank rules.
- Applicant can open Savings Account in our Bank.
- Stamp charges applicable as per Govt. of Kerala Stamp Dept.
