Any personal purpose such as meeting expenditure on education, marriage, healthcare, etc. other than speculative purpose.

Types of Farmers

• Age : 21- 60 Years
• Employees, Professionals and Self-employed Individuals who are IT assesses, Non Resident Indians (NRIs) who own residential property in his/her own name or in the name of spouse/children/parent/sibling.
• Employees of Central / State government, PSUs, Reputed Corporates / Companies / Retail traders, Professionals & Self employed business persons, Small business enterprises, Income tax assesses with steady & verifiable source of income.
• In addition to the applicants income, income of spouse / children / parents / siblings may also be considered for arriving at maximum loan amount provided they are joining the loan as co-borrower(s).
• If the property is held jointly with the spouse / children / parents / siblings in such cases all the joint holders of the property should join as co-borrower(s), but in cases where the property is held in single name of the borrower, the spouse / children / parents /siblings may join as co-borrower or guarantor. However, in any case the number of co-borrowers should not exceed 3 including spouse / children / parents / siblings.
• Minimum completed service should be 2 years.
• Only individuals and who own the property in his/her own name or in the name of spouse/children/parent/sibling are eligible.
• CIBIL Score: Should not be less than 700.
• For employees: Minimum Net Salary is Rs.20,000/- per month.
• For Self Employed Business Person/ Self-employed Professional : Minimum Net Annual Income is Rs.2,50,000/- per annum.

11.00% P.A

• Min limit - Rs.2,00,000/-
• Maximum Loan limit - Rs.3,00,00,000/-

LTV : 60% of the realizable value of the property

or

EMI/NMI ratio which should not exceed 60% of the applicants Net Monthly income.

Repayment Period - 120 EMIs

Statement of Salary Savings Bank Account for the last six months for salaried individuals and last 12 months current account statement for Business individuals, if current account is not available in such case Savings account statement. 

 Last 2 years Balance Sheet, P &L account and Trading account with Annexures / Schedules (of both the individual and the business entity, if different) in case of Business persons. 

 3 Passport size photographs of borrower(s) / guarantor(s). 

 A copy of passport or Voter’s ID card/PAN ID Card/Aadhaar Card or any other Officially valid KYC documents. 

 A Copy of Employee ID Card in case of employees. 

 Proof of Residence like Aadhaar, passport etc. as per KYC norms or any other Officially valid KYC documents. 

 Copy of ITR along with computation of income for the last two Assessment/financial years duly acknowledged by ITO (original acknowledgement to be verified) in case of business persons or two years Form 16 in the case of salaried persons. 

 Latest three month’s salary slips showing all deductions for salaried persons. 

 Details of ongoing loans of the individual and its loan repayment statements. 

 Other required/relevant documents, if any.

direct link to service charges

SARFAESI Compliant Urban property which is residential (self-occupied) /commercial (free hold property) standing in the name of individuals/joint owners to be accepted.

Note:
• Agricultural land/ under construction / partially constructed properties are not permitted as security.
• Properties in the name of firms will not be accepted.
• Leased properties will not be accepted as security.
• Open plots will not be accepted as security