Mortgage Loan

The members can avail the loan facility by mortgaging their residential / commercial semi-urban /urban property (other than agricultural lands, open lands and plots) to meet their business needs as well as to meet their personal expenditure. Loans against open plots, and agricultural loans will be considered on merit basis.

Mortgage Scheme Features & Benefits

The property offered will be subject to legal scrutiny to ensure ownership / possession and marketability.

 Security shall be created by way of Registered Mortgage.

  • Quantum of loan shall be a minimum of Rs.1,00,000/- and maximum of Rs. 20,00,000/-, subject to 60% of the market value of the property
  • The loan shall be repayable in equal monthly /quarterly instalments of 12 months to 72 months(EMI)
  • Pre closure / prepayment after 6 months will be permitted with a penalty of 2% of the pre-paid principal amount
  • Irrespective of value of property the member borrower should have enough regular / monthly cash flows to service the loan instalments and income proof shall be provided
  • Personal guarantors / sureties acceptable to the society with sufficient income, who are members of the society.