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.
