|FINANCE AGAINST MORTGAGE|
SALIENT FEATURES OF SCHEME FOR FINANCE AGAINST MORTGAGE OF IMMOVABLE PROPERTY
For Business & Personal needs (Borrower to disclose specific purpose of loan and also to
give undertaking that the loan shall not be used for speculative purposes.)
Employees of Central/ State Govt./Schools/Colleges/ Public Sector Undertakings (PSUs)/ Reputed Corporates and Other Income Tax Assesses including Professionally qualified Doctors, who are below the age of 60 years.
Customers with a satisfactory track record of three years (cash profits during last three years and net profit in the immediately preceding year)
3.2 For Business needs :
(A) Minimum : Rs. 5.00 lac
(B) Maximum: Rs. 500.00 lac.
Loans/advances shall be sanctioned against the Equitable Mortgage of the nonencumbered residential House/Flat or commercial or industrial property (in the shape of building/ Industrial Shed) self occupied or vacant, having eligibility for coverage under SARFAESI Act
Maximum 84 months