Pusad Urban Bank
 
Home Loan
 
Eligibility
  • The Housing loan may be sanctioned to the borrower within the area of operation of the Bank.
  • Age 21 to 55 years.
Category of Loan
  • For purchase of ready built house / Flat.
  • Construction of house.
  • Repairs and Renovation of house.
  • Extension of existing house.
Membership
  • The applicant should be a permanent member of the Bank.
Basis for deciding loan limit
  • 15% to 25% margin on cost of construction or purchase of House / Flat.
  • In other cases 25% margin.
Documents required
  • Original sale deed of property. 
  • 7/12, 8A, PR card etc. 
  • Permission of construction.
  • Salary Certificates. 
  • N. A. Order copy. 
  • Allotment letter of Flat.
  • License / Registration copy. 
  • Balance sheet up to 10 Lacks un – Audited. 
  • Income tax return. 
  • Property Documents. 
  • Sanctioned Map/ Permission  
  • Agreement to sale copy.  
Guarantors
  • Two guarantors with good network.
  • Should not be defaulter of Bank.
Collateral security
  • House / Flat.
  • Liquid Security.
Interest Rate
  • Interest will be charge on monthly basis as per the prevailing rate.
  • penal interest 2% will be charged in case of default.
Moratorium Period
  • If required, three months to one year.
Disbursement of Loan
  • The loan will be disbursed as per the progress of construction.
  • Incase of purchase of readymade House the disbursement can be made in single installment.
Fees and charges
  • 2.5% linking shares.
  • Processing fees as per the Bank rule.
  • Stamp duty as per the bank rule.
 
 
 
       
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