Eligible Borrower | Individual/ Sole.Prop /Partnership Firm/ Limited Companies |
Age | The applicant’s (Individual) age shall be between 21 years to 60 |
Purpose | Business needs / Personal needs
|
Security | House / Commercial properties / Plot (DTCP approved) |
Margin | 40% |
Loan Amount | Minimum 2 lacs to Maximum 3 crores |
Tenor | Maximum 7 years |
Rate of interest | As per credit rating |
DSCR | 1.25 to 1.5 |
Co-applicant | All the property owners and individuals whose income has been considered for assessing the repaying capacity. |
Guarantor | Spouse of the property owner and one of the close relatives of the Borrower/ Third party |
Documents required | KYC documents, ITR for 3 years, Audited financial statements for 3 years (for business concerns), Bank Account statement for 1 year, property Documents |