Housing Loan

Shree Sharada Sahakari Bank Ltd., Pune    19-Sep-2015
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Housing loan at Sharada Bank, Where dream comes to reality !!



Purpose

For  construction of house/flat
Purchase of ready built house/flat/ old flat not more than 20 years
For takeover of housing loans from other banks/institutions

Eligibility

I. Salaried Employees / Businessmen having regular source of income.
II. Where property is held in joint names all the joint holders should join as co- borrowers to the loan.
III. Where the property is owned by applicants spouse / parent who does not have independent / regular income they should join as co-borrowers  irrespective of their age

Loan Amount :

As per bank's rules & repayment capacity of the borrower.

Margin :

90% loan of Package cost excluding GST.

Rate of Interest

9.00%

Repayment         

Within 180 month's by EMI.  Repayment will commence from the next month of disbursement. However in case of a house /flat under construction, the repayment will commence one month after the occupation of the flat / house or 18 months from date of advance, whichever is earlier.  In such cases, monthly interest has to be serviced till the regular repayment commences. 

Security    

Equitable / registered  mortgage of the house / flat to be purchased from Bank Loan 

Guarantors

2 guarantors acceptable to the Bank

In case of existing loans preferably same guarantors be proposed.

Other Conditions

In addition to the above conditions, the specific terms and conditions of the loan will differ from case to case .