RBS bank offers loan against property, to meet your varying finantial needs, ranging from medical emergencies to functions. Apply for property loans starting from 2 lakh- 70 lakh at very competitive interest rates.
Features
Rates & Charges
Repayment
Eligibility Criteria
Documents Required
Features
- Get up to a maximum of Rs. 2 lakh – 70 lakh
- Term Loan with Repayment relaxation up to 7 years*
- Less documentation.
- Quick and easy process with payment on the same day.
Rates & Charges
- 40% of the Realizable value of the property.
- Rate of Interest: 12.50% p.a.upto 30 Lacs.13% above 30 Lacs.
- Pre-Payment Penalty: 00% + GST
- Upfront Processing fee: @ 0.50% + GST on one-time basis, on total sanctioned
amount. - Penal interest: 2% to be charged for the period of default in repayment*
Repayment
- The mode of repayment will be through
- The repayment tenure period will be a maximum of 7 years
Eligibility Criteria
- Applicants should be A Class Member of our bank.
- The applicants can be an individual s in the age group of 18 – 65 years & firms & companies owning Unencumbered self-occupied residential/commercial property /or building in his/her/their name.
- The applicant can be Permanent Employees of Central/ State Govt./ Public Sector Undertakings (PSUs) (including Schools/Colleges/ Educational Institutions), Reputed Companies /MNCs, Individual Businessmen, Professionals and Self employed individuals having minimum 2 years standing for forms & companies having business standing of more than 3 financial years.
- Loan against third-party property, open Plot, or Property on Rental is strictly prohibited.
- The loans should not be used for speculative purposes
- Close relative/s (son, daughter, sister, brother, along with the spouse) may join as co applicant/s for supplement repayment capacity.
- Cash accruals/Depreciation/TL Interest also may be added to income, in case of borrowers other than salaried class
Documents Required
- Proof of identity
- Proof of address
- Proof of income for a minimum past 2 years of ITR/Form 16 is Mandatory.
- 10 PDCs
- Standing Instructions of Saving / Current / CC Accounts
- KYC of Applicant(s) & Guarantor(s)
