Housing Loan Scheme
Who can apply?
Any individual.
What should be  the purpose?
For purchasing a dwelling  house/flat for self occupation
What is income criteria?
  1. salaried person:
  2. Prof & self-employed :.
  3. Businessman (proprietor) :Net profit
  4. Businessman ( partner) :
Age criteria
Min age : 18
How much loan can be granted ?
Maximum upto  Rs.70.00 lakhs
What is rate of interest? 
9.50% p.a. upto 25.00 lakhs &
11.00% p.a. above 25.00 lakhs
What will be the share linkage
1% of loan sanctioned
What will be the repayment period?
 Max upto 240 months
What will be  the securities?
Prime: Equitable mortgage of  the property financed
What about guarantors?
Two  guarantors acceptable to Bank
How to apply?
  1. Application in prescribed format
  2. Address proof : Passport / telephone / electricity bill, Ration card / Voter identity card etc
  3. Identity proof : Passport / voter identity card / PAN card telephone/electricity bill etc.
  4. Income proof : Last 3 months` Salary certificates, Form-16, IT Return copies for salaried person), Copies of  audited Profit & Loss account and Balance sheet  of last 3 years, IT Return  copies for last 3 years, Audited income / exp statement & Balance sheet, IT Return of last 3 years for professional & self-employed , 
  5. Copy of registered sale agreement
  6. Search report/ valuation report  
  7. NOC from builder / Society, NOC from CIDCO
  8. share certificate
  9. Consent letter & financial papers of guarantors 
What about insurance?
Property shall be fully insured with Bank clause
How disbursement will be made?
By way of direct disbursement to seller/builder by Bank` Account Payee Pay Order .  
Additional Loan (to Housing / mortgage loan borrowers)
  1. Loan Limit : Up to Rs. 25 Lakhs
  2. Repayment Period : Up to 7 years
  3. Rate of Interest : 8.50% (First year fixed rate of interest and Floating thereafter
  4. Processing Fees : 0.5%
  5. Margin : No Addl margin, if adequately secured by the existing security. Otherwise 25%
National Co-operative Bank