Mortgage Loan
RSABN brings to you an innovative combination of a loan and over draft facility with flexible repayment options against the security of your immovable property.
Key Benefits:
- Ideal use of idle property - Generate additional income from an otherwise idle property.
- Withdraw money as per your need and save on interest cost.
- Deposit surplus money / regular income / salary and save interest.
- Flexibility to withdraw money deposited earlier.
Salient Features
- Limit:
Minimum : Rs. 10,000/-
- Maximum areas
- Easy Documentation
- Mortgage loan from other NIDHIs can be taken over
Terms & Conditions
Eligibility:
Salaried Employees / Professional, Self Employed & Other income tax assesses for last 3 years with a minimum gross annual income of Rs. 60000.
Age: Minimum 21 years
Income Criteria:
- Salaried: 6 times of gross monthly income OR 80% of Mortgage Value
- Others: 2 times of average (last 3 years) annual income OR 80% of Mortgage Value
Documents Required:
- Salaried
- Income proof (Form 16 along with salary certificate from the employer)
- ID PROOF
- ADDRESS PROOF
- 02 MEMBERS AS PER GUARANTOR
- Professional / Self-employed
- I.T. returns for past 3 years
- Latest income tax assessment order (for overdraft amount of over Rs. 5 Lacs)
- Income certificate from appropriate revenue authority like Tehsilldar/BDO/SDO (for agriculturist)
- Original title deeds of the property offered for mortgage
- Paid receipt of latest maintenance, water tax, municipal tax and any such taxes.
- Non encumbrance letter from co-op society
- Permission to create Equitable Mortgage from society
- Last 6 months NIDHI statements of main NIDHI account
| Mortgage Loan INTREST |
| 18% + RS. 100/- FILE CHARGES |