Under the Mortgage Loan Scheme , the Bank has been providing finance to the owner of the house, flat, any commercial complex or property and also the owners of land other than Agricultural Land having clear title and having suitable saleable value and location against mortgage of such property having sufficient income base. The term loan under the scheme shall be for general purpose of the borrower to meet business, professional or any other personal requirement. Examples are:
Individuals above 21 years of age but not exceeding 65 years owning the property to be mortgaged and having regular income sufficient to repay the loan are eligible for availing the loan under the scheme. Individual borrower may be salaried or self-employed or retired person having regular source of income to repay the loan. The individual owner of the property may avail the loan either singly or jointly. The amount of loan under this scheme shall be over Rs. 1.00 Lakh only but not exceeding Rs. 25.00 Lakh.