The Greater Bombay Co-operative Bank Ltd, more popularly known as Greater Bank, was established over five decades ago on 10th December 1952. The bank was established with a single motto of serving the society in large. In 1996, the bank achieved the “Scheduled Bank “status. The Bank has been functioning very well in the recent years and has successfully crossed a deposit mark of more than Rs.1200 crores and a business mix of more than Rs. 2000 crores.
Purpose: This loan finances construct / buy a house / flat or taking over a home loan.
Eligibility: Salaried individuals, Businessmen, Self-employed professionals like Doctors, Engineers, Lawyers, Chartered Accountants, etc., Entrepreneurs can avail this loan.
Quantum of Loan: The maximum amount granted as loan is Rs. 50 lakhs.
Rate of Interest: The rate of interest is 10.5% per annum for loans up to Rs. 5 lakhs, 10.75% per annum for loans of Rs. 5 lakhs to Rs. 10 lakhs, 11% per annum for loans of Rs.10 lakhs to Rs. 30 lakhs and 11.5% per annum for loans of Rs. 30 lakhs to Rs. 50 lakhs.
Repayment: The maximum period of repayment is 15 year. The repayment has to be done in EMI.
Security & Guarantee: Documents related to house property need to be produced.