Sardar Vallabhbhai Sahakari Bank Limited – Housing Loans

By | September 22, 2011

Sardar Vallabhbhai Sahakari Bank Limited is a Co-operative Bank that got the License No. DBOD-UBD-GJ-351P from Reserve Bank of India’s on 21/11/1983. The Bank then spread its network with 4 branches in Ahmadabad City and 1 branch at Unjha (Mehsana District). The Bank is providing Safe Deposit Vault (Locker) facility at its Law Garden and Isanpur Branch. All branches of the Bank are fully computerized since 1998 and now connected with Core Banking System since May 2009. The bank offers home loans, personal loans, car loans, gold loans, education loan, consumer loans etc.

Purpose: The loan is offered for construction of new houses/ renovation of old houses

Quantum of Loan: Up to 80% of valuation for New Construction House; 50% of valuation for more than 5 years old construction.

Rate of Interest:

Particulars ROI
New House purchase
up to Rs.15,00,000/- for up to 60 months 11.50%
Rs. 15,00,000/- to Rs.30,00,000/-for up to 84 months 12%
House Repairing up to Rs. 2,00,000/- 12.50%

Repayment: maximum 60 months

Initial Requirements: Original Papers including 7×12 notes of the Property for mortgage; Title Clearance Certificate of the property; Copy of Audited Balance Sheet for last 2 Years; Copy of Income Tax Returns for last 2 Years; Valid Address Proof of the person wants term loan; Valid Address Proof of the Security; Valuation Report of the Security; Full Insurance of the House.

Bank Statement for last six months; 2 Guarantors who are having immovable property; Copy Income Tax Returns of all guarantors; Passport size photographs for all

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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