The Ahmadabad Mercantile Co-op. Bank Limited – Housing Loan

Purpose: For the purpose of construction of purchase of house

Eligibility: Salaried/ businessmen/ self-employed capable of repaying the loan are eligible for the housing loan

Quantum of Loan: 80% Value of House & Maximum up to Rs.50 Lakhs

Rate of Interest: 10.90%

Security: Loan would be secured by reg. equitable mortgage of property financed

Repayment: Maximum 15 years

Processing Charge: 0.50% of the Loan amount + S.T

Documents Required: The following documents are required for the home loan

• All documents pertaining to the property to be purchased under housing scheme.
• Income-Proof of borrower.
• In case of firm, Balance-Sheet, Profit-Loss ac & copy of Sales-tax, in come-tax challan, Residential proof of partner or proprietor.
• Detail of guarantors along with their income proof, Residential proof etc.
• Permission from competent authority for development construction and approved plan copy.
• Valuation report, Visit report.
• No due, No Objection certificates from association and other required documents borrower
• Stipulated by our solicitor.

Others: The home loan is offered at fixed rate during the loan period