Yavatmal Urban Co-op. Bank offers innovative service and schemes. The bank was registered under Maharashtra State Co-operative Societies Act, 1960 on 12th April, 1965 vide registration no. YML/BNK/114 and license number UBD/MH/906P on 9th Nov.1987 and is governed by the Banking Regulation Act 1949 (A.A.C.S.) sec 5(CCV).
Dindayal Gharkul Yojana is similar to the home loan it is offered for the purchase or construction of flats or bungalows.
Purpose – Purchase/Construction of Flat/Independent Banglow
Eligibility – Salaried, professional or self employed with repaying capacity are eligible for the loan
Quantum of Loan – up to 25 Lakhs
Margin – 15% for ready possession and 30% for under-construction of Flat/House
Guarantor – two guarantors are required
Terms – Maximum 15 years; Moratorium 6 to 9 months in case of construction
Others – Valuation to be done by approved Architect of the Bank; Title Verification to be done by Bank’s Advocate.
Advance to be given to the extent of 85% of the value; Home / Flat to be insured for full market value with Bank clause; Recovery through Post Dated Cheques / Salary deduction or SI on SB A/c; Registered mortgage of the property and all original title deed to be deposited with the bank