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).
Purpose – The home loan is offered for the Purchase/Construction of Flat/Independent Banglow
Eligibility – Salaried, professional or self employed with repaying capacity are eligible for the loan
Quantum of Loan – Maximum Limit will be as per Exposure Norms
Margin – 15% for ready possession and 30% for under-construction of Flat/House
Guarantor – Two guarantors are required
Period – Maximum 13 yrs. / Maximum moratorium 18 months or date of possession, which ever is earlier
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.