The Yavatmal Urban Co-operative Bank Limited – Mortgage Loan

By | June 7, 2011

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).

The bank is renowned for its products and services. The loan products of the bank include home loan, personal loan, educational loan, vehicle loan etc.

Purpose The loan is offered for any personal or business purposes

Eligibility                     – Salaried, professional or self employed

Quantum of Loan –           Maximum Rs. 10 lakh or 4 times net annual income which ever is less. Term loan up to 65% of valuation by panel valuer

Security –           property hypothecated in favor of Bank

Guarantor –           Two guarantors are required

Others                         – 3 years I.T. returns along with Balance Sheet and Profit & Loss account and last 6 months Bank statement; Property under HUF, in Joint name and HIBA not allowed;

Certificate of the Architect to be obtained as regards the life of the property and valuation;Registered mortgage with deposition of title deed; Property to be insured for its present market value with Bank clause;

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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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