Regd. Office: 9C-A, Madhuban, First Floor, Udaipur 313004, Rajasthan
Registration NO.: 03/08/1972 No. 1557 Y RBI LIC. NO.: 04/01/1975 No. 52 P
     Mortgage / Secured Loan

     This scheme provides loan / overdraft facility against mortgage of property at low rate of interest. The product provides an opportunity to customers to borrow against a fixed asset (mortgage of property) at a short notice without much paper work/attendant hassles.

     The scheme is for people engaged in trade, commerce & business and also professionals & self employed, Proprietorship Firm, Partnership Firm, Companies, NRIs and Individuals with high net worth including salaried people and staff members.

A ) To meet the credit needs of trade, commercial activity, other general business, Profession as also for their bonafide requirements;
B ) To meet marriage or medical or educational expenses of family members including near relatives;
C ) To undertake repairs / renovation /extension to the residence / commercial property;
D ) To purchase of 2/4 wheeler vehicles, consumer durables;
E ) To purchase / construct house / flat, purchase of plot;
F ) For going on pilgrimage / tours/ excursions, etc;
G ) Repayment of existing loans from other Banks / Financial Institution.
Who are eligible

People engaged in trade, commerce and business, Professionals, Self-employed, Proprietorship Firms, Partnership Firms, Companies, NRIs, Individuals with high net worth, Salaried people, Staff members. HUF not permitted.

Type of advance

Term Loan / Overdraft (reducible as per repayment schedule).
Overdraft facility (not reducible as per repayment schedule)
can also be permitted to eligible customers (other than salaried people).

Quantum of advance:
(Rs. in lac)
  Minimum Maximum
Individuals / Proprietorship Firm 1.00 50.00
Partnership Firm / Company 1.00 100.00
Calculation of quantum of advance

The sanctioned limit is to be related to the value of security & repayment capacity of borrower, subject to:

i) Salaried employees:

     a) 48 times of monthly net emoluments (take home salary) OR
     b) 4 times of net annual income with other rental income from property etc. based on
          Income-tax returns (Average of Last 2/3 years).

ii) Self-employed / professionals / individuals engaged in trade / commerce/ business:

     Four times of their net annual income based on income-tax returns (Average of Last 2/3 years).

iii) Proprietorship / Partnership Firm / Company:

     Four times of Cash-accruals (i.e. PAT+ Depreciation) as per their Audited Balance Sheet/ P&L Account ( Average of Last 2/3 years)

For individuals:

     While fixing the limit, it is to be ensured that the net take home pay (net of EMI (notional EMI in case of non reducible OD) of proposed advance is not less than 40% of gross income of the applicant.

For Proprietorship / Partnership firm / Company:Minimum DSCR is 1.5

     Limit prescribed would be subject to a Maximum of 70% in case of salaried employees and 60% in other cases of value of property or eligibility level, whichever is lower.
Salaried Employees :- 30% *
Others :- 40% *
Rate of Interest & Processing Charges

For Individuals / Proprietorship Firms:

Term Loan Rate of Interest Processing Charges#
Repayable up to 3 years BPLR+0.5% 1% of Loan amount
Repayable beyond 3 years BPLR + 1% 1.5% of Loan amount
Overdraft facility (Reducible) up to 3 years BPLR + 1% 1% of Loan amount
Overdraft facility (Reducible) beyond 3 years BPLR + 1% 1.5% of Loan amount
Overdraft facility*(Non-Reducible) BPLR + 1% 0.5% of Loan amount
*Initial sanction for 12 months and renewal / review annually.
# Processing Charges; Maximum Rs.25000/-
For Partnership Firms/Corporates –
Processing charges will be 150% that of applicable to individuals.
Charges for deviation from scheme norms
For every item of deviation from the scheme norms – One time 25% of the applicable processing charges Minimum Rs.500/- & Maximum Rs.6250/- per account
In accounts where non-reducible Overdraft facility is not proposed: Within a period of eight years by way of EMI. The repayment shall commence from the month subsequent to the month of disbursement.
Equitable / Legal Mortgage charge over property in the name of applicant(s) or his / her / their spouse or parents or third party. The owner(s) of the property to be mortgaged should be either a borrower / co-borrower(s) or guarantor(s).
a) The property offered should be a residential or commercial building or a plot of land (residential / commercial);
b) The property should be self occupied or vacant or leased out to acceptable individuals, government agencies, PSUs, Corporates, etc;
c) Agricultural land is NOT accepted as security for this facility.
Documents charges, Advocate fee, Architect fee etc. on actual basis. Loan agreement copy charges: As applicable
Personal Loan
Secured Loan
Housing Loan
Business Loans
Vehicle Loan
C.C / Hypo Loan
F.D / O.D Loan
Education Loan
Interest Rates