THE MAHANAGAR CO-OP BANK LTD

Housing Loan

Who can apply

· Professionals / Self Employed / Salaried

· Business Men

Purpose

· To purchase / renovate a House

Maximum Limit

· Rs. 35,00,000/-

Repayment

· 120 or 180 Equated monthly installments

· For businessmen 120 installment

Securities

· Minimum two Sureties out of which one should be an income tax payer.

· The Borrower and all the sureties should be Regular/Nominal members of the Bank.

· The house for which loan is sanctioned.

· Collateral security

Documents Required

· Loan application

· Residential proof of Applicant and sureties

· Certified Balance sheet and Profit & Loss A/c. Statements of the borrowers and sureties other than salaried persons.

· Income Tax Returns of last three years of the Borrower(s) and the sureties.

· All the original documents related to house with Tile Clearance Certificate.

· Latest valuation report of property, vehicle etc.

· NOC of Society, Builder, CIDCO etc., is required.

· In case of old house valuation report is required.

· Any other document required by bank.

How to become a Member:-

1. Only the person who is applying for a loan can become a member of the Bank

2. Only the person who is having a Saving Bank or Current Account in our any Branch.

3. The above account must be operative for a minimum six month.

4. Only a person who is having a source of income to avail a loan.

5. Only a person who is having a proof of residence.