Purpose
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- Any bonafide purpose other than speculative
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Age of applicant
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- Entry age is 18 years and exit age is 70 years
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Eligibility
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- Salaried: Permanent employees of Govt. / Pvt. / Public Ltd companies with min. 3 years completed service
- Others: Self employed / Professionals / Traders / Business men who are Income Tax Assessees
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Income Criteria
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- Salaried:Minimun salary of 15000/-
- Others: Installment should not exceed 50% of Net profit and Depreciation amount
- Agric. Income to the extent declared in IT return or as per Tahasildar certificate. Spouse income can be added
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Take Home Pay
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Location of Property
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- Property should be in urban or semi urban area or situated in identified centres
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Margin
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Security
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- Mortgage of property should be in urban or semi urban area or situated in identified centres or buildings in rural areas
- In case of property is owned jointly all the joint owners have to apply for loan or one of them can avail loan with NOC from other co-owners and co-owners to offer personal guarantee
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Security coverage
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Maximum Loan
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Repayment
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- 84 EMIs - No holiday period
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Rate of Interest
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Guarantee
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- Suitable guarantee from acceptable persons
- In case of joint property the guarantee of co-owner should be obtained
- Guarantee by spouse of owner of property is compulsory
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