You need to carry a Membership Number, Self-attested Identification Proof, containing your signature and Address Proof to avail of Property Loan / deliverable along with a written request through Loan Application and produce the required documents. If you want to change your address / contact details, you need to submit an address change request along with a Self-attested copy of your address proof. The Request form for Address Change is available on the Form Centre of Society’s website. Self-attested Identification Proof containing your signature.

Equitable Mortgage of Property acceptable to the Society having clear marketable title. You can provide your self-occupied Residential, Commercial property (Shops and Offices) as collateral.

You can get a Loan against Property up to a maximum of 65%* of the Sub Registrars value (S R Value) of your property or Rs. 50 Lakhs whichever is less.

* Conditions apply

We offer Property Loans to the following:

1. Salaried individuals in the age group of 21 to 60 years (at the end of the Tenure)

2. Self-employed individuals in the age group of 21 to 65 years

The basic documentation includes KYC’s like Identity and address proof. Apart from KYC, banking and salary or income documents are required depending upon applicant’s profile.

Guarantor/s is required compulsorily for Property Loan. Guarantor is a person who guarantees to pay for someone else’s debt if he or she should default on a loan obligation. Personal Guarantee from person/s of adequate net worth acceptable to the Society.

A right over the security is created in favour of Society by way of Mortgaging the Property.

Hence, the mortgaged property cannot be sold or transferred by the Loanee/Mortgagee. Primary security of Mortgage Loan (to be taken over) is not extended to secure any other credit facility other than the existing Mortgage loan.

You can take a loan ranging from Rs. 5,00,000/- to Rs. 50,00,000/

You pay the loan in equal monthly installments (EMIs). The loan will be paid through post-dated cheques or by RTGS/NEFT/IMPS to Society’s Bank Account.

You can also pay through ECS or a standing instruction to debit your Bank account with the EMI amount.

Post Dated Cheques (PDCs)/Security Cheques*** submitted towards loan repayment that have not been encashed, will be retained by the Society till the loan is closed.

***Security Cheques: You need to issue 15 security cheque for every Equated Monthly Installments (EMI). The amount on each security undated cheque should be equal to the EMIs.

You can repay your Property Loan in any of the following two ways: Standing Instruction (SI): This mode can be used if you have an existing Savings, Salary or Current Account with our Society.

Your EMI amount will be debited automatically on specified due date from the account you specify.

Yes, you can choose to repay your loan anytime after 3(Three) months of taking the loan and after you have paid 3(Three Months) EMIs. Please note Loan can be foreclosed by issuing a Demand draft / cheque at the branch; kindly note that cash beyond Rs. 20,000/- will not be accepted for loan repayment against part prepayment/ full payment / matured loan closure payment.

Any payment above Rs. 20,000/- should be made vide Account payee Cheque / Pay order /Demand Draft/RTGS/NEFT/IMPS.

Yes, for Property loans availed, you can close your Vehicle Loan account in Part after completion of 06(Six) EMIs from Loan disbursement. Part payment is allowed.

Note that Part-payments are guided by applicable Terms and conditions from time to time as decided by the Board. For more information, please contact the office.

No additional charges are applicable for closure of or early repayment

Xerox copies of Sale Deed, Mother Deed, Encumbrance Certificate of Last 15(Fifteen) years, Last 3(Three) years Tax Paid Receipts and any other documents may require for completion of legal formalities.

Property Loan is primarily taken for Business Expansion, Repair of Residence, Children Education and Marriage, Purchase of Property.

Property Dealing/Broking/Real Estate, Share Trading/Broking and any other speculative activity should not be considered.

No additional charges are applicable for closure of or early repayment

Tax Benefits can be enjoyed, but we strongly recommended you to consult to your Tax Consultant for this.

In order to change your address in our records, you may visit the nearest Society’s Office and submit the following documents:

• Request form for Address Change.

• Self Attested copy of your revised address proof along with the original address proof for validation.

• In case a bearer submits the request on your behalf, a bearer authorisation along with KYC documents (self attested copy and original for validation) of the bearer, i.e. Identity and Signature Proof like PAN Card, Aadhar Card, Driving License or Passport Copy will also need to be provided.