Requirements
- Member of the Belagavi Shree Basaveshwar Co-Operative Bank Ltd.
Holding either single account or joint account with other family members’ viz., father, mother, wife, son or daughter with regular source of income.
- Individuals who may be employed/self-employed in business having regular income.
Permanent employee of Central/State/Defense/Police Force/Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having regular income.
- SMS Alerts for Transactions.
Purpose of Loan
- Construction of Residential House.
Budget of Finance
- Need based finance and repayment capacity.
Repayment Details
- By EMI
- The maximum repayment period should not exceed 15 years.
Other Features
- No prepayment penalty
- Insurance facility against Personal Accident (Death)
- Flexible repayment schedule
- Interest on a daily reducing balance basis.
Criteria for Loan Sactioning
- Application in Prescribed form
- Two photographs of Borrower and Guarantors
- Address proof of Borrower and Guarantors
- Income proof, Copy of Income Tax Return, Financial Statement of the Firm, Sales Tax returns etc.
- Profile of Guarantors.
- Loan should be guaranteed by two financially sound members having net individual worth twice the loan amount.
- 7/12 (Right of Records) or CTS extract of property to be offered for mortgage, Map of the Property, Khada Khod Utara issued by the authority.
- NIL Encumberance certificate for 14 years.
- Permission copy.
- Building Plan and Estimation.
- Original Title deed of the property.
Officially Valid Documents
Two latest passport size photographs and any one of the officially valid documents as Identity and Address proof from the list below,
- Aadhar Card
- PAN Card
- Voter's Identity Card
- Driving License
- Passport
- Ration Card
- Electricity Bill
General Rules
- Bank reserves the right to alter, revise and cancel the rules from time to time.
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