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EXTENSION/RENOVATION/REPAIR OF HOUSE FOR STAFF (INCLUDING EMPLOYEES OF THE REGISTRAR COOPERATIVE SOCIETY, U.T. CHANDIGARH)

AMOUNT OF LOAN: RS. 10.00 LACS

Rate of Interest: 10 %P.A (Calculation of interest rests half yearly)

Terms and Conditions:

1. Loanee should be regular/permanent employee of the bank and Cooperative department, UT, Chandigarh and having 5 years of service.

2. 40% carry home salary should be maintained.

3. Maximum period of loan is 20 years or recoverable at the time of retirement from his/her retirement dues. The installments shall be calculated keeping in view the period of remaining service of employee.

4. Two good sureties and equitable mortgage of an immovable property.

5. Interest will be calculated on half yearly basis.

6. Estimate of cost of construction/purchase of flat/plot/built up house.

7. There is no need of collateral security up to loan amount of Rs. Five Lac and above five lac equitable mortgage of property is required.

8. Valuation certificate from govt. authority or govt. approved valuer or architect approved by the bank at the cost of loanee.