Amount: Rs. 1.5 times of net annual income or Rs. 10.00 Lacs, Whichever is less.
REPAYMENT: 7 YEARS IN EMIS
i) Loanee and guarantors should be resident of Chandigarh.
ii) Loanee and guarantors should be nominal member of the bank.
iii) Two good surety known to the bank
iv) 5 Advance cheques in favour of bank.
v) Bank statement of last 6 months.
vi) The project should be located in Chandigarh.
vi) Collateral security in the form of Land/Building, NSC/KVP/LIC Policy/Bank Deposit. The valuation of the collateral security shall be 150 % to the loan amount.
vii) If loanee secures the repayment of loan amount against an immovable property, the immovable property shall be mortgaged by an equitable mortgage.
viii) Valuation certificate from govt. authority or govt. approved valuer or architect approved by the bank at the cost of loanee.
© The Chandigarh State Cooperative Bank Limited Chandigarh,2014