Gayatri Mortgage Term Loan
Facility: Term Loan
Purpose: Business Development/ Personal Needs
Eligibility :
Partnership firms, Limited companies, Individual, Businessmen, Government employees and Income Tax payer etc.,
Age of the Borrower: Between 21 years to 60 years
Security: Mortgage of Immovable Property
Loan Eligibility:
» Four times of the Annual Income of the individual for business. (Maximum EMI -50% monthly average income as per the Income Tax return)
» Three times of the Annual Income of the individual for other purposes. (Maximum EMI-50% of net Salary)
Repayment: Maximum 120 Equated Monthly Installments
Interest method: Diminishing Method
Basic Documents:
» KYC documents of Borrowers and Guarantors.
» Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
» Title Deeds of the property offered as security
» Other Documents As required.
Processing Fees: Nil
Terms & Conditions: As per Bank’s Loan Policy.