Housing Loan

Features & Benefits:

  • Attractive Interests Rates.
  • Balance transfer Facility.
  • Doorstep Service.
  • Minimum Documentation.
  • Nominal Prepayment Charges.
  • No Requirement of Income Tax Return.
  • Highest Loan to Value of 70% of the Valuation.
  • The rate of Interest for purchase of House will be @ 1.5% per month.
  • The rate of interest for Construction Loan will be @ 1.5% per month.

Requirements for Application:

  • Application form duly filled in.
  • Residence and Age verification, which may be established from the PAN card, Election ID, Passport, Driving license and Ration card etc.
  • Copy of approved plan and sanction letter from local civic authority.
  • Copy of NA permission.
  • One/two guarantor/s form/s and salary certificates. - If guarantor is in business, copies of I.T. returns or assessment orders for the last three years are required.
  • Bank Pass-book of statements for the last one year.
  • Latest salary slip/statement showing all deductions in case of employed applicants.

Additional Requirement for Housing Loan:

A. (In Case of Purchase From Builder)

  • Sales Deed.
  • Agreement for sale.
  • Registration receipt.
  • Copy of sanctioned plan & sanction letter of the competent authorities.
  • NA permission.
  • Receipts of payments already made.
  • NOC from builders in our format.

B. (In Case of Direct Allotment on A Co-Operative Housing Society)

  • Allotment letter.
  • Share certificate, Society registration certificate.
  • Copy of sale/lease deed in favour of the society.
  • NOC from society in our format.
  • Possession letter in original.
  • NOC from builders in our format.

C. (In Case of Resale)

  • Copy of all previous vendors agreements duly stamped and registered and the registration receipts. (Original to be given before disbursement).
  • NOC from Society/Builder in our format.
  • Original Share Certificate.

Terms & Conditions and Charges:

  • Initial login fee of Rs. 2100/- will be charged from the applicant.
  • Rs. 6,000/- will be deducted from disbursement amount on account of Processing Fees, legal and valuation charges etc. 
  • The rate of interest will be @ 1.5% per month.
  • Avail loan amount ranging from Rs. 25,000 to Rs. 2 Lakhs.
  • The valuation of the Property and related legal work will be done by PUSHTI NIDHI LIMITED through professionalsauthorized by the Company.
  • Mortgage Registration charges will be borne by the borrower.
  • The loan instalment will be paid on monthly basis.
  • Instalment Bouncing charges od Rs. 1,000/- per instalment will be charged to borrower for instalments bounced.
  • In case of non-payment of instalment for 12 months, the loan account shall be treated as NPA and necessary legal action will be initiated.
  • The expenditure on legal proceeding against NPA account plus due loan amount and 5% penalty interest will be recovered from the borrower.
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