| Key Benefits |
 Ideal use of idle property - Generate additional income from an otherwise idle property.
Withdraw money as per your need and save on interest cost.
Deposit surplus money / regular income / salary and save interest as applicable on overdraft account.
Flexibility to withdraw money deposited earlier.
Can be availed either as overdraft or term loan as per your need. |
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Salient Features |
Maximum Limit:
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Rural areas |
Rs. 5 Lac |
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Semi urban areas |
Rs. 25 La |
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Urban areas |
Rs. 50 Lac |
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Repayment:
Overdraft: After 3 years 15% reduction in operating limit every year.` |
Term Loan: 60 to 84 EMIs |
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| Easy Documentation |
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| Mortgage loan from other banks can be taken over |
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| Terms & Conditions |
Eligibility:
Salaried Employees / Professional, Self Employed & Other income tax assesses for last 3 years, between the age group of 21 and 60 years in case of Salaried Employees and 65 years in case of others.
Income Criteria:
The maximum amount of loan will not exceed the following:
1. Salaried: 36 times of gross monthly income
2. Others: 4 times of net annual income |
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| Documents Required: |
I.T. returns for past 3 years |
Latest income tax assessment order (for overdraft amount of over Rs. 5 Lacs) |
Form 16 along with salary certificate from the employer (in case of Salaried) |
Original title deeds of the property offered for equitable mortgage |
Paid receipt of latest maintenance, water tax, municipal tax and any such taxes. |
Permission to create Equitable Mortgage from society |
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For more details, kindly visit a Baroda Rajasthan Gramin Bank Branch nearest to you. |
