Advance Land & Building

Significant Features:
1. Duration of Repayment is 180 Months
2. Rate of interest
3. Installment
4. Loan amount can 80 to 100 % of Market Value or Document Value as the case may be
5. Repayment capacity is 50% of total income and evaluation is based on the income of Applicant & Co-Applicant (Family Member)
6. If Property is located at Nagarpalika then Advance will be furnished.

Type Of Applicant:
Minimum Requirements

–KYC Docs are Mandatory
–Applicant has to be RNSB Shareholder (If not then they may subscribe for the same)

Service Class Applicant

– Form 16 or Salary Slip (Last 3 Month)
– Confirmation from employer for allowing deduction of EMI straight from the salary.

For Proprietor / Partnership / Company / Professional / Vocational

– Self Declaration of Income
– Financial Statement (Last 3 Years)
– Income Tax Return (Last 3 Years)
– Shop Act License
– VAT / CST / SSI Certificate
– Service Tax Certificate
– Partnership Deed – Latest
– Registrar of Firms
– Certificate of Incorporation
– MOA or AOA

Guarantor Compliance

If one guarantor want to furnish then Guarantor must has immovable property, otherwise furnish Two Guarantor.

Purpose based rules:
Construction Work

– Estimate of Cost of Construction.
– Authorized / Approved Plan.
– Requisite Permission

Purchase

– Recent Document Deed (Register within 1 Years from the Date of Application)
– Satakhat (Register within 1 Years from the Date of Application)

Interest on Loan

  Sr. No.

Type Of Loan

Collateral /Proportion of Extra Security and Interest Rate

 

 

High Net worth
(HNI group)
350% or more
Extra Security

  Special Platinum
Group
250% or more
Extra Security

Platinum
group
100% or
more
Extra Security

Gold group
100% or more Extra Security

Silver group
Less than 100% Extra Security OR specified group

(A)

Industrial Loan

1

Cash Credit Hypothecation / Pledge

12.00%

12.50%

13.00%

14.00%

15.00%

2

Term loan/Demand Loan

 

 

 

 

 

 

(i) Industrial Machinery/
Truck/Vehicle/Household
Articles etc.

12.00%

12.50%

13.00%

14.00%

15.00%

 

(ii) Easy Loan

-

13.50%

14.00%

14.50% Only easy loan upto ` 5 Lac (Minimum margin – 125%)

-

(B)

Permanent & Schematic Loan           Margin 50%                  Margin 40%       Margin 30%   Margin 20%           

1

Industrial Buildings

12.50%

13.25%

14.25%

14.75%

-

2

Purchase/Repair of Buildings

-

14.00%

15.00%

15.50%

-

Rajkot Nagarik Sahakari Bank Ltd:

Rajkot Nagarik Sahakari Bank’s aim is to provide a WORLD-CLASS Banking facility to the common people of the society at a economical rate,so as to be a preferred provider of the banking services in the area where bank operates and to achieve a healthy growth in profit, which will be partly used for the benefit of society and for upliftment of masses & the general growth of co-operative movement. The bank is committed to the highest level of ethical standards,professional integrity and regulatory compliances. Our bank’s business philosophy is based on following core values, Operational Excellence, Customer Focus and Upliftment through Co-Operation.