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%

-