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Advances Land & Building


Significant Features:

  • Duration of Repayment is 180 Months
  • Rate of interest
  • Installment
  • Loan amount can 80 to 100 % of Market Value or Document Value as the case may be
  • Repayment capacity is 50% of total income and evaluation is based on the income of Applicant & Co-Applicant (Family Member)
  • 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% -

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