The Surat Mercantile Co-op. Bank Ltd.
The Surat Mercantile Co-op. Bank Ltd.
RBI Lic No: UBD GUJ 1562

Home Loan

Eligibility of borrower :
  • Borrower must be a member of the Bank.
  • Have good reputation and credit worthiness.
Purpose of Loan : Purchase/Construction of residential building for his own use.
Quantum of finance : Up to purchase value ( 80% of Sale deed) & 70% of Construction work) Maximum Rs. 30.00 Lacs.(Repairing purspose Rs. 5.00 lac)
Share Linkage : As per bank rules
Repayment period : Maximum 180 months
Rate of Interest :

9.25% P.A.
Security :

Prime :

  • Registered mortgage  property purchase/constructed out of the Bank finance.

Collateral :

  • Third party guarantee of one personal guarantors  having, own property & good Credit  worthiness and  financially sound  and member of the Bank.
    • (B.O.D. reserves right to change according to repayment capacity of applicant).

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