Sanmitra Sahakari Bank Ltd. offers an "Immovable Property Loan" scheme, which is a type of loan against property (LAP). This secured loan allows individuals to obtain a credit facility by mortgaging their residential or commercial property. The funds can be used for various purposes like business expansion, education, or personal needs.
Key Features of the Loan
- Interest Rate:
- Repayment Tenure:
- Processing Fees:
- Loan Purpose:
General Eligibility and Required Documents 📄
While the bank's website doesn't provide a detailed list of eligibility criteria, such as age or income requirements, these are the typical documents and qualifications needed for a loan against property from most financial institutions.
Eligibility
- Applicant Type: Salaried or self-employed individuals.
- Property Ownership: You must be the legal owner of the property being mortgaged.
- Clear Title: The property should have a clear title and be free from any disputes or encumbrances.
Required Documents
Identity and Address Proof (e.g., PAN Card, Aadhaar Card, Passport, Voter ID).
Income Proof:
- For Salaried Individuals: Last 3-6 months' salary slips, last 2 years' Form 16, and bank statements.
- For Self-Employed Individuals: Last 2-3 years' Income Tax Returns (ITR), audited balance sheets, and profit and loss statements.
