NSE: 

Property Power

Property Power

Now your Property can take care of your Personal, Business and family's needs. Your dream of building the business to new heights, consolidating debts, education of your children or even arranging funds for a marriage in the family can now be fulfilled with Property Power. With this facility, unleash the power you never knew you had!
 

  • Features & Benefits
  • Documents Required
  • Repayment options
  • Terms & Conditions
  • Quick loan processing
  • Individuals (Residents, Non-residents, PIOs) can apply for the loan
  • Longer repayment period-  up to 15 years
  • Lower Interest Rates & EMIs
  • Loan Amount up to Rs.5 Crore
  • Loan can be availed as overdraft as well as Term Loan
  • Minimal Paperwork
  • Surrogate Scheme for Self Employed Category available
  • Balance Transfer Programs with additional finance
  • Property Power is offered against residential premises, a plot of land or commercial properties as per your convenience.

*Conditions apply

KYC Documents

  • Two passport size photos each of the applicant/ and the co obligant
  • Identity Proof – Passport / Voters ID / Driving License/ PAN Card / Aadhaar Card
  • Address Proof – Passport / Voters ID / Driving License / Aadhaar Card
  • Age Proof – Passport / Birth Certificate / Driving License / SSLC or AISSE Certificate

Additional documents for Non Resident Customers

  • Certified copy of Passport, Visa, Work Permit, ID card

 

Income Documents

Resident Salaried

  • Latest Salary Certificate /  Salary Slip (3 months)
  • Copies of IT returns (2 years) or Form No.16 (2 years) 
  • Latest 6 month's Bank Account statement evidencing the salary credits

 

Resident Self Employed

  • Proof of Business existence & Business Profile
  • Last 12 months bank a/c statements
  • IT returns for 2 years supported by Balance Sheet, P&L Account for the past two years. Where ever available, Tax paid challans may also be collected OR Last 2 years IT returns supported by Tax calculation sheet & Tax paid challans

 

Non Resident Salaried (either of option1 or option 2)

  • Option 1
  • NRE account statement with any bank for last one year
  • Embassy / CRO certified Salary Certificate/ latest 3 months salary Slip OR Latest Salary Certificate / Slip (3 months) supported by 6 months Salary Crediting Statement
  • Option 2
  • Two years NRE a/c statement of the customer and/or resident accounts of spouse/parents (with us/ other Bank) in which remittance is made.

 

Non Resident Self Employed (either of option1 or option 2)

  • Option 1
  • Proof of Business existence & Business Profile
  • Last 12 months bank a/c statements
  • Balance Sheet, P&L Account for the past two years. Where ever available, Tax paid challans may also be collected
  • Option 2
  • Two years NRE a/c statement of the customer and/or resident accounts of spouse/parents (with us/ other Bank) in which remittance is made.

 

Property Documents

  • Documents of title *
  • EC for 13 years *
  • Possession certificate
  • Location sketch *
  • Land tax receipt
  • Building tax receipt ( if applicable )
  • Approved Plan

Repayment period for Property Power is maximum 15 years. Repayment of the loan can be made using any one of the ways:

Security

  • Mortgage of immovable property
  • Property in the name of close relatives also will be accepted
  • For granting Property Power to PIOs, the property shall be in their own names.

 

Insurance

  • Insurance options for Property Power Loan at attractive Premiums
  • Amount for insurance can be included as a part of our loan component subject to satisfactory repayment capacity & availability of required security margin as per norms.

 

Service Charges applicable

  • Processing Charges /Administrative Fee - 1% of the sanctioned limit (Any charge which may have to be incurred by the Bank over and above the Administrative Fee collected, with respect to processing/ sanction of the loan, will have to be met by the borrower).
  • Penalty for early closure- 2% of the balance outstanding or DP whichever is higher.

 

Other Conditions

  • Bank reserves the right to reject any application without assigning reasons thereof
  • The applicant will undertake to inform the Bank as and when there is a change in address or employment
  • The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.
Reviews
4.6
The average rating is 5 stars out of 5.
5 total
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3 1 
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Dil Mohan Mohanan
Sep 01, 2017

The average rating is 5 stars out of 5.

Simple, yet detailed !
Karthikeyan Thavasiappan
Aug 08, 2016

The average rating is 5 stars out of 5.

Fantastic website. easy to know the details about loan with out asking anyone... great work.
SUMESH
Jun 09, 2016

The average rating is 5 stars out of 5.

Excellent....
hariharan.P
Oct 13, 2015

The average rating is 5 stars out of 5.

5
saurabh srivastava
Aug 05, 2015

The average rating is 3 stars out of 5.

nice one..thumbs up .But please take more support of technology .Have expansion of your services to remote and rural areas also.
Showing 5 results.