VVCC Bank| SMSBanking
VVCC Bank| SMSBanking
Housing Loan

Eligibility of borrower
  • Having current / saving account holder of the Bank.
  • 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 80% of cost of construction or purchase value Maximum ` 70.00 Lacs.
Share Linkage Borrower must have Bank's Share Linkage @ 1% of the loan sanction amount.
Repayment period Maximum 240 months
Rate of Interest 08.90 % (WEF 01-11-2018)
Security Prime:
  • Simple mortgage property purchase/constructed out of the Bank finance
Collateral:
  • Third party guarantee of two personal guarantors having good Credit worthiness and financially sound and member of the Bank.

Principal / Collateral Security must be covered by insurance.


Applicable Approx. Charges for above facilities.

Title Clearance Report 2500.00
Valuation Report of Property Max 0.125% of Valuation Amount
Mortgage Charges
Legal Fees & Misc Charges 5500.00
Stamp Duty @ 0.35 % of Loan amount
Mortgage Registration Charge Max. Rs. 6000.00
Stamp charges for Loan Agreement @ 0.25% of Loan amount

VVCC Bank| SMSBanking