Mortgage Loan can be availed by members on the security of land and building.
The loan is assessed on the basis of repayment capacity of the member.
The Value of the property and the legal clearance are done by approved Valuer and the Advocate in the panel respectively.
The maximum period of the loan is 60 months.
Installment and interest have to be remitted on every month.
Interest rate is 18% p.a. for 3 years tenure and 20% p.a. for 5 years tenure.
Non- payment of Installment and interest will attract penal interest at 2%
Expenses viz. valuation, legal opinion charges, registration charges, processing charges are to be borne by the applicant.