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THE BHUJ MERCANTILE
CO-OP BANK LTD.
Purpose Purchase/Construction of house/flat/ takeover of housing loans.
Eligibility Salaried Employees /Businessmen/Professionals
Limit of loan 70% - 100% of Cost of House Property / Sale Agreement.
Basis of Advance Based on the Assessment of Credit-Worthiness of the Borrowers and Guarantors.
Repayment Period Maximum 20 years.
Rate of Interest

Loan Amount upto 25 Lakhs = 12.00%
Loan Amount Above 25 Lakhs = 9.90 %

(Subject to CRR System)

Processing fees As per policy of the Bank from time to time
Shareholding/ Membership Contribution As per Bank's Norms
Security Registered Equitable/ legal Mortgage of house property to be purchased.
Guarantors Minimum One guarantor as acceptable to the Bank.(with Acceptable net worth)
Documentation BMCB Checklist for Loan
  Loan Application Form
  3 Sets of KYC of Proprietor / All Partners / All Directors with Originals for Banker Signature
  ITR, SOI, BS, PL, Auditor Report, if any singed by Borrower and Verified by CA Certified for last 3 years
  Net Worth Statement of Borrower
  CIBIL Report
  Application for Membership with Share Certificate as per Internal Norms
  All Bank Statement with last 6 months
  Valuation Report
  Title Clearance Certificate
  Collateral Property Sale Deed & related documents (Society share certi, NOC, allotment & Possesions letter, BU permission)
  Municipal Tax Bill of Applicant property
  In case of takeover. NOC from prev. Banker
  Guarantor Documents
  3 Sets of KYC of Guarantors with Originals for Banker Signature
  ITR, SOI, BS, PL, Auditor Report, if any singed by Guarantor and Verified by CA Certified for last 3 years
  Net Worth Statement of Guarantor Certified By CA
  Whether Total Net Worth of Borrowers & guarantors is > 100% of loan Proposed?
  CIBIL Report of the Firm / Company
  CIBIL Report of all Concerned Persons
  Application for Membership with Share Certificate as per Internal Norms
  Municipal Tax Bill of Guarantor property.

 

 

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