Sahakara Mortgage Loan

Maximum amount ₹25.00 lakhs

Tenure of the loan: 120 months

Rate of interest: 11.50% -12.00% p.a

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Sahakara Mortgage Loan

As of my last knowledge update in September 2021, I am not aware of a specific term or concept called “Sahakara Mortgage Loan.” It’s possible that this term has emerged or become relevant after my last update, or it might be a term specific to a certain region or organization.
  • Can avail loan for meeting Business/ Marriage/ Education/ Health/ Repayment of higher interest obligation.
  • Longer tenure of repayment
  • Continued use of property
  • Quick approval of loan.
  • No prepayment/foreclosure charges
  • Individuals who have the title deed registered in his/her name.
  • Individuals (other than NRIs) from the age of 21 to 65 years whose maximum age on due date is not to be more than 75 years.
  • The prospective borrower/s should be a customer of our bank.
  • The prospective borrower/s should have the repayment capacity.
  • The income of Co-applicant/s shall also be taken into consideration for arriving the repayment capacity of the prospective borrower.
  • Minimum CIBIL Score is 650.
  • Minimum extent of property should be 50 sq.yards.
  • Amount of Loan: upto ₹5.00 lakhs
  • Tenure of the loan upto 120 months
  • Low processing charges
  • For Flats: The loan shall be considered 70% of the SRA value or 60% of the market value, whichever  is less.
  • For Independent Houses: The loan shall be considered 90% of SRA value or 65% of the market value, whichever is less
  • Rate of Interest:12.00% p.a

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To generate employment opportunities in rural as well as urban areas through setting up of new self-employment

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    What is a mortgage loan?

    A mortgage loan is a type of loan provided by banks or financial institutions to individuals or businesses to finance the purchase of real estate property, such as a house or land. The property being purchased serves as collateral for the loan.

    How does a mortgage loan work?

    When you take out a mortgage loan, the lender provides you with a certain amount of money to buy the property. You then make regular monthly payments, which include both the principal amount borrowed and interest, over a specified period (loan tenure) until the loan is fully repaid.

    What is the loan tenure for a mortgage loan?

    Mortgage loan tenures can vary, but common options are 15, 20, or 30 years. The length of the loan tenure affects the monthly payment amount and the total interest paid over time.