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ARUNACHAL PRADESH STATE CO-OPERATIVE APEX BANK LTD

(Sponsored by Government of Arunachal Pradesh)

Head Office :: D-Sector, Naharlagun, District : Papum Pare, Arunachal Pradesh - 791 110

NSTFDC     CMFMP     Micro Finance SHG

HOME LOANS

The Apex bank Home Loan for construction or Renovation of residential buildings, Purchase of Flats/Readymade Buildings or Land for construction of house against the Mortgage of the Landed property.

Eligibility
A salary earner person with a regular service or with a regular source of income with proof of such income and residing in the area of operation of the financing branch.The applicant must produce copy of Income Tax returns of Last three years or Income Tax Exemption Certificate.

Loan will be sanctioned even if the property is in the name of spouse, provided the spouse mortgages the property to the bank and also guarantees the repayment of loan along with interest.

Loans will not be given to persons above the age of 55 years.

If the person is Non-Salaried the maximum period of repaymentshould be repaid before the applicant reaches the age of 65 years. And in case of salaried persons, the loan should be repaid before the retirement of the applicant from the servicesand with a provision of extend by another 5 years if necessary.

Maximum Amount
75 % of the cost of the building/Land subject to maximum sealing of Rs 25.00 Lakhs

Repayment Period
Maximum 240 Months with a Moratorium period of 1 month to 18 month

Rate of Interest
11% per annum

Processing Charges
1.00% of the loan amount.   

 Required Documents

  • Pre Sanction documents
  • Application in prescribe form with PP photograph
  • Clear title of the Land and/or building/flat.
  • Valuation Certificate
  • Drawing and estimate of the building.
  • Non encumbrance certificate
  • Mortgage Clearance certificate
  • Permission for construction of Building.
  • Salary or Income Certificate for Last 3 months
  • Bank Account Statement for last three months.
  • No Due certificate from other Banks.
  • Post Sanction documents
  • Letter of Acceptance from both borrower and Guarantor.
  • Promissory note
  • Mortgage Deed
  • Loan agreement
  • Acceptance letter
  • Proper KYC Documents.
  • Pro-note and letter of guarantee shall be executed by surety/Guarantor.
The applicant should provide copy of property insurance policy up to 150% of the loan amount.