Mortgage Loan

A dream comes true! An ALL PURPOSE LOAN for anything that life throws up at you!! Do you need funds for a Marriage ceremony, want to take your family to a well-deserved holiday or for a sudden medical emergency? You have some property, but would rather not sell it? Then why not avail of this ALL PURPOSE LOAN from SSSBN?. SSSBN now makes it very much possible for you to only keep your property but also have liquid funds.

Enjoy the SSSBN Advantage:

  • Complete transparency in operations
  • Access this loan from our branches
  • Interest rates are levied on a monthly/daily reducing balance method
  • Lowest processing charges.
  • Long repayment period of 60 months, upto 100 months for salaried individuals with check-off facility
  • No Hidden costs or administrative charges.
  • No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.

Property Loan Scheme:

Avail of an All-Purpose loan against mortgage of any of your property. We offer you these loans at all our Branches.

Purpose:

This is an all purpose loan, i.e., the loan can be obtained for any purpose whatsoever.If amount of loan is Rs.20.00 lacs and above then purpose of loan will have to be specified along with an undertaking that loan will not be used for any speculative purpose whatever including speculation on real estate and equity shares.

Eligibility:

You are eligible if you are:

  • A. An individual who is;
    1. An Employee or
    2. A Professional, self-employed or an income tax assesse or
    3. Engaged in agricultural and allied activities.

    B. Your Net Monthly Income (salaried) is in excess of Rs.12,000/- or Net Annual Income (others) is in excess of Rs.2,00,000/-.

    The income of the spouse may be added if he/she is a co-borrower or a guarantor.

    C. Maximum age limit: 60 years. Salient Features

Loan Amount:

Minimum : Rs.25,000/-

Maximum : Rs.1,00,00,000/-.

Margin:

We will finance upto 60%-70% of the market value of your property.

Interest:

Term Loan : As per the Interest Rate Chart

Repayment:

Maximum of 120 equated monthly instalments, You could opt to divert any surplus funds towards prepayment of the loan without attracting any penalty. After 4 months of loan availed

Security:

As per banks extant instructions.

Mortgage Loan Interest Rate

Interest Rate Loan Amount Minimum Loan Amount Maximum Period of Term Note
  • 14%
  • 15%
  • 14%
  • Rs.50 Lakhs
  • Rs.50 Lakhs
  • Up to Rs.50 Lakhs
  • Up to Rs.2 Crores
  • Up to Rs.50 Lakhs (Purchase of Site)
  • 10 Years/ 120 Months
  • 10 years/ 120 Months
  • 10 years/120 Months