- 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 maximum period of the loan is 60 months.
- The Value of the property and the legal clearance are done by approved Valuer and the Advocate in the panel respectively.
- 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.