SMSO Mortgage Loan
SMSO is with you as a LIFE LONG PARTNER in your every need…
Are you looking to
- Expand your business?
- Get your beloved child married?
- Give better higher education to your children?
- Renovate your dream home?
Listen to the Colour of your dreams with SMSO Registered Mortgage Loan (RML).
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Like to know about any of our Loans or Deposits?
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Registered SMSO Mortgage Loan Features at a Glance :
- Higher loan amount upto a maximum of Rs.15 Lacs
- Benefits of lower EMI
- Payment at any of our branches
- Hassle-free documentation procedures
- Transparency
- Approval within days
- Flexible re-payment
- Multipurpose loan
- Loan for Businessmen, Professionals, Employed persons and Individuals for the marriage of children, higher studies of child, Medical treatment etc. who is having sufficient income to service the loan.
- Loan decided/granted on re-payment capacity and market value of the property.
- Attractive interest rate
- Simple and very speedy processing
- Repayment tenure up to 60 months and 84 months
- No foreclosure charge
- No Lock-in period of foreclosure
- Part payment allowed.
- Age of the building no bar
Rate of Interest
- Interest rate @ 14.5% per annum
- Repayment of instalments through any of our branches
- Property situate in Corporation or CMDA / Municipality limits
- No Penalty for pre-closure
- Equated Monthly Instalments (E.M.I.) for Rs. 1,00,000 /- for:-
- 5 year tenure : Rs. 2,350 /-
- 7 year tenure : Rs. 1,900 /-
- Service charge @ 1% on the loan amount
- GST @ 18% on the service charge
Property Documents required for registered SMSO Mortgage Loan
- Parent document of the property.
- Sale deed of the property.
- Encumbrance certificate for a period of 33 years.
- Upto-date Property Tax Receipt.
- Upto-date Electricity Bill & E.B. Card.
- Income proof of all working individuals in the family
- Photo of the Property in an elevated Front view and a Photo covering the inner view.
- Any other document that may be considered necessary after scrutiny.