Net Banking
Net Banking
Mahanagar Bank offers easy and hassle-free Loan against Property at attractive interest rates. You can avail loan against residential or commercial properties at attractive rates of interest to both salaried and self-employed individuals.
Loan against fully constructed, freehold residential and commercial properties
Purposes:
Business Needs; Marriage, medical expenses and other personal needs
Transferring your outstanding loan availed from another Bank / Financial Institution
Longer tenure, smaller EMIs
Attractive interest rates
Easy and hassle free documentation
Simple repayments through monthly instalments
60% of the value of the property to be mortgaged (relaxation at the bank's discretion)
Upto 7 years (may be relaxed up to 10 years at the discretion of the bank)
Salaried employees/ Professionals/ Self-employed
Loans can be applied by Individuals either solely or jointly
Total deduction including deductions of LAP (installment & interest) to be meet from firm/company’s net cash accruals
Property should be in the name of the applicant his/her spouse or close relative as per Section 6 of the Companies Act 1956 or persons representing relationship such as Firm / Proprietor, Partnership / Partners, Company / Directors.
PROOF OF IDENTTIY
Aadhar Card / Driving license / Passport / PAN card/ Election card/Job card issued by Govt. agencies
PROOF OF RESIDENCE
Aadhar Card / Driving license / Passport/ Election card / Job card issued by Govt. agencies
PROOF OF INCOME - SALARIED INDIVIDUALS
Form 16A, Latest Salary Slip for 3 months, Salary bank account statement of last 1 year
PROOF OF INCOME - BUSINESS
Last 3 years Balance Sheets/Income Tax Returns and Salary/Business bank account statement of last 1 year
Title search and Valuation Report of Property to be purchased
Security/Mortgage documents as applicable