Home Loan (immovable property mortgage loan)

Purpose :
Construction of own house / Purchase of ready possession house / Flat/ Resale flat / takeover of Housing Loans from other Banks/Institutions.

Eligibility :
Salaried Employees / Businessmen / Professionals

Limit of Loan :
Max Rs. 50 lac

Repayment Period :
Maximum 20 years

Interest Rate :
10%

Security :
Equitable/legal Mortgage of house property to be purchased. Minimum 2 guarantors are required

Collateral security :
LIC policy/s NSC & KVP are required to be assigned in SVSP’s favour.

Documentation :

Duly signed Loan application form from Borrower and Guarantor.
Photo, Ration card, Pan Card, Aadhar card, latest Electricity bill, Gas Receipt, Office ID of Borrower and Guarantor.
Income Proof of Borrower and guarantor i.e. salary slips for last 3 months, Bank Statement for last 1 year, ITR and form 16 for last 3 year.
Legal Documents for creating mortgage as per requirement.
Builder or Society/MHADA/S.R.A NOC is require for legal documentation.
Visit Report of Managing committee and Property valuation report must be obtained from societies approved valuer.
Any other document which may be required by SVSP to consider proposal.
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Notice For Members

It is mandatory to all the members to become an "Active Member" by participating actively in the operations of the SVSP. To avail the status of an "Active Member", he / she must transact once in last five consecutive years by depositing Rs. 5000/- in any Fixed Deposits scheme or must avail a minimum loan of Rs. 5000/- from SVSP. He / She must attend at least two Annual General Meeting in last five consecutive years. Member should not be a Defaulter or Guarantor of any Default Member. If any member fails to fulfill the above criteria then he / she will be treated as "Inactive Member"
According to 97th amendment of Co-operative Society’s Act, he / she must submit KYC form and self-attested copies Pan Card, Aadhar Card, Office ID Card etc. along with the Membership Application. Hence we request all the members to submit the KYC form and co-operate with us.
All the members are requested to keep informed SVSP regarding their latest Residence Address, whatsapp number and e-mail ID, Office Address and legal heirs from time to time.(in case of any change)
For updating any new information to your account you can visit at any branch near you or you can go to 'Download section' of this website and download 'KYC Form'. Fill the form and send it to usalong with your self-attested documents.
Every Member must maintain minimum balance of Rs. 1,000/- in Savings Account and Rs. 1,000/- in Share Capital Account
Senior Citizen Members get extra 0.25% p.a. interest rate on their Fixed Deposits.
After Maturity of Fixed Deposits, Members are requested to renew them within 14 days of the date of maturity.
Auto renew function will not be applicable for investments made in special deposit scheme.

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Loan Interest Rate

Loan Type	Maximum Loan Limit	Loan Interest Rate	Loan Period
Home Loan (immovable property mortgage loan)	5000000	10%	240 months
Gold Loan	500000	10%	12 months
Personal Loan	100000	11%	36 months
Salary Deduction Loan	100000	10%	36 months
Higher Education Loan	750000	10%	60 months
Business Loan (Mortgage Loan)	1000000	12%	84 months
Mortgage Loan	5000000	10%	240 months
Unsecured Loan	500000	14%	60 months
Three Wheeler Vehicle Loan	150000	13%	36 months
Loan against Deposit	85% on Deposit amount	2% extra on deposit rate	Till deposit maturity date

Fixed Deposit

Period	Interest Rate	Senior Citizen
46 Days to 90 Days	4.00%	4.25%
91Days to 180 Days	4.50%	4.75%
181 Days to 364 Days	5.00%	5.25%
12 months to 24 months	5.50%	5.75%
25 months & above	5.25%	5.50%

Share Capital	1000/-
Saving A/c	1000/-
Entrance fee & other charges	30/-(GST Inclusive)
Total Rs.	2030/-(Two Thosand and thirty rupess only)