OVERDRAFT AGAINST PROPERTY - ODAP – FOR INDIVIDUALS
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Purpose
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- To meet the emergency Personal/Family needs of the Resident
- Individual.
- To meet the emergency family needs of NRIs.
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Target
Customers
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- Salaried Individuals
- Business Class
- Agriculturist
- Pensioners
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Age
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Minimum
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21Years
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Maximum
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70 Years
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Amount
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Minimum
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Rs 3.00 lacs
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Maximum
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Rs 100.00 lacs
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Tenure
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Limit validity for three years
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Margin
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From 40%-60%
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Interest rate
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Attractive interest rate from MCLR (1 Year)+ 2.00% |
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Eligibility
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Minimum Bureau Score of 500 for applicant/ Co-applicant |
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Features
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- Wide range of properties accepted (Semi urban/Urban/Rural/Panchayat/Municipality/Corporation).
- Special attractive interest rates and Processing Fees for Government employees
- Limit validity for 3 years, no hassles and headaches of yearly renewals.
- Wide range of properties accepted
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Processing fees
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Processing Fees of up to 1%
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Pre closure charges
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- 2% on the sanctioned limit to be collected compulsorily if closed out of own funds within 2 year of fresh sanction/renewal.
- In case of takeover, 3% of sanctioned limit to be collected as pre-closure charges
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Documents required
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Salaried Class
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Business Class
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Pensioners
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KYC Docs (PAN Card and Aadhar Card and Photographs)
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KYC Docs (PAN Card and Aadhar Card and Photographs)
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KYC Docs (PAN Card and Aadhar Card and Photographs)
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ITR for the two years with computation sheet
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ITR for the two years with computation sheet
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ITR for the two years with computation sheet
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Salary Slip/Pension Statements for 3 months deed etc to be taken
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Recent financials
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Salary Slip/Pension Statements for 3 months
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Account Statement for 6 months
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Account Statement for 6 months.
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Account Statement for 6 months
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Financials of the firm
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Title deeds, Possession Certificate, Tax Paid Receipts
Proof of agricultural land holdings, ITR if any. Assessment will be based on analysis of agriculture profile
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