DNSB Top Up Loan

1

Eligible

Borrower

Any individual – Businessman, Professional, Self-employed, or Salary Earner who have availed Housing Loan from our bank and availing housing loan from our bank.

OR

Any person who wants to take over his/ her / their Housing Loan & Mortgage Loan from other bank/ FI/ NBFC and want to avail top-up loan, subject to

            i. Repayment of existing loan should be regular.

            ii. Both CIBIL Scores should be above 700

            iii. Disbursement of DNS Top Up Loan should not be made to builder or vendor of flat.

Amount of Housing Loan and DNS Top Up Loan should not exceed Rs.70.00 lakh.

2

Purpose

         · Furniture & Fixture, interior decoration, House Repairs.

         · Business expenditure including expenditure for acquisition of assets (other than purchase of land)

         · Medical expenses

         · Marriage expenses

         · Expenses for family functions.

         · Education Purpose

         · Any other bonafide purpose acceptable to bank.

No loan should be granted for land/ Plot purchase and for speculative purpose.

3

Maximum Limit

Rs. 25.00 Lakh only

4

Margin

30% on Fair Market Value

5

Rate of Interest

0.50 % p.a. additional over and above ROI of Housing Loan & for New DNS Top Loan additional ROI @1.00% to be charged over and above housing loan ROI)

6

Repayment

Period

Maximum 180 months

7

Security

The charge over the Immovable Property– Flat, Row House, Bunglow etc.

8

Valuation of Property

Valuation report from our paneled valuer. Valuation report not more than 3 years old can be considered for DNS Top-Up Loan.

9

Documents Required of Borrower & Guarantor

      1. KYC Documents (Pan Card & Aadhar Card)

      2. Income papers viz. for business person copy of last 3 years ITRs & for salaried person copies of latest 3 month’s salary slip & Form No. 16/ITRs for last 3 years

      3. Bank Statement for last 6 months

      4. Sanction letter & Statement of all loans availed from the date of disbursement to till date

      5. Following documents to be obtained for takeover of existing Top Up Loan from Bank / Financial Institute

         a. Sanction Letter

         b. Updated Loan account statement

         c. Letter of Financer stating

            · List of Original Documents in their custody duly certified the financer

            · Latest Foreclosure Balance of said loan account

10

Guarantor

One Guarantor is sufficient for the Top Up Loans to be sanctioned with guarantor.

(In case of Loan to be sanctioned without Guarantor Residual income of applicant should be Rs.20,000/-.)

11

Processing Charges

@0.50% of the Sanctioned Loan Amount.