Synd Mortgage - Syndicate Bank
For any genuine business / personal credit needs /Consumption Purpose
(Not for speculative and specifically prohibited purposes
a. Term Loan for consumption and business purpose
b. Overdraft facility for business purpose
Bonafide owners of residential or commercial property standing in their own name
Salaried class and Non Salaried Class
: 10 times the Net Annual Income
Non salaried: 10 times the Gross Annual Income based on the three years average
income, IT return of last 3 years compulsory
Both Salaried and Non salaried: Clubbing of spouse income backed by IT return.
For Consumption purpose: Maximum Ceiling is restricted to ` 100.00 lakhs.
For business purposes, up to `500.00 lakhs –Under Retail Credit
However, no maximum ceiling is prescribed for business purposes other than
Real Estate .
Party having adequate net worth and acceptable to the Bank.
Salaried Class: In equated monthly installments not exceeding 120 months for
Salaried class persons.
Non Salaried Class: Repayment Schedule may be fixed at monthly/quarterly/Half
yearly /Yearly intervals based on the type of activity the borrower is engaged and
income generation in case of Non Salaried persons, with maximum period of 120
Linked to Base Rate, Monthly compounding.
For loans up to 5.00 crores- MCLR+2.75%pa.
For loans above 5.00 crores-MCLR+3.00%pa
As applicable from time to time