TJSB NRI Property Loan

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TJSB NRI Property Loan is a scheme for the NRIs who want to invest back home in properties such as flats, shops and offices, etc.
  1. Term Loan for Purchase/Acquisition of Shops/Offices/Commercial premises,etc. for self or business purpose
  2. Loan Limit : Maximum upto Rs. 100 Lacs
  3. Pre-payment Penalty:Nil
  4. Rate of Interest : 9.75%*
  5. Repayment Period :Maximun 120 months (Moratorium period maximum 18 months*)
Individual Non – Resident Indian (NRI)/OCI card holder defined under FEMA / Income Tax Act
  1. Applicant :
    1. Salaried persons : Confirmed service/contractual service for atleast 3 years
      Businessman/self-employed/professionals : Establishment of minimum 3 years
  2. Co-Applicant :
    1. A resident Indian preferably spouse/parents/"close relative" as defined in Companies Act
Applicant (NRI Borrower) :
  1. A) Basic Documents :
    1. i) Passport copy with page containing visa stamping/copy of overseas citizen of India (OCI) card
      ii) Copy of valid work permit
      iii) Employment contract copy (If the contract is in any other language, then an English translation duly attested by employer/consulate/embassy office).
      iv) Copy of identity card issued by employer
      v) Copy of proof of residence in India (As per KYC guidelines)
      vi) Copy of continuous Discharge Certificate if employed in merchant navy.
      vii) If applicant is of PIO (Person of Indian Origin), one of the following additional documents is needed-
      1. a) Copy of Current Passport indicating birth place
        b) Copy of Indian passport, if held earlier
        c) Copy of relevant pages of Passport of parents or grandparents, establishing their Indian Origin
  2. B) Income Documents :
    1. i) Latest salary certificate in original or proof of income incase of self employed/professionals e.g. IT Return (of the residing country of NRI)/Tax Residency certificate.
      ii) If he/she intends to start business with his resident close relative, project report and estimation for tenure of loan
  3. C) Co-Applicant (Resident Indian) :
    1. i. Income Proof of Applicant(s) & Guarantor(s)
      ii. Residential Proof of Applicant(s) & Guarantor(s)
      iii. PAN Card of Applicant(s) & Guarantor(s)
      iv. KYC of Applicant(s) & Guarantor(s)
  4. Prime Security:Equitable/Registered Mortgage of Shops/Offices/Commercial premises
  5. Guarantors :One acceptable guarantor of Good Net worth who are resident Indians, other than Co-owners & Security Holders*
  6. Other Charges : Franking/stamp duty charges, CERSAI, filing mortgage,insurance of property
  1. Borrower & Co-Borrower : Regular membership fees
  2. Guarantors : Nominal membership
** Conditions Apply. Loan at sole discretion of the Bank”

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