Loan Scheme for Earnest Money


Loan Scheme for Earnest Money

Beneficiery Any indiviuals of  21 years of age and above.
Purpose To meet the financial requirements towards earnest money deposit to book 
  residential plot/built house or  flats by Govt.Approved agency.
Loan Limit As per scheme of the bank
Rate of interest As fixed by bank.
Margin No margin money required.
Repayment In case of unsuccesful candidates -on receipt of refund from housing board/ urban development authorities etc. In case of succesful candidates -Lump sum Repayments. In case candidates avails housing loan from the bank, earnest money can be adjusted from the same.No pre payment penality will be levied.Bank may extent the periods at its discretion by getting the amount of interest in advance.In case of delay of allotment as per scheme borrower shall repay amount in Lump sum on demand, otherwise bank will charge penality
Collateral security No security is required
area of operation Loan shall be advanced in the area operation in the kapurthala district.
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