Purpose
Acquiring another asset, for any other purpose, but end use should be ensured.
 
Limit of Loan
Minimum - Rs.2 lakhs
Maximum - Rs. 50 Lakhs

Basis of Advance
a) 25 times of net salary in case of salaried person Or
b) 3 times of net cash accruals.(Net of tax and drawing plus depreciation) Or
c) 60% of agreement cost (If the property is less than 3 years old.). In other cases, 60% of value as per valuation report.

a,b,c Whichever is lower

Eligibility
a) Individual who are salaried employees having minimum net salary of Rs.10000/- p.m. (The income of the spouse may be added)
b) Professional, Self-Employed and others who are income tax assessee having net annual taxable income of Rs.150000/- for at least 3 years continuously.
c) Firm/Company, whose net annual taxable income is Rs.150000/- p.a. and firm/company, is in operation for last 3 years and making cash profit for last 3 years, at the above level.

Rate of Interest
The rate of interest is linked to PLR and a higher credit rating can fetch you a better rate

Repayment Period 
Term Loan - Maximum 5 years
Cash Credit - with reducing limit (in 60 monthly installment) subject to renewal every year.
 
Security
Equitable Mortgage of Residential, commercial or industrial property.

Guarantor:
Need not be obtained however in case of firms, companies, guarantee of partners, directors to be obtained.
 
Share Holding
2.5% of the loan amount, Maximum 2500 shares, Guarantors as nominal members.
 
Processing Charges
1% of loan amount
 
Documents Required
Others:
1) I.T.Returns for last three years, salary slip for last 3 months.
2) For salaried employees income proof such as Form No.16 along with salary certificate from employer
3) Original Title Deeds of the property offered for mortgage.
4) Other documents as per Vastu Siddhi Loan Scheme