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THE RAJAJINAGAR CO-OPERATIVE BANK LIMITED
BANGALORE
Email       :  contact@rcbl.co,                   rcbank.ltd@gmail.com
Call on us :   080-23151204
Fax          :   080-23152073
IFSC CODE : HDFC0CRCBLB

Secured Loan


For the purpose of industry, Profession, Business term loan shall be granted for purchase of new equipment upto 75% of its value to a maximum of 50 lakhs with collateral security for aggregate loan above Rs.1.00 lakh. The loan shall be repayable within 120 EMI.


Purchase of House/Takeover of Housing Loan/Plant and Machinery Loans



Eligibility

Member/Associate Member of the Bank
For takeover of housing loan a/c. should be standard asset

Area of Operation

Bangalore Urban and Bangalore Rural District and Bidadi Hobli (whether to specify area which will be covered - MAP)

Number of sureties required

Spouse of the applicant and the co-obligation/surety of one or more members of the family may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family members to arrive at repaying capacity. Co-obligant/surety’s should be member/ associate member. Otherwise they can become nominal member by payment of nominal membership fee of Rs.100/-.

The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties).

Documents required: As applicable to security offered

  1. Parent deed/vender’s title deed.
  2. Sale deed.
  3. Possession certificate.
  4. Khatha certificate.
  5. Khatha extract.
  6. Tax paid receipt-up-to date.
  7. Encumbrance- 15-30 years till date.
  8. Plan sanction by BBMP/BDA.
  9. Layout plan approved from BDA and other competent authority
  10. NOC from Society (if it is allotted through Housing society).
  11. Betterment charges paid receipt.
  12. DC conversion order in case of converted land.
  13. RTC extract.
  14. Mutation record.
  15. Genological tree.
  16. Pahani
  17. Self affidavit (Self acquired/ancestral) as per Bank format.
  18. Any other document as required by Legal Scrutiny Report.
  19. Loan pass sheets (in case of takeover loan)

Maximum limit

Rs.1 Crore

Margin

Not less than 25% of value as assessed by the Bank’s valuer

EMI

Monthly reducing on balance converted to EMI

Maximum Repayment Period

240 Months including moratorium period.

Moratorium period

Maximum of 6 months

Income Proof

Latest Salary Slip and Form – 16 issued by employer
if assessee - IT returns, balance sheet, P & L A/c and computation of income (loans above 10 lakhs applicant should compulsory produce IT returns)
Rental agreement (income proof).
The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity.
Any other income proof acceptable to the Bank.

Mortgage type

The mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar.

Release of loan

Disbursement of loan shall be made directly to the Vendor.
Disbursement of loan shall be made directly to the Bank/ Financial Institutions (in case Takeover)

Interest rate

Purpose

Rate of Int.

Business Loan

12.00 %

Other Purpose

12.50 %

 

The Rate of Interest will be charged at monthly intervals. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors.

Charges

 

  1. Processing charges  upto 1 lakh Rs. 550/- above 1 lakh upto3 lakh Rs. 720/- above 3 lakh upto 5 lakhs Rs. 1105/- , Above 5lakh upto-10 lakhs   2210/- , Above 10 lakh upto 15 lakh 0.2% on loan amount plus and 2.36%ST

    Above 15 lakhs 0.3% on sanction amount plus 14% ST

  2. In case of registered mortgage stamp duty of 0.10 % of the loan amount sanctioned + reg fee. Of 0.10% of the loan amount sanctioned.

Share link:

Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan.

Insurance

mortgaged property will be insured against fire and other risks and the premium amount will be debited to the borrowers loan account Such fire policy shall be with Bank clause and renewed every year.


House Construction (individuals)


Eligibility

Member/Associate Member of the Bank

Area of Operation

Bangalore Urban and Bangalore Rural District and Bidadi Hobli (whether to specify area which will be covered - MAP)

Number of sureties required

Spouse of the applicant and the co-obligation/surety of one or more members of the family may be accepted if advised by legal adviser for legal compliance and/or to reckon the income of the family members to arrive at repaying capacity. Co-obligant/ surety’s should be member/ associate member. Otherwise they can become nominal member by payment of nominal membership fee of Rs.100/-.

The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties).

Documents required: As applicable to security offered

  1. Parent deed/vender’s title deed.
  2. Sale deed.
  3. Possession certificate.
  4. Khatha certificate.
  5. Khatha extract.
  6. Tax paid receipt-up-to date.
  7. Encumbrance- 15-30 years till date.
  8. Plan sanction by BBMP/BDA.
  9. Layout plan approved from BDA and other competent authority
  10. NOC from Society (if it is allotted through Housing society).
  11. Betterment charges paid receipt.
  12. DC conversion order in case of converted land.
  13. RTC extract.
  14. Mutation record.
  15. Genological tree.
  16. Pahani
  17. Self affidavit (Self acquired/ancestral).
  18. Any other document as required by Legal Scrutiny Report.
  19. No objection letter from the property owner, if it belongs to applicant’s wife / husband / son / daughter/ father/ mother. Third Party security are not acceptable.

Maximum Limit

Rs.75.00 lakhs

Margin

Not less than 25% of value as assessed by the Bank’s valuer + Cost of Construction.

EMI

monthly reducing balance (EMI for your required of loan )

Maximum Repayment Period

240 Months including moratorium period.

Moratorium period

Moratorium Period: Maximum of 6 months

Income Proof

Latest Salary Slip and Form – 16 issued by employer
if assessee - IT returns, balance sheet, P & L A/c and computation of income. (IT returns is compulsory for loans above 10 lakhs either borrower or co obligate )
Rental agreement (income proof).
The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity.
Any other income proof acceptable to the Bank.

Mortgage type



The mortgage shall be registered in the Office of Sub Registrar having its Jurisdiction and Encumbrance certificate should be obtained incorporating the Bank charge recorded in the books of Sub Registrar.

Release of loan

Disbursement of loan shall be made in not exceeding six instalments in case of construction of house depending on the progress of construction after inspection of the construction spot (by the Branch Manager or any official authorised by the Branch Manager) by one of the officials before release of 2nd, 3rd and 4th instalment.

Documents required substantiating the purpose of loan

Sanctioned Plan by the Competent Authority, Estimate for Construction, Proof for Margin Money

Interest rate and interest application frequency

Rate of Int. 12.50 %

 

The Rate of Interest will be charged at monthly intervals. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors.

Charges

  1. Processing charges  upto 1 lakh Rs. 550/- above 1 lakh upto3 lakh Rs. 720/- above 3 lakh upto 5 lakhs Rs. 1105/- , Above 5lakh upto-10 lakhs   2210/- , Above 10 lakh upto 15 lakh 0.2% on loan amount plus and 2.36%ST ,Above 15 lakhs 0.3% on sanction amount plus 14% ST
  2. In case of equitable mortgage stamp duty of 0.10 % on the loan amount sanctioned.
  3. In case of registered mortgage stamp duty of 0.10 % of the loan amount sanctioned + registration fee. Of 0.10% of the loan amount sanctioned.

Share link

Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan.

Insurance

 mortgaged property will be insured against fire and other risks and the premium amount will be debited to the borrowers loan account Such fire policy shall be with Bank clause and renewed every year.

Release of loan

Disbursement of loan shall be made in instalments depending on the requirement of Student.


Loan On Gold Ornaments



Eligibility

Member/Associate Member of the Bank and also Nominal Members by payment of nominal membership fee of Rs.100/-.

Area of Operation

Bangalore Urban and Bangalore Rural District (whether to specify area which will be covered - MAP)

Security

Gold Ornaments

Maximum limit

Rs.5.00 lakhs (2 lakhs for nominal members )

Rate

Rs.2500/- per gram

Maximum Repayment Period

24 Months above 1 lakhs, below 1 lakh 12 months

Release of loan

The proceeds of the loan amount shall be paid to the party’s SB/CA

Interest rate and interest application frequency

11.00%. Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors.

Service Charges

0.20% upto 1 lakh, above 1 lakh 0.20%+0.10%(stamp duty)


Vehicle Loans



Eligibility

Member/Associate Member of the Bank

Area of Operation

Bangalore Urban and Bangalore Rural District and Bidadi Hobli

Number of sureties required



Co-obligant/surety’s should be member/ associate member. Otherwise they can become nominal member by payment of nominal membership fee of Rs.100/-

The Member having any liability with the Bank, should have paid the instalments / interest upto date on the date of submission of Loan application if he /she has availed any Loan from the Bank (including co-obligant/sureties).

Documents required: As applicable to security offered

  • Invoice
  • Copy of Driving Licence
  • Income Proof of both Applicant and Surity

Additional security

  • Collateral security of Site/ House Property (should have marketable title) for 4 wheeler only

Maximum limit

 90% for 2 wheeler and 75% for 4 wheeler on Invoice value

Margin

      10% of Value of the vehicle with collateral security.
25% as the case may be

Instalments

Monthly reducing balance (EMI for your required of loan refer EMI Calculator)

Maximum Repayment Period

40 months for 2 wheeler and 80 Months are 4 wheeler

Income Proof

      Latest Salary Slip and Form – 16 issued by employer
if assessee - IT returns, balance sheet, P & L A/c and computation of income.
Rental agreement (income proof).
The applicant should furnish full information about his source of income/ income generating capacity along with documentary evidence to assess his repaying capacity.
Any other income proof acceptable to the Bank.

Charge on the Vehicle

Vehicle should be hypothecated to the Bank

Mortgage type for 4 wheelers only

If a property is allotted by BDA, Corporation, Housing Board, Industrial Board, or a housing society wherein the sites are leased by the BDA and if the applicant possess all the original documents regarding title to the property, such properties can be mortgaged to the bank by way of equitable mortgage by deposit of title deeds (recorded in the books of theBank).

Release of loan

The proceeds of the loan amount shall be paid to the dealer of the vehicle from whom the borrower intends to purchase the vehicle, duly debiting the margin amount to the party’s SB/CA, getting a letter to this effect.

Interest rate and interest application frequency

      13.00%
Interest rate is subject to revision from time to time as per the directives of Reserve Bank of India or as per the decision of the Board of Directors.

Charges

In case of collateral security of immovable property,

  • Processing charges  upto 1 lakh Rs. 550/- above 1 lakh upto3 lakh Rs. 720/- above 3 lakh upto 5 lakhs Rs. 1105/-  and Above 5lakh upto-10 lakhs   2210/- 
  • The above charges are subject to change.

Share link

      Share link to borrowings at 2.50% of the Loan amount sanctioned plus share fee of Rs. 5/- per share of Rs.100/- each are payable at the time of release of Loan.

Insurance

The vehicle should be comprehensively insured with Bank clause and borrower should arrange for renewal of insurance policy every year at his cost and produce the policy within the due date. In case the borrower fails to produce the insurance policy the bank shall arrange to get the insurance coverage for the vehicle by debiting the loan account.

The borrower shall get the mortgaged property insured against fire and other risks and the premium has to be paid by the borrower. Such fire policy shall be in the name of the borrower with Bank clause and renewed every year and if the borrower fails to do so the bank is empowered to debit the members’ account and renew the insurance.