Property Power

KYC Documents

• Two passport size photos each of the applicant/ and the co obligant
• Identity Proof – Passport / Voters ID / Driving License/ PAN Card / Aadhaar Card
• Address Proof – Passport / Voters ID / Driving License / Aadhaar Card
• Age Proof – Passport / Birth Certificate / Driving License / SSLC or AISSE Certificate

Additional documents for Non Resident Customers

• Certified copy of Passport, Visa, Work Permit, ID card

Income Documents

Resident Salaried

• Latest Salary Certificate /  Salary Slip (3 months)
• Copies of IT returns (2 years) or Form No.16 (2 years) 
• Latest 6 month's Bank Account statement evidencing the salary credits

Resident Self Employed

• Proof of Business existence & Business Profile
• Last 12 months bank a/c statements
• IT returns for 2 years supported by Balance Sheet, P&L Account for the past two years. Where ever available, Tax paid challans may also be collected OR Last 2 years IT returns supported by Tax calculation sheet & Tax paid challans

Non Resident Salaried (either of option1 or option 2)

• Option 1
• NRE account statement with any bank for last one year
• Embassy / CRO certified Salary Certificate/ latest 3 months salary Slip OR Latest Salary Certificate / Slip (3 months) supported by 6 months Salary Crediting Statement
• Option 2
• Two years NRE a/c statement of the customer and/or resident accounts of spouse/parents (with us/ other Bank) in which remittance is made.

Non Resident Self Employed (either of option1 or option 2)

• Option 1
• Proof of Business existence & Business Profile
• Last 12 months bank a/c statements
• Balance Sheet, P&L Account for the past two years. Where ever available, Tax paid challans may also be collected
• Option 2
• Two years NRE a/c statement of the customer and/or resident accounts of spouse/parents (with us/ other Bank) in which remittance is made.

Property Documents

• Documents of title *
• EC for 13 years *
• Possession certificate
• Location sketch *
• Land tax receipt
• Building tax receipt ( if applicable )
• Approved Plan

Repayment period for Property Power is maximum 15 years. Repayment of the loan can be made using any one of the ways:

• Cheques
• Automated loan recovery
• Standing instructions at your branch
• FedNet - Internet Banking
• Automated Payment through ECS

Security

• Mortgage of immovable property
• Property in the name of close relatives also will be accepted
• For granting Property Power to PIOs, the property shall be in their own names.

Insurance

• Insurance options for Property Power Loan at attractive Premiums
• Amount for insurance can be included as a part of our loan component subject to satisfactory repayment capacity & availability of required security margin as per norms.

Interst Rates & Service Charges applicable

• Please visit the Rates & Charges page for details.

Other Conditions

• Bank reserves the right to reject any application without assigning reasons thereof

• The applicant will undertake to inform the Bank as and when there is a change in address or employment
• The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.