Toll Free
1800-425-8873 10:00AM to 6:00 PM

Secured Overdraft

Eligibility

The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility

Primary Security

The applicant should be a major, having a fixed asset in the form of a house which has a market value. The property should have been obtained by purchase/valid gift. There should be no encumbarances over the property. The title of the property should be clear and marketable as per the opinion of the Bank. The applicant should be in a position to submit other relevant documents in connection with the property, link documents, encumbarance certificate, rent receipts, etc., The surplus income of the proponent supported by documentary evidence, should be sufficient to repay the equated monthly installments. The bank should satisfy with the caliculation of surplus income and sole discretion to decide the surplus.

Amount of Loan

The limit depends on the past financial parameters of the applicants business

Margin

Finance up to a maximum of 50% of the market value of the property as estimated by the bank

Rate Of Interest

Click here

Tenure of Loan

Renewable at yearly intervals

Contribution to Share Capital

2.5% per 1 lakh and subject to a maximum of Rs.10000/-

Processing Charges

1% of the loan amount

Other Charges

Charges as applicable under stamp act and as prescribed by Government of Andhrapradesh

Required Documents

Original Title deeds, link documents for Thirty years[Earlier documents to the title deeds to establish the transfer rights],Latest Rent receipts in Original, KYC documents of Applicant along with sureties/Guarantors PAN card if available, Photographs of self and joint holders of the property, Municipal plan if any, Income tax returns for the last three years in case of an assessee, income proof [salary certificate latest]. Three years balnce sheet and profit and loss account in case of business units, project report in case of new project quotation for the machinery in case of purchase of machinery or vehicle

Copyright © 2025 The Guntur Co-Operative Urban Bank Ltd.dr

18704

Design & Developed by Colourmoon