SMSO Mortgage Loan

SMSO is with you as a LIFE LONG PARTNER in your every need…

Are you looking to

  • Expand your business?
  • Get your beloved child married?
  • Give better higher education to your children?
  • Renovate your dream home?

Listen to the Colour of your dreams with SMSO Registered Mortgage Loan (RML).

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Registered SMSO Mortgage Loan Features at a Glance :
  • Higher loan amount upto a maximum of Rs.15 Lacs
  • Benefits of lower EMI
  • Payment at any of our branches
  • Hassle-free documentation procedures
  • Transparency
  • Approval within days
  • Flexible re-payment
  • Multipurpose loan
  • Loan for Businessmen, Professionals, Employed persons and Individuals for the marriage of children, higher studies of child, Medical treatment etc. who is having sufficient income to service the loan.
  • Loan decided/granted on re-payment capacity and market value of the property.
  • Attractive interest rate
  • Simple and very speedy processing
  • Repayment tenure up to 60 months and 84 months
  • No foreclosure charge
  • No Lock-in period of foreclosure
  • Part payment allowed.
  • Age of the building no bar
Rate of Interest
  • Interest rate @ 14.5% per annum
  • Repayment of instalments through any of our branches
  • Property situate in Corporation or CMDA / Municipality limits
  • No Penalty for pre-closure
  • Equated Monthly Instalments (E.M.I.) for Rs. 1,00,000 /- for:-
    • 5 year tenure :  Rs. 2,350 /-
    • 7 year tenure :  Rs. 1,900 /-
  • Service charge @ 1% on the loan amount
  • GST @ 18% on the service charge
Property Documents required for registered SMSO Mortgage Loan
  • Parent document of the property.
  • Sale deed of the property.
  • Encumbrance certificate for a period of 33 years.
  • Upto-date Property Tax Receipt.
  • Upto-date Electricity Bill & E.B. Card.
  • Income proof of all working individuals in the family
  • Photo of the Property in an elevated Front view and a Photo covering the inner view.
  • Any other document that may be considered necessary after scrutiny.
Property Documents required for registered SMSO Mortgage Loan
  • Parent document of the property.
  • Sale deed of the property.
  • Encumbrance certificate for a period of 33 years.
  • Upto-date Property Tax Receipt.
  • Upto-date Electricity Bill & E.B. Card.
  • Income proof of all working individuals in the family
  • Photo of the Property in an elevated Front view and a Photo covering the inner view.
  • Any other document that may be considered necessary after scrutiny.
KYC Documents required for Registered Mortgage Loan
  • Proof of Identity – Voter ID, Aadhar Card, PAN Card (Any one).
  • Proof of Address – Voter ID, Aadhar Card, Ration Card, Telephone bill, property tax bill, lease deed (Any one).
  • Two Passport size photographs.
  • Rupees One hundred for Membership Enrolment.
  • Rupees One hundred for opening Savings Deposit Account.
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