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.

    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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