- Possession of member’s flat will be given in a period of 5 to 7 years.
- It is mandatory to open an RD account in Sabhasdas Bank.
- It will be mandatory to open a savings account of the bank by paying Rs. 300, and also it will be mandatory to pay a membership fee of Rs. 110 / -.
- If the applicant cancels the loan for any reason after passing the loan, the installment loan processing fee paid to the bank will not be refunded under any circumstances.
- Loan processing fee 3% of the house price. Have to fill in the form. The loan processing fee will be unaffordable.
- It will be mandatory to pay the loan processing fee to the bank through cash or DD.
- If the loan installments are overdue, the loan will be canceled. The flat will not be given to the applicant under any circumstances, and the installments paid will not be refunded to the applicant under any circumstances.
- If the loan installments are exhausted, the possession of the flat will remain with the bank. The bank will reserve the right to recover the loan given by the bank to the members by auctioning the flat.
- It is necessary to pay Rs. 11000 / – for the membership fee of the member Bhimsena party.
- Once the membership is approved, the lifetime member fee of the society is Rs. 11000 / -. The current member fee will not be refunded under any circumstances.
- 11) The loan will be disbursed through the same bank / institution to which the institution is affiliated.
- 12) Terms and conditions if you want a bank / credit union loan related to the institution.
- 13) Savings account cannot be opened in bank and monthly installments cannot be paid without donation.
- 14) It will be mandatory to pay the installments within 1st to 10th of every month within the period given by the institution / bank.
- 15) In case of non-payment of the relevant amount out of the institution / bank installment to the applicant, it will be mandatory to pay interest / penalty interest as per rules.
- 16) The amount donated to the organization will be accepted as donation. This amount will not be deducted from the house price. In any case, the donation will be non-refundable.
- 17) After making a donation to the organization, the interest will be subsidized from the bank / institution through which the loan will be approved.
- 18) No interest will be charged on the loan after approval. The loan will be given at 0% interest rate.
- 19) The same bank / financial aid organization to which the organization is affiliated. The loan will be processed through a bank / institution.
- 20) If monthly installment is paid, a penalty of 10% of the monthly installment amount will be levied.
- 21) Penalty will be levied at the rate of 120% per annum for each month for which the installments are not paid.
- 22) Registration Charges 2%, Stamp Duty 6%, Development Charges, Maintenance Charges, Service Tax 4%, BAT 1%.
- 23) If for some reason the carpet area increases, the member will be obliged to pay the amount of the increased carpet area.
- 24) If the carpet area is reduced, the price of the carpet area will be reduced from the house price.
- 25) As soon as you become a member, you should immediately complete the documents and pass the loan case as soon as possible.
- 26) Rules and conditions will be binding on all members.
- 27) The organization reserves the right to change the terms and conditions.
Documents required for loan processing:
- A) Proof of Residence: Light Bill, Ration Card, Aadhar Card, Passport, Driving License, Voting Identity Card
- B) Photo ID Proof: PAN Card, Aadhar Card, Passport, Driving License, Voting Identity Card
- C) 2 photos
Terms and conditions apply.
