Nagarik Sahakari Bank Ltd., Bhiwandi extends *Staff Housing Loan* facilities to its employees to support their aspiration of owning a home. This loan scheme is specially designed to offer financial assistance on concessional terms for purchase or construction of residential property.
Purpose of Loan:
► Purchase of ready-built house/flat
► Construction of a residential house
► Purchase of plot and construction thereon
► Repairs, renovation, or extension of existing residential house (as per Bank norms)
Key Features:
► Concessional interest rates* for Bank staff
► Higher eligibility based on *salary and service tenure*
► Flexible and longer *repayment period*
► Easy monthly instalments through salary deduction
► Simple documentation and faster processing
Eligibility:
► Permanent employees of Nagarik Sahakari Bank Ltd., Bhiwandi
► Minimum service period as prescribed by the Bank
► Satisfactory service record and repayment capacity
Loan Amount & Margin:
► Loan amount linked to salary, length of service, and repayment ability
► Margin as per Staff Loan Policy of the Bank
Repayment:
► Repayment through monthly EMIs, generally by salary deduction
► Repayment tenure as per Bank’s staff housing loan rules
Security:
► Equitable mortgage of the house/flat constructed or purchased
► Assignment of insurance policy, if applicable
► Any additional security as required by the Bank
