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info@shivacooperativebankltd.com
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Housing Loan

Shiva Sahakari Bank Niyamita, Davangere offers Housing Loans to assist customers in fulfilling their dream of owning a home. The loan can be availed for purchase, construction, renovation, or extension of residential houses. Flexible repayment options are available under EMI and Non-EMI methods to suit customer needs.

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Actual Interest Rate
10.00%
per annum (EMI basis)
11.00%
per annum (Non - EMI basis)
Interest Discount
  • Customers who repay their loan installments regularly and on time every month are eligible for an interest rate concession of 2% per annum.
  • Effective interest rate after discount
    EmI basis: 8.00% p.a
    Non - EMI basis: 9.00% p.a.
Penal Interest
  • In case of delayed payment, default, or irregular repayment, penal interest at 2% per annum on the actual applicable interest rate shall be charged as per bank rules.
Eligibility
  • Salaried individuals and self-employed persons
  • Resident Indian customers with satisfactory repayment capacity
Documents
  • Duly filled loan application
  • KYC documents
  • Proof of income
  • Property-related documents
Purpose And Security
Purpose
  • Purchase, construction, renovation, or extension of residential house property
Security
  • Equitable mortgage of the residential property financed by the bank