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  • Capital Local Area Bank Mortgage Loan Against Property

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  • Capital Local Area Bank Ltd. is the largest Local Area Bank in India. It has completed 15 years of operations on 15th January, 2015. It has been operating in Jalandhar, Kapurthala and Hoshiapur in Punjab for the initial 13 years. In January, 2013 RBI accorded the approval for expansion. Now the bank has its operations in Ludhiana and Amritsar in Punjab. The bank's main aim is to bring modern banking facilities to the rural areas at a lower cost. It aims to make the services of a bank accessible for the common man.

    Capital Local Area Bank offers safe, efficient and servicer oriented repository of savings to the local community. This helps reduce the dependency on money lender and making credit easily available. The total business has crossed Rs.2,760 crores and the bank has 42 branches. Out of the 42 branches, 20 are rural, 16 semi-urban, 4 urban and 2 metropolitan branches. 80% of the business is in rural and semi-urban areas. In a short span the bank branches have managed to become the largest branches at their respective centres.

    Loan against property enables you to avail the most of an idle asset. You can avail loan against property to meet the financial requirements of starting a business or to expand a business and to meet the domestic requirements. The main objective of this scheme is to provide credit for viable economic activities and to meet domestic needs. This product is aimed to unleash the power of your property to be able to execute your dreams.

    Purpose of Capital Local Area Bank Mortgage Loan against Property

    The purpose of mortgage loan against property offered by Capital Local Area Bank is to make the funds available to set up a new business or expansion of your existing business or for domestic needs.

    Eligibility criteria for Capital Local Area Bank Mortgage Loan against Property

    Only the following can avail the mortgage loan against property from Capital Local Area Bank:

    • Individuals
    • Firms
    • Private limited companies
    • Public limited companies

    Features and benefits of Capital Local Area Bank mortgage loan against property

    The features of mortgage loan against property are as follows:

    • There is no maximum limit to the credit requirement.
    • Rs.25 lakh is offered for general purpose.
    • Margin is set at 50% of the security.
    • The security offered must have realizable value not less than 200% of the loan amount.
    • Third party guarantee is required.
    • The interest rate offered is:


    Average rate of interest

    Minimum rate of interest

    Maximum rate of interest

    Loan against property

    13.91% per annum

    12% per annum

    16.10% per annum

    Note: The interest rates can be changed at the discretion of the bank. Please check the interest rate at the branch before applying for mortgage loan against property.

    Documents required for Capital Local Area Bank Mortgage Loan against Property

    While applying for the mortgage loan against property from Capital Local Area Bank, you will have to submit the following documents:

    • Income proof
    • Identity proof such as driving license, PAN card, Passport, Aadhaar Card
    • Residential proof Voter ID, Passport, DL, etc.

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