Banaskantha Bank

Loan

A.No. detail Rate of interest
(from 30/11/2024)
1 Interest rate in scooter/motor/rickshaw financing 14.00%
2 Interest rate on loan against gold and silver jewellery 12.00%
3 In Govemment Guarantees like NSC/Kishan Vikaspat Finance (75% of the principal amount will be loaned.). 12.00%
4 Hypothecation/machinery loan 11.35% to 13.25%
5 Pledge (goods possession mortgage) subject to applicable conditions 11.00% το 11.50%
6 Housing loan Starting from 9.50%
7 Four Wheeler: Loan up to 90% of Quotation for Car, Jeep, etc. Loan Commercial Loan: Truck, J.C.B. Loans up to 85% of quotation for loans etc Starting from 9.10% 12.00%
8 Homeowners Loan (in the form of overdraft or deduction loan) 10.50% to 12.00%
9 Loan interest on loan for educational purpose (Education Loan) (In which sufficient property has to be mortgaged) 10.00%
10 Cash Credit, Land Loan (up to Rs.5 lakh subject to conditions) 13 το 15.50%
The interest rate will be as follows for the holder who does not fall in the above sequence number: 1 to 10. (hypothecation, pledge, cash credit, land etc.) -
Up to Rs.10 lakh Above Rs. 10 lakh 15.50% 16.00%

Hypothecation Loan: For Rickshaw, Scooter

Required Documents:
  • The loan application form must be fully completed.
  • A passport-sized photo, and photocopies of ration card, voter ID card, and PAN card.
  • A photocopy of the driving license.
  • Details of the rickshaw permit.
  • Quotation from an authorized dealer.
  • Two guarantors who are members of the bank, along with photocopies of their membership cards.
  • Proof of income.
When signing as a guarantor at the bank, the guarantor must bring an identification card.

Documents to be Submitted for Mortgage Loan / Hire Purchase Loan

For the Applicant:
A. For Salaried Individuals:
  • Proof of Identity: Institution-issued ID card, PAN card, Passport, Driving License, Voter ID, etc.
  • Proof of Address: Electricity bill, Telephone bill, Passport, Employer's certificate (recent date) (any one).
  • Last 3 months' salary slips.
  • Form 16 (last 2 years).
  • Income Tax Return (ITR) for the last two years.
  • Bank statements for the last 6 months (of the account where salary is credited).
  • Proof of permanent employment (with date of appointment).
  • Latest Property tax receipt, property ownership records, or certificate.
  • Two passport-size photos.
  • Details of investments.
B. For Business Individuals:
  • Proof of Identity: PAN card, Passport, Driving License, Voter ID, etc.
  • Proof of Address: Electricity bill, Telephone bill, Passport, Corporation tax receipt, (any one).
  • Business location proof for business individuals.
  • Income Tax Returns for the last two years.
  • Assessment orders for the last two years.
  • Certified copy of financial reports for the last two years (Profit and Loss statement and balance sheet).
  • Partnership deed/firm registration certificate (for partnership firms).
  • Bank statements for the last six months (personal and business accounts).
  • Latest property tax receipt, property ownership records, or certificate.
  • Two passport-size photos.
  • Details of investments.

For the Guarantor (Surety):

  • A. Proof of Identity: PAN card, Passport, Driving License, Voter ID, etc. (any one).
  • B. Proof of Address: Electricity bill, Telephone bill, Passport, Corporation tax receipt, etc. (any one).

Additional Documents for Car Loan / Two-Wheeler Loan:

  • New Vehicle: Quotation from the dealer.
  • Used Vehicle: Offer letter from the seller, valuation report from a government-approved valuer.

Cash Credit / Hypothecation / Pledge / OD Against Property

  • Photographs: 3 passport-sized photos of the proprietor/partners.
  • Proof of Identity: card, Passport, Voter ID, Driving License, etc.
  • Financial Statements: Three years’ balance sheets for new credit, including trade account, bank account, and moodi (stock) account; for each renewal loan, the last year's and application date's moodi account.
  • Partnership Documents: Copy of the partnership deed/registration certificate of the firm.
  • Business Location Proof: Proof of business address, Gumasta license, or Panchayat certificate for rural areas.
  • Tax Documents: Copy of Sales Tax/TIN number, Business tax, or last paid VAT challan.
  • Income Tax Returns: Copy of last year's ITR or two years for new credit.
  • Property Documents of Applicant: Property card, ownership certificate, tax receipt, or latest property records.
  • Guarantor’s Property Documents: Property card, ownership certificate, tax receipt, or latest property records.
  • Stock Statement: Letter showing stock details as of the application date.
  • Partner/Guarantor Identification: Xerox copies of identification cards for partners and guarantors (Election Card/PAN Card – any one).
  • Machinery Loan: Quotation list for machinery.
  • Industrial Unit Registration Certificate: Required for industrial loans.
  • Bank Statement: If the applicant holds an account with another bank for new credit, provide the last 6 months’ statement from that bank.
Documents Related to Property / Mortgage Loan:
  • Sale Documents: Original sale document and two photocopies (with copies of the title deed).
  • Land Records: Copy of village record No. 6 (ownership document), 7/12 extract, 8A extract, property card (for rural areas); 13 years’ record.
  • Property Tax Receipt: Last property tax receipt.
  • No Encumbrance Certificate: Proof that there are no encumbrances or loans on the property.
  • Construction Approval: Approved plan, estimate, NA (Non-Agricultural) permission letter, layout plan, or construction approval.
  • Valuation Report: clearance certificate from the bank’s approved engineer or lawyer.

Documents Required for Housing Loan Submission in Bank:

A. For Salaried Individuals:
  • Last 3 months' salary slips.
  • Form-16 for the last two years. If not available, an employer certificate.
  • Income Tax Return (ITR) for the last 3 years (if applicable).
  • Last Provident Fund (PF) statement and employer-provided employment certificate.
  • Proof of Identity: PAN card, Driving License, Passport, Voter ID, or Institution-issued ID card.
  • Proof of Address: Electricity bill, Telephone bill, Employer certificate, or Passport (any one).
  • Bank statement for the last 6 months (of the account where salary is credited).
  • Two passport-size photos.
  • Investment details.
B. For Business Individuals:
  • Certified copy of Income Tax Returns (ITR) for the last 3 years.
  • Certified copy of the last 3 years' Assessment Orders or financial results (balance sheets).
  • Partnership deed or firm registration certificate (if applicable).
  • Proof of Identity: PAN card, Driving License, Passport, Voter ID.
  • Proof of Address: Electricity bill, Telephone bill, Corporation tax receipt, or Passport (any one).
  • Proof of business location address.
  • Bank statements for the last 6 months (personal and business accounts).
  • Two passport-size photos.
  • Latest property tax receipt.
  • Investment details.
C. For Guarantor (Surety):
  • Proof of Address: Electricity bill, Telephone bill, Employer certificate, or Passport (any one).
  • Proof of Identity: PAN card, Driving License, Passport, Voter ID, or Member ID card (any one).
  • Latest property tax receipt.
D. Title Clearance Certificate from Bank's Authorized Advocate (Documents Required):
  • Original Sale Document.
  • Land record extracts: 6-Hakkapatra, 7/12, and 8-A, or the latest property card.
  • Latest property tax receipt (current financial year).
  • No Dues Certificate from the Revenue Department (proof that no government dues are pending on the plot).
  • No Objection Letter (for construction permission).
  • Approved building plan.
  • Estimate of construction cost.
  • NA (Non-Agricultural) Permission Letter.
  • Layout plan.
  • Construction contract (on Rs. 100 stamp paper).
  • Property Card.
Skip to content