Home Loan In Syndicate Bank | Procedure to Get Home Loan in Syndicate Bank
However, searching for a best bank in order to get the home loan is an important method. As to get the home loan we must know about the best bank providing home loan at reasonable interest rate. Moreover, if you want to get home loan from the Syndicate bank. You need to learn about the step by step procedure. Hence, you need to be careful about this while dealing through this procedure. There are few basic steps which is being followed by the each and every bank. Thus, to get the Home Loan In Syndicate Bank you need to learn about its procedure.
Home Loan In Syndicate Bank:
Collecting the Property related Documents:
The first step is that you have to go to the builder. In order to get all the property related documents. As well as get the legal opinion and share agreement and sanctioned plan with the builder.
However, if you are applying for home loan through the Syndicate bank. You need to go and ask to the advocate for suggestions. First he will verify your documents. Foe his opinion he needs to see the Sales Agreement & Construction Agreement.
After the completion of the legal valuation. Go to a property valuator who is in the Syndicate bank. He will valuates the property and provide you a letter.
Syndicate bank mandates the Sales agreement and Construction agreement to be e-stamped. E-stamping is a new technology. As before franking was performed. E-stamping can be done at post offices, Syndicate banks, Selected registrar offices, etc.
Submitting the Application:
However, after getting the valuator statement and the legal opinion. You need to go to the bank with the filled application form. As well as with the required essential documents. Also attach the legal opinion and the Valuator
Hence, now it is the tie of the waiting period. However, this mat vary from person to person. Moreover, it is called to ensure the process is going forward. As well as also be sure to inspect the property because until they inspect, you can’t reach the disbursal stage.
After the loan is sanctioned you will receive a call from the bank. Hence, you are required to carry all the essential documents along with you. Thus, carry all the original documents which you have to submit.
Once the loan is sanctioned you will get the following documents.
- NOC from the builder stating he hasn’t mortgaged this property to any other bank.
- Tripartite agreement.
- Demand Note from the builder.
Thus, now it is the time of the final payment and the registration to the builder. However, you are required a DD for registration Stamp duty in the name of Sub-registrar and a DD for Mortgage Stamp duty in the name of Sub-registrar. Moreover, the bank will mail after the registration. After you have submitted all the essential documents to the Syndicate bank.
Hence, these are the few steps you are required to go through in order to get the loan from the bank.