CANARA SITE -620
NF- 546 Specimen Card
NF- 964 Loan Application
NF-990 Rating Sheet for Retail Lending Scheme (cir 142/2020)
NF-981 Housing Loan agreement to Individuls
NF-370 Guarantee Agreement
NF-371 Guarantee Covering Letter
NF-461 Letter Evidencing Deposite of Title Deed
NF-462 Schedule A & B
NF-967 Certificate of compliance of term and conditions
NF-803 Letter Evidence Execution of Documents.
Cibil
Interest Variation
Sanction Memorandum (Cir 99/2015)
CERSAI Search Report
E-STAMP Rs 200/-
E-STAMP for Guarantee 200/-
Purpose :
• A Loan Scheme to individuals for purchase of Housing sites from State Development/Town
Planning Development authorities, Central and State Governments local authorities either
exclusively or in partnership with private sector entities, or from any other body constituted
by the Government for distribution of sites provided such layouts are duly approved by the
concerned statutory authority.
• Take over accounts from other banks permitted subject to fulfilment of original loan
sanctioned for above purpose.
• Housing loan can be availed whenever required for construction of house of the sites
purchased.
Eligibility:
• Customer of the Bank with satisfactory dealings. New customers properly introduced &
creditworthy.
• Age of applicant should be less than 60 years.
• NRIs also eligible.
Loan Quantum : Four years gross Annual salary/income OR 75% of the cost of the site/guideline
value (whichever is less).
Margin:(Cir142/2020) The land / plots of Government Development Authorities land such as
DDA, HUDA etc. directly from authorities or under second sale. Further the plots in the colonies
approved by Govt. Authorities along with approved maps and RERA approved projects
• 30% vacant plots by Govt Development Authorities
• 50% other Vacant Plots
Net Take Home (NTH) : 40%
Credit Information Report (CIR):(CIR 165/2020)
Upto 5 Lakhs 1CIC
Above 5 Lakhs 2 CIC
Rate Of Interest (ROI) (Cir 166/2020) :
Risk Rating CRP over RLLR
CS1 RLLR + 1.05
CS2 RLLR + 1.10
CS3 RLLR + 1.60
CS4 RLLR + 2.10
Repayment Period : 10 Years OR maximum period permitted by the allotment agency for
construction of house or upto 65 years of the borrower at the time of closure of loan whichever is
earlier.
Security : Mortgage of the residential site proposed to be purchased. Suitable Co
obligation/personal guarantee of adequate networth will be insisted.
Nature of Loan: Term Loan-Secured
Classification: Non-Priority-Secured
Documents Required :
• KYC Document of both applicant and Guarantor
• 2 passport size photographs
• Layout/site plan issued by the development authorities.
• Latest 6 months Salary Certificate/Form No.16 for salaried class and latest
• ITAO for Businessmen/professionals.
• Legal Scrutiny Report form Bank’s panel Advocate.
• Check list for Scrutiny and Approval of LSR by Branches(cir 157/2020)
• Allotment letter other any other evidencing purchase/allotment of sites issued by the
development authorities.
• An undertaking should be obtained from the borrower for construction of the house within
the stipulated time (as stipulated by the development authorities while allotting or giving
possession of sites
• Authorisation letter from the party to make the payment directly to the development
authorities.
• Authorisation letter addressed to the development authorities authorising the Bank to the
documents directly from the development authorities.
• An authorization letter from the applicant (borrower) authorizing the Bank to receive the
original documents from the registering authority.
Disbursment :
• The loan Amount is to be disbursed directly to the development authoritities.
• In case the site value is payable in stages the disbursment should also be in stages only.
After Loan Disbursment:
• collect Original Sale deed and receipt issued by the registering authority within reasonable
time.
• In case of delay in submitting the registered original sale deed beyond 6months penal
interest of 2% shall be charged on the outstanding liability till the receipt of registered
original sale deed with due intimation to the borrower.
• Registering of EMT with CERSAI and charges should be collected.
Processing Charges (cir 109/2020) : 0.5% of Loan Amount Minimum Rs. 1500/- Maximum Rs.
10000/-
Inspection Charges: (cir 109/2020)
Upto 10 Lakhs Rs 200/- Per Inspection Max Rs 600/- per Year
Above 10 Lakhs Rs 300/- per Inspection or actual expenses
incurred whichever is higher
Documentation Charges(cir 109/2020) : Rs 100/- per Lakh with Min Rs 1000/- and Max Rs
25000/-
Conversion into Housing Loan:
• The Housing loan Amount to be arrived based on cost of construction and required margin
and the the total housing loan limit should be arrived by adding the canara site loan.
• Loan outstanding and Housing loan limit arrived after sanctiion of composite Housing loan
the amount equivalant to site loan liability should be debited to the housing loan account to
close the site loan account
Cibil Charges: Rs 50/- Per Individuals.
Delegation of Power:(cir 1/2020)
Small Branch or Branch in Charge Recommonded proposals to their RO/ RAH
Medium Branch 10Lakhs
Large Branch 15 Lakhs
CM in VLB/ELB 25 Lakhs
AGM -VLB/ELB 30 Lakhs
Head of RAH/ DGM Heading Branches AGM- 35 Lakhs
RO-CAC
DGM-RO-CAC 50 Lakhs
DGM-CO-CAC/DGM-CO-CAC (Circle Head) 60 Lakhs
GM/ CGM-CO-CAC(Circle Head) 75 Lakhs
CGM/GM-HO-CAC Above 75 Lakhs
Credit Review & Reporting.
• Above 5 Lakhs loan sanctioned Should be Reviewed
• Sanctions made by in charge of Branches/ RAHs overseen by RO shall be reviewed by the
NHA(Next Higher Authority) i.e DGM / AGM /DM at RO through the Credit review &
Monitoring Sectionof RO
• Retail Lending Reporting -PSR-71
• Cut-off limit for forwarding copies of appication / credit report to RO enhanced to 5Lakhs
for all branches including VLB/ELB.
• Credit reports (NB-179) should be submitted to the reviewing authority in time and the
reviewing authority has to review the same within a time frame and their observations
conveyed to the branch for rectification/ compliance.
• Copy of Apprisal Note, Sanction Memorandum, Application Form along with relavant
documents should be submitted.
• In respect of Sanctions made by Credit Manager or Senior Manager in VLB or ELB copies
of application along with credit report and sanction memorandum shall be placed not below
the rank of CM for Review irrespective of loan amount.
• All other branches are submit to next Higher Authority at RO through the Credit review &
Monitoring Section of RO for Reviw.
Prepared By
SANTOSH(109350)
