Required Documents Bank Forms ( for Authorized Signatories and KYC ) Application Letter with Company Letter Head Board of Directors’ Meeting Resolution Certificate of Incorporation/Export-Import Registration Memorandum of Association & Article of Association/Form (E ) R.C Copy (or) Passport Copy of Authorized Persons Two Photo of Authorized Persons (Passport Size) Initial Deposit (USD/EURO/SGD – 100/-)
Required Documents Bank Forms ( for Authorized Signatories and KYC ) Application Letter with Organization Letter Head (Company Seal/ Designation Seal) Registration Letter of Concerned Ministry/ Authority BOD Lists/Memorandum of Association & Article of Association Board of Directors’ Meeting Resolution R.C Copy (or) Passport Copy of Authorized Persons Two Copies of Authorized Persons(Passport Size) Initial Deposit (USD/EURO/SGD – 100/-) Company Seal/ Designation Seal
Must provide original NRC ID Card or passport for verification
Housing Mortgage Loan
Downpayment (30% to 50%) of housing value to the Bank by opening Current Account in Bank. Service charges (1%) of housing value.
You can apply loan period up to the most (8)years or you can get under (8)years loan period if your monthly payment is suitable.
Interest is (10%) in one year on your loan anount.
Loan Principle and Interest Paying Process
According to the Loan Period ,interest and principle monthly installment (Eg., 8years(96 months)(96 times)).So,monthly payment is equal and then you pay set amount each month,you’ll have paid off both interest and principle when the end of your loan term.
Calculating interest with Amortizing Method used in international home loan.
This loan is calculate interest on your rest of principle of monthly payment.
Collecting Late Fees
You must give monthly payment at the first week of every month without absenting , if not Bank collects late fee(0.04%) in one day if over identified date.
If your payment absent (4 months) (4 times) continuously, the bank beg off your apartment.
Before paid off your loan, you must have fire insurance yearly and borrowers give premier charges.