LOANS AND ADVANCES

The Bank has carefully designed the loan schemes to meet divergent financial
needs of various segments of society and the repayment schedules are
tailored to suit their income streams. Our Personal Banking Loan Schemes viz.
SyndSaral, SyndSuvidha, SyndVahan, SyndKisan, SyndMortgage aim to fulfil
the individual financial needs like purchase of consumer durables, vehicles or
any other genuine credit requirements. The students pursuing higher education
are provided credit under our SyndVidya scheme. The agriculturists,
professionals, salaried class, executives, traders, pensioners, defence
personnel, industrialists can meet their financial needs through various credit
schemes of the Bank. SyndNivas meets the aspirations of the public to own a
house. Loan products are designed to provide credit against security/pledge
of gold ornaments, NSC, KVP, LIC Policies, GOI Bonds, shares of public listed
companies, units of UTI and against rents receivable etc. also. The temporary
financial needs of pensioners and people drawing salary through our
branches are met through SyndOverline and temporary overdrafts in SB
accounts.

The agriculturists can fulfil their investment needs through our agri-financial
schemes for crop production, land development, minor irrigation, allied
activities, plantation, hi-tech agriculture etc. The Syndicate Kisan Credit Card
(SKCC) and Syndicate Kisan Samrudhi Credit Card (SKSCC) are products for
agriculturists proposed to meet their needs for crop production, allied
activities, repairs to machinery and consumption. The schemes like
SyndLaghuUdyami, SyndVyapar, SyndSwarna, SyndPigmy, SyndRent,
SyndUdyog are devised to meet the credit needs of entrepreneurs, artisans,
traders, Professional & Self-employed, SME Sector, business units,
manufacturing units and service entities. The Bank is lending under various
schemes for upliftment of the poor and the downtrodden. The Bank is also
involved in identifying and arranging training to the unemployed youth
through banks jointly sponsored institutes like RUDSETI, SIRD etc. and
providing credit for self-employment activity/venture. The Bank has rolled out
products to meet every genuine credit requirement of individuals, institutions,
corporates etc. and put in place hassle-free procedures and provides all the
necessary information including all costs to the public/customers. In recognition
of the financial empowerment of women, the bank has launched the product
SyndMahila to extend credit facilities to women without regular income. The
product SyndPravasi is launched to grant Rupee loans to NRI Customers. The
bank has also entered into a tie-up arrangement with insurance companies to
provide insurance cover to the beneficiaries of SyndNivas (housing loan) at
prescribed premium.

The bank is also well in tune with the demands of modern banking with
specialisation in Foreign Exchange, Export Credit, Industrial Finance, Housing
Finance and Treasury Operations.
 SYNDICATE BANK
HOME LOAN PROCESS STEP BY STEP
Searching for the best home loan is as important as searching for a dream
home. You might find the best home loan lender, but the process involves
many steps. You have to be patient and careful while dealing with the
process. Though applying online has become very easy, reaching the
disbursal stage is no cake-walk. If you had chosen a nationalized bank, you
have to be even more careful in following each and every step.
Here is the step by step procedure for your SYNDICATE BANK home loan
disbursal.
1) Collecting the Property related Documents
2) Legal Opinion
3) Property Valuation
4) E-stamping
5) Submitting the Application
6) Documentation
7) Disbursement
1. Collecting the Property Related Documents: Firstly, go to the builder and
get all the property related legal documents. Get the Legal opinion and
Share of agreement and Sanctioned Site plan from the builder.
2. Legal Opinion: Go to an Advocate who is in the SYNDICATE BANK Panel
with the documents in step 1 to get it verified. For the advocate to give the
final legal opinion he needs to see the Sales Agreement & Construction
Agreement and he needs a photostat copy of it.
Normally if its a builder share following documents need to be collected from
the builder:
a. Encumbrance certificate till current date (from some 35 years advocate
may ask)
b. Tax Paid receipt till date. Lawyer might ask you for multiple documents, so
the maximum delay is expected at this step. Once this step is done, half part
is done.
3. Property Valuation: Once the Legal valuation is done, go to a property
Valuator who is in the SYNDICATE BANK Panel with the sales agreement.
He valuates the property and gives a letter.
4. E-stamping: SYNDICATE BANK mandatess the Sales agreement and
Construction agreement to be estamped/Franked. Regarding whats the value
to which e-stamp, do concern the branch staff. Normally for a ongoing
construction flat, there are 2 Agreements a)sales Agreement and b)
Construction Agreement. E-stamping and franking are actually the same, e-
stamping is the new technology where as franking is the old one where we
stamp it, Franking can be done only at register office where as e-stamping
can be done at post offices, Syndicate banks, Selected registrar offices, etc.
Note: Make sure you, your wife and builder sign on the e-stamp which you
purchase.
5. Submitting the Application: Once you get the valuator statement and
Legal opinion, go to the SYNDICATE BANK with the filled in application forms
along with the required documents for loan application. Also attach the legal
opinion and the Valuator statement.
Note: Its always good to go for a interiors loan (max up to 3 lakhs) along
with the home loan, which might save you the hidden charges when combined.
For the interiors loan you need to get a quote from an interior designer and
get it valuator sanctioned.
6. Waiting period: Now its time for the waiting period. The waiting period
may vary from person to person. Normally in the special home loan branch, it
can be as fast as 3 days. Periodically call them to ensure that the process is
going forward. Also make sure they inspect the property, because unless and
until they inspect, you can’t reach the disbursal stage.
7. Documentation: Once the loan is sanctioned, you get a call from the bank
for documentation. Carry all the original documents which you have submitted
while applying for the loan.
Loan applicant along with guarantor needs to be present at the bank for the
documentation. Builder is normally not required, if its a land lord share, then it
is a must for him too to attend.
8. Disbursement:
Once we get the Loan Sanction letter go to the builder and get the following
documents
1. NOC from the builder stating he hasn’t mortgaged this property to any
other bank
2. Tripartite agreement [This is required only if its a ongoing construction.
3. Demand Note from the builder[how much money he needs for the
particular construction stage].
Note: Please make sure whatever demand note they make is matching with
the schedule of payment.
9. If it is an under-construction property, for partial disbursements and for
further payments you can just send a mail to the manager to please disburse
the amount XXX and then ask the builder to send a boy to the SYNDICATE
BANK branch with the original demand note and they can collect the DD from
the bank directly. You need not go to bank anymore.
10. Registration: Now its time for registration and the final payment to be
made to the builder. You need a DD for Registartion Stamp duty in the name
of Sub-registrar and a DD for Mortgage Stamp duty in the name of Sub-
registrar
Conclusion: Send an SYNDICATE BANK Postal mail form after registration
saying you had submitted all the registered documents to SYNDICATE BANK.
The above process needs a lot of care and patience. More than anything, it
needs your valuable time, planning and energy.