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Andhra Pragathi Gfameerra Bank (Sponsored by Canora Bank)
HEAD O FFICE: I KADAPA REGIONAt OFFICE::ONGOLE
CREDIT AND RECOVERIES DEPARTM ENT
llL: f N o. 208/SH L/l F :4161 I 5051 / RO -CRD / 2024 Dt.11,.01.2024

lo
Ihc Branch Ma nager
Edugullapadu Branch

l)('ar Sir:
Sub: Staff Housing loan of Sri. Mangalagiri Raghavendrudu, Emp.No.4161, Asst. Manager, Working at
Edugullapadu branch - Reg.
With reference to the above, we are pleased to inform that the Competent Authority has sanctioned Staff
llousir'rg Loan (Revised) to the captioned Officer on the following terms and conditions:

1. Classification STAFF HOUSE BUILDING LOAN

.1. Name of the Staff lYember Sri. lt4. Raghavendrudu, Emp.No.4161,

Asst.Manaqer, Workinq at EDUGULLAPADU
branch.

3. Loan Amount Rs.46,00,000/-( Rupees forty six lakhs only)

4. Margin Money Rs.6,00,000/-

5. Purpose To purchase R.C.C. G+1 Residential building

and for undertaking repair works

6 lla tc of Interest 6.50o/o p.a (Funded Interest Mode)as per

Ct.No.294 I 2020 Dt.01. 12. 2020

07, RELEASE SCHEDULE

Bank Loan amount of RS.46,OO,0O0/-along with applicant margin money of RS.6OOOOO/- shall be
(:lcased as follows. The staff has already paid margin money of Rs.4,00,000 /- towards advance and
exccuted sale agreement.

&)r Purchase of R.C.C. G+ 1 Residential buildinq

l-'r Installment:-An amount of Rs.3600000 /- shall be released directly to the applicant vendor
through Demand Draft/NEFT/RTGS Proceedings on registration of R.C.C. G+1 Residential building and
Registration shall be done for full value as per the sale agreement.

For Underta kino Reoairs

2"t Installment: Rs.l0OOOOO along l- with

Margin money Rs.2OO00O/- total in
Rs.120OOOO/- shall be released directly to the staff SB/SOD account at the time of commencement of
repairs as per the estimation for repair works after Creation of Mortgage in favour of the Bank with
 prior permission from Reoional Office bv sublEltttrnq follow-up alonq with all post sanction '
paDers.

08. REPAYMENT SCHEDULE:

The total loan is repayable in 316 monthly installments with NO gestation period. Principal is to be ropa d r,r 2.il
monthly installments out of that 236 installments @ Rs.19410/ and last instaltment (i.e 237'') @) Rs. 19240/ an(l
interest accrued to the loan arranged now shall be repaid in 79 equal monthly installments after the repaym€lnt oi
principal in full. The repayment of loan shall start from One month after arranging the loan.
09.SECURITY :

Registered Equitable Modgage of R.C.C. G+1 Resldential building as mentioned below

Su rvey No: 3t7lt

Extent of 168 Sq.Yards Plot No.33 Door. No. 6-261, Asst. No.1069005550, R.C.C. G+1
Area/s BUILDING

Location SRO Jaggayyapet, within laggayyapet Limits, NTR Distflcl

Registration(Previously Krishna Dt

Bou ndaries East House of Nancharla Nagamani some extent and to some extent
road for ingress & egress

South House of Thota Nageswara Rao

c st House of Peram Yalamanchi

North Site of Katragadda Nageswara Rao

Within the above boundaries 168 Sq.yards land with R.C.C. G+1 BUILDING IN
laggayyapet Town.

lO.DOCUMENTATION:

i) Stamped loan agreement (ADN 12) duly stamped for Rs.100/-.

ii) Annexure IU & VI as per H.O CIRNo.290-2021-BC CD duly stamped on Annexure VI

11. OTHER TERMS AND CONDITIONS:

.All the declarations as per the scheme quidelines appended in "Desk Guide on Advanccs" shall br:
obtained in duplicate and one copy shall be forwarded to SRK.
. Ensure that all the staff loans availed by the Staff Member are regular, includinq Staff Ch drcr:
Education loans.

. After arranging the loan, submit the following

/ BCS
.,/ Copy of Loan Agreement
/ All declaration forms as per Cir 315/2011
 '/ Extract of equitable mortgage Register.
/ lvlortgage Annexure III & VI
"' Copy of EC after mortgage.
r' Follow up report.
r' CLRSAI Registration copy.
r' Legal Compliance & Due Diligence Certificate by Branch Head and Panel advocate(Cir. No, 290/21 )
Two photos of the bualdang under construction.
"r' 2"'r Search Report
. Follow all guidellnes of the scheme appended in Desk Guide on Advances.
. Ensure CERSAI Registration immediately after creation of charge on the property withln 30 days.
ch ll inform the Loan A cN n m n fin n
emolovee immediatelv after arranoino th loan to Personnel Department to effect
ded uc tion f rom sa larv of the emDlovee.
. Obtain DPN for loan amount of RS.46,OO,OO0/- from the applicant as stop gap
arrangements before completion of REM of property in favour of the Bank.
. I nsure registration of the property in the name of the applicant soon after release of the loan and
con.rplete mortgage process. Branch shall obtain EC soon after completion of mortgage and ensure
lhc mortgage of property in favour of bank in the EC.
. urandt shall obtain EC soon after completion of rnortgage and ensure the mortgage of property in favour of
bark ir lhe EC before releasing 2"d instalment loan amount.
. tiranch shall ensure the particulars of the property detajls got registered with CERSAI by submitting the
part culars to Regional Office immediately after mortgage.
. Branch shall appraise the borrower/s as well as guarantor/s about the repayment schedule, applicable penal
intcrest on overdue amount and other important guidelines of the scheme as stated in Head Office Ct: 258112.
. Branch shall obtain houslng loan agreement signed by the borrower/s duly affixing Rs.100/- adhesive
stamps.
. Branch shall follow guidelines given in Circular No 90-2007-BC-CD dated 17.05.2007,
the
Cir.No.4B/2021 and Cir.No.290/2021 on mortgages and obtain relevant annexure with requisite stamp
only.
. Branch shall submit the applicable extract of / true copy of
REM Deed / UREM register / RSM Deed as
the case may be, where the mortgage particulars of the loan are entered.
. Branch shall closely monitor the loan account and ensure prompt recovery as per repayment
sr hr:dulc.
. Branch shall ensure that there are no Over dues (direct / indirect liabilities) of the borrower/s / surety
/ res ln the branch, before arranging the loan.
. Branch shall ensure that there are no dues with other Banks.
. Branch shall obtaln up to date EC periodically and ensure no encumbrances on the mortgaged property.
. Prior permission shall be obtained from RO, ONGOLE for release of final installment by submitting two
photos (showing front and side view), follow-up report furnishing the details, such as date of visit,
amounts released with dates, pendinq works etc.
. Branch shall follow the guidelines regarding Stamp Duty and affix the requisite stamps as per revised
1S ACt.
. Valuation certificate / completion certiflcate shall be obtained from approved valuer of APGB, after
complction of the construction and be submitted to Regional Offlce.
. uranch shall follow Swagruha loan scheme guidelines laid in Desk guide on loan and all other related
quidc lines issued by HO / RO from time to time before arranging the loan.
.llranch shall ensure having followed all the other terms and conditions placed in Annexure.
.llranch should ensure that Error Free documentation and lYortgage before releasing the loan.
. (--ornmunicate the borrower about rcpayment schedule as per Anncxure - I and obtain Annexure - II
as per Cir. No:2612022.
. illortgage Llmit is the amount of the credit facility as per the sanction letter. (lt is not recommended
ro create mortgage for higher limits than mentioned in the sanction letter). For subsequent credit
{.rcititics, additional REIY/RSNI shall be executed as and when additional credit facilities are
sanctioned, as per HO Cir. No.290/2021.
. tr shall be ensured that the applicant/s has/have fully invested his/her/their own funds/margin
0bcfore releasing each loan installments.
. Second and subsequent installments shall be released only after conducting follow-up inspection by
the lYanager and ensuring satlsfactory utilization of installments released earlier. Prior permission
snat bc obtained from RO, ONGOLE for release of final installment by submittlng two photos
(showing front and side view) and follow-up report.
. Appropriate follow-up/utilization repoft for each installment shall be made avallable in the pafty's flle.
. House Tax receipt in respect of the house mortgaged as security shall be obtained every year and
submitted to SRK.
. E.C. shall be obtained at least once in a year after releasing the loan and it shall be ensured lhat
there are no encumbrances. The charges shall be collected from the borrower.
.The mortgaged house property shall be inspected at half yearly intervals and inspection report shall
be sent to the sanctioning authority.
. The charges Iike insurance, inspection, etc. if any, deblted to the loan a/c shall be rccovercd from thc
borrower along with immediate equated monthly installments.
. Obtain mutation certificate of the property issued by competent authority in favour of applicanls inrnrerl nir' ,
after arranginq the loan.
. Follow up reports during loan release perlod shall be regularly submitted to SRK unfailingly.
.The house constructed/purchased out ofthe Bank loan under the scheme should be insured by the
applicant with Bank interest clause for the total cost of house against fire, riot, earthquake, storm,
tempest, flood. aircraft damage and other risks. Insurance premium shall be borne by the borrower
and it is also the responsibility of the borrower to keep the insurance cover in force by renewal<
during the currency of the loan. The loan can be covered under UII home policy of UIIC. Lifc oi
borrower shall preferably be insured.
. Issue a copy of the sanction letter to the applicant as per Ho Cir Noi 77312017 Dated 27.12.2017 and
obtain his acknowledgement in acceptance of the term and conditions of the sanction.
. Obtain Legal Compllance and Due Diligence Certiflcate and 2nd search report before arranging thc
loan and submit a copy to RO, ONGOLE.
. Branch shall seed Aadhar No, Ration No, Voter ID No, PAN No and Mobile No of both borrower/s and
surety in their respective Customer ID's in CBS.
.Other terms and conditions not specifically mentioned in this sanction note but contained in ih(l
scheme should be followed.
. All the CIFs of the borrower and surety should be opened and CIF of the co borrower shouid br:
linked to the CIF of the surety.
. The validity of loan sanction letter is 30 days.

RECOMMENDATIONS: Recommended for sanction of Staff Housing Loan New oF Rs. 4600000/ a:i
per the above terms and conditions to Mangalagiri Raghavendrudu, E.No.4161, Asst.lvlanarlc,.
EDUGULLAPADU branch.

Yours faithfull

nr
SE R NIANAGER

copy to sri. Mangalagiri Raghavendrudu, E.No.4161, Asst.lvlanager, EDUGULLAPADU branch.to..

information.

Copy to the Chairman, Pcrsonncl Department, H.O., and Kadapa for information.

Copy to: the Senior Managcr. Personncl Department, RO. Ongole for information