TARGET GROUP
Employees of
Govt/quasi Govt., Aided School Employees/Teachers etc
PURPOSE
Maintenance of house, marriage, painting , purchase consumer articles
etc
LOAN AMOUNT LIMIT
Maximum Rs 10 Lakh
RATE
OF INTEREST
Upto Rs. 5,00,000/- - 12%
Above Rs. 5,00,000/- - 12.5%
Loan PERIOD
12 Months to 100 Months – EMI (loan period to be fixed before 6 months of
retirement from service)
ELIGIBILITY
Applicant and Sureties must be the Residents of Ernakulam
District.
Applicant
and sureties must not have direct liabilities with the bank
Surety conditions –
|
|
|
|
Upto 3,00,000
|
1.Upto 20 times of the monthly net salary.(Own salary certificate)
2. Total
deduction from salary not exceed 60 % of gross
salary.
3. One Surety
from Family
|
|
3 lakh to 5 lakh
|
1.Upto 20 times of the monthly net salary.(Own salary certificate)
2. Total
deduction from salary not exceed 60 % of gross
salary.
3. One Surety
from Family
4Surety of one Govt. Employee having gross salary Rs.
25000/- or surety of two Govt.employee having aggregate gross salary of Rs. 25000/-.
|
|
5 lakh to 10
lakh
|
1.Upto 20 times of the monthly net salary.(Own salary certificate)
2. Total
deduction from salary not exceed 60 % of gross
salary.
3. One Surety
from Family
4.Surety of two
Govt. Employee having gross salary
Rs. 40000/- each
|
Repayment Process
Through operative account
Margin
Not applicable to this loan
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Introducer's statement
Election I D card or ration card for address proof
Salary certificate of the
Employee and Sureties in the prescribed format
PEN Number, SPARK Authorisation
Declaration of Applicant/ Surety and recovery agreement in prescribed format