House Loan For Soc

TARGET GROUP
Society employees residing in Ernakulam district
PURPOSE
For building house
LOAN AMOUNT LIMIT
Up to 5 lakh
RATE OF INTEREST
Up to 1 lakh @ 11%
1 lakh to 2 lakh@ 12%
2 lakh to 5 lakh@ 13%
5 lakhs to 10 lakhs @14%
REPAYMENT PERIOD
15 years
ELIGIBILITY
Residing in Ernakulam district
Applicant must have sufficient repayment capacity
Applicant or spouse should not have house in their name in Ernakulam district
Property should be  in the name of applicant and free from liabilities
Applicant should not have direct liabilities with the bank
GUARANTEE
Equitable mortgage on Property and house
UPFRONT FEE
30% of the loan amount
INTEREST REBATE
Not applicable to this loan
MORATORIUM
12 months
DOCUMENTS TO BE SUBMITTED
Plan and estimate of house
NOC certificate for construction from local bodies
Salary certificate in prescribed form
Salary recovery agreement
Possession and non attachment certificate
location sketch and land tax bill
property deed
FORECLOSURE  FEE

Download Application Form

Ordinary Loan (Mar

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Marriage of daughter, Sister in special case
LOAN AMOUNT LIMIT
Up to 2 lakh
RATE OF INTEREST
Up to 50,000 @10.00%
Up to to 50,001 to 1 lakh @ 11.00%
Above 1 lakh @ 12.00%
REPAYMENT PERIOD
100 Months
ELIGIBILITY
SALARIED PERSON: Basic pay not less than Rs. 3000/-; total deduction not exceed 50 % of    gross   salary.
FOR OTHERS: Sufficient personal or family income.
GUARANTEE
If applicant is an Employee:
1) Upto Rs.50, 000/-:- Employment Certificate of applicant.
2) Rs.50, 001 to Rs.1, 00,000/-: 1 Employed surety.
If Applicant is not an Employee :-
1)Upto Rs.50000/-:- 1Employed surety & LTR of applicant
2) Rs.50,001 to Rs.1,00,000/-: 2 Employed surety & LTR of applicant
In case of collateral security
Security property with a valuation of 170% of applied amount.
A surety with Land Tax Receipt shall be given for the loan applications up to Rs.5  lakhs
 MARGIN
Rs.500/-
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Income proof
Salary Certificate of the Applicant & Guarantors in the prescribed form.
The marriage agreement from community and between the families
Primary deed, Prior deed and other relevant revenue records in the case of property security.
Photocopy of Ration card of applicant & Identity card of Guarantors.

Download Application Form

EDCB OKAY LOAN

TARGET GROUP
Employees of reputed Hospital/Private Institution, Private Schools /Self Financing College with permanent affiliation  
PURPOSE
maintenance of house, marriage, painting ,   purchase consumer articles etc
LOAN AMOUNT LIMIT
Maximum Rs 2  Lakh
RATE OF INTEREST
12%
Loan  PERIOD
36 Months to 60 Months – Non EMI (loan period to be fixed before 6 months of retirement from service)
ELIGIBILITY
Applicant and Sureties must be the Residents of Ernakulam District.  
On the security of Under taking of the employer and salary certificate
Total deduction from salry not exceed 50 % of    gross   salary.
 Applicant and sureties must not have direct liabilities with the bank
Surety conditions –
a.Own salary certificate ,Upto  20 times of the monthly net salary.
b.Surety of one salaried person of same institution having 20 times of   net   salary or One Govt. Employee 
c. One LTR Surety
d. One Surety from Family
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
Under taking of the employer , Declaration

Download Application Form

EDCB Express Loan

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

Download Application Form

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