Ordinary Loan ( Lo

TARGET GROUP
Residents of Ernakulam District. Owing  commercial building rentered to government , corporate  ,co operative institution
PURPOSE
For repairing or further construction
LOAN AMOUNT LIMIT
Up to 10 lakh
RATE OF INTEREST
Up to 1 lakh @ 12.00%
1,00,000 to 2 lakh @12.00%
2,00,001 to 5 lakh @ 12.00 %
Above Rs.5 lakhs @ 13.50%
REPAYMENT PERIOD
60 months Before the ending period of lease agreement
GUARANTEE
Property for 150% of the loan amount
Irrevocable power of attorney from the leaser  to the bank
MARGIN
500/-
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Irrevocable power of attorney,
Primary deed and prior deed.
FORECLOSURE  FEE
Nil

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OL Education Socie

TARGET GROUP
All PACS and Employees Societies affiliated to our Bank.
PURPOSE
Education for children upto U.P,H.S,College / HSC division
LOAN AMOUNT LIMIT
Rs.35000/- for a family
U.P.School        – Rs.6000/-
High School      – Rs.12,000/-
College / HSC   – Rs.15000/-
RATE OF INTEREST
10 %
REPAYMENT PERIOD
10 Months.
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
GUARANTEE
On personal & property security (According to Bye-law of the society)
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
1.Prescribed Application Form
2. Committee Resolution
3.”B Statement” regarding the details of Security offered / Personal Sureties.
4. Copy of Audited Balance Sheet & Latest B/ S,Trading A/C, P & L a/c etc.
5. Copy of Bye Law,Copy of defects pointed out in the Audit Report and measures taken for rectification.
6. Certificates regarding the negative Lien on their fixed Assets.
7. Certificate regarding the Non-Membership in other Credit Co.opve Societies.
8. Students Standard Wise details of B statement  (Upto U.P,H.s,college)

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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

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Professional Educa

TARGET GROUP
Residents of Ernakulam District.  Students residing at Ernakulam district doing professional courses from the recognized universities of India / abroad
PURPOSE
For studying Engineering, Medical courses, (M.B.B.S.,B.D.S.,B.A.M.S.,B.H.M.S.,B.SC Nursing) ,M B A ,M C A , M S , M D , M D S , M S W ,.
LOAN AMOUNT LIMIT
Up to 25lakh
RATE OF INTEREST
Up to 25 lakh @ 12%
REPAYMENT PERIOD
Only interest up to the completion of studies. For a period of 100 months or  Course period whichever is less, monthly interest shall be paid.  After that period principal shall be repaid in 100 equal Monthly installments along with interest.
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
Upto Rs.2 lakh:-
1 Employed surety having monthly salary not below Rs.5000/- & surety ship of parents               
                                                      or
If Father / mother is an employee, outside employed surety is not necessary.
                                                      or
1 employed surety if only Father / Mother is an employee.
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
Salary Certificate of the Applicant & Guarantors in the prescribed form
Admission certificate from the educational institution.
20 cheque leaves of commercial bank
For studying aboard the passport, air ticket, visa .should be submitted.
In case of collateral security
Primary deed, Prior deed and other relevant revenue records in the case of property security.

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