House Loan (Purcha
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
For purchasing house ,flat ,and property
LOAN AMOUNT LIMIT
Up to 40 lakhs 30/- LAKHS
RATE OF INTEREST
13.5% 12.5%
REPAYMENT PERIOD
180 Months
ELIGIBILITY
ufficient personal or family income.
The applicant does not have any direct or indirect liability with the Bank. (as loanee or surety)
Eligible amount is 60% of the valuation of purchase property in case of loan applications up to Rs.25 lakhs and 50% of valuation of purchase property for above Rs.25 lakhs. In case of other properties as security, eligible amount will be 70% of valuation of security property or 90% of valuation of purchase property whichever is less.
GUARANTEE
Equitable mortgage of purchasing house or land
Employee surety and surety
Property equal to loan amount
MARGIN
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Income proof
Primary deed, Prior deed and other relevant revenue records.
Purchase Agreement in original.
Newly registered document should be submitted on registration
FORECLOSURE FEE
1% of the loan amount.
Professional Educa
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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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Ordinary Loan Soci
TARGET GROUP
All Societies affiliated to our Bank.
PURPOSE
Education, Marriage, Medical Treatment, House Repair, Painting, (Purpose approved by the Byelaw of society)
LOAN AMOUNT LIMIT
Based on the IMBP & Reserve Borrowing Power of the Society
RATE OF INTEREST
12%
REPAYMENT PERIOD
60 Months / 1year to 5 yearly installments.
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
GUARANTEE
On personal & property security (According to the Byelaw 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.op Societies.
Sadhujana Punarudh
TARGET GROUP
Church, temple, Mosque, Madam, NSS SNDP,social groups
PURPOSE
For financially backward people for there livelihood
LOAN AMOUNT LIMIT
Up to 10000 rupees for each
RATE OF INTEREST
10.00%
REPAYMENT PERIOD
100 months
ELIGIBILITY
Members in the social institutions
GUARANTEE
Two personal surety from the same group
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Copy of the committee Resolution taken by the social institution for applying loan from the bank
Address and identity proof of the authorized committee members
List of the beneficiary under the scheme and identity proof and passport size photo
FORECLOSURE FEE