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Additional House L

TARGET GROUP
Residents of Ernakulam District. BENEFICIARY OF HOUSE LOAN
PURPOSE
Repair or extension of existing house building
LOAN AMOUNT LIMIT
40 lakh including existing loan limit
RATE OF INTEREST
Up to 1 lakh @ 12%
1 lakh to 2 lakh @12%
2 lakh to 5 lakh @12.5%
5 lakh to 10 lakh @ 12.5%
Above 10 lakh @ 12.5%
REPAYMENT PERIOD
15 YEARS
ELIGIBILITY
Residing in Ernakulam district
3 years must be completed after receiving the last installment of the first loan
Remittance of the first loan installments shall be prompt
GUARANTEE
Equitable mortgage for land and house registered to the bank
Employee surety
If employee, the repayment shall be made before retirement ,should submit salary recovery statement in the prescribed form ,recovery should not go beyond 50% of the total salary If not employee the repayment should be made before attaining 60 years
UPFRONT FEE
10% of the loan amount
INTEREST REBATE
Not 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
Equitable mortgage certificate for land and house registered to the bank

Download Application Form

EDCB E-SCHOOL LOAN

TARGET GROUP

parents of the School students in the range from 8^th standard to 12^th standard
PURPOSE
Purchase of Tablet and Cycles

LOAN AMOUNT LIMIT

Rs 3000 to 10000/-

RATE OF INTEREST
10.5% p.a + 3 % penal

Loan PERIOD
12 Months to 36 Months – EMI

ELIGIBILITY

Surety- Parent LTR Receipt should be produced

Repayment Process

Through operative account in the name of Student & Parent

MARGIN

Not applicable to this loan
INTEREST REBATE
Applicable to this loan on maturity. No rebate on pre-closure loan

MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Introducer's statement
Election I D card or ration card for address proof

Land Tax receipt of Parent

Download Application Form

Ordinary Loan( Hom

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of home appliance including computer and lap top
LOAN AMOUNT LIMIT
Upto 1 Lakh
RATE OF INTEREST
13.00%
REPAYMENT PERIOD
60 Months for home appliances and 36 months for computer and laptop
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.50000/-:- 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.50,000/-:- 1 Employed surety & LTR of applicant
2)Rs.50,001 to Rs.1,00,000/-: 2 Employed surety & LTR of applicant
Consumer articles shall be hypothecated to Bank
Margin
20% of the applied amount.
INTEREST REBATE
Applicable to this loan (Subject to condition)
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Income proof
Salary Certificate of the Applicant & Guarantors in the prescribed form.
Photocopy of Ration card of applicant & Identity card of Guarantors

Download Application Form

Consumer Loan Soci

TARGET GROUP
All Societies affiliated to our Bank
PURPOSE
Purchase of consumer articles
LOAN AMOUNT LIMIT
Based on the IMBP & Reserve Borrowing Power of the Society
RATE OF INTEREST
12.5%
REPAYMENT PERIOD
58 months (according to the provision in the byelaw)
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
90 % of Estimate
GUARANTEE
According .to Byelaw of the society
UPFRONT FEE
10 % of Invoice.
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
1.Prescribed Application Form (Same forms are used for OL,OLM,OLE & HL)
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.
8. Enclosure Cons/ Socs- I Statement.