Personal Loan
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
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.
Scheme For Purchas
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Business, Contract Business, Trade, Professional
LOAN AMOUNT LIMIT
Up to 5 lakh
RATE OF INTEREST
13.50%
REPAYMENT PERIOD
1 year
ELIGIBILITY
The borrower and sureties shall be natives of Eranakulam District
Must not have credit facilities with other Banks
GUARANTEE
Property security
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Demand promissory note
Security delivery letter
Agreement for bills purchased and discounted
Delivery letter for purchase of cheque
FORECLOSURE FEE
Overdraft to Emplo
TARGET GROUP
Employees of ,Schools, Hospitals, Factories,other Business Institutions etc .residing at Ernakulam district
PURPOSE
Various purpose
LOAN AMOUNT LIMIT
Up to 2 lakh
RATE OF INTEREST
Up to 1 lakh @ 11
1 lakh to 2 lakh @ 12
REPAYMENT PERIOD
Up to 5 years
ELIGIBILITY
The age of the borrower should not exceed 50 years
Salary of sureties should not exceed 25 % of Total salary.
GUARANTEE
1)Up to Rs.1 Lakh :- 2 Employed sureties not belonging to the same institution .
2)Up to Rs.2 Lakh :- 3 Employed sureties not belonging to the same institution.
MARGIN
10% of the loan amount
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
1)Declaration from the Head of the Department agreeing to recover the Overdraft amount , Interest and other charges from his/her retirement benefits
FORECLOSURE FEE