Ordinary Loan (med

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
For further treatment referred by the doctors
LOAN AMOUNT LIMIT
Up to 1lakh
RATE OF INTEREST
Not applicable for this loan.
Defaulters will be charged interest at the rate of 6 % p.a on balance outstanding.
Addl .Interest rate of 3 % p.a is charged on overdue installments.
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.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.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
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Salary Certificate of the Applicant & Guarantors in the prescribed form
Certificate from the doctor about the disease
Ration card of the patient.
Original Medical Bills should be submitted
( Loan should be applied within 3 months from hospitalization )

Download Application Form

OL Marriage Societ

TARGET GROUP
All Societies affiliated to our Bank.
PURPOSE
Marriage
LOAN AMOUNT LIMIT
Sanctioned according to the IMBP & Reserve Borrowing Power of the Society
RATE OF INTEREST
12.5 %
REPAYMENT PERIOD
60 Months.
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
GUARANTEE
On personal & property security (According to the 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. Marriage Certificate from the concerned Samudayam or Secretary
of the Society.
For Reimbursement- Disbursement Statement shall be obtained.

Download Application Form

Medical Practition

TARGET GROUP

Qualified medical practitioners age between 25 to 65yrs

PURPOSE
providing finance to Medical practitioners for setting up of clinic, expansion/Modernization/renovation of existing clinic, X-ray lab, pathological lab , purchasing medical equipments ,computers etc.

 LOAN AMOUNT LIMIT

Rs.40,00,000/-

TYPE OF LOAN

Composite Type ( Term loan +Working Capital OD @ 10 % of the total loan amount )

 RATE OF INTEREST

 12% P.a + 3 % penal

Loan  PERIOD
100 Months – EMI

ELIGIBILITY

Individuals or partnership firms are eligible.

Promoters should be having minimum qualification MBBS, BDs,BAHMS,BPT or  equivalent qualification. Borrower should be registered with respective council.

Upto 70% of the Project Repot

Repayment Process

Through operative account

GUARANTEE

Property for 200% of the loan amount and Gehan should be created in the name of Bank

MARGIN

30% to be deposited for project loan

20% to be deposited for purchasing machinery and land

INTEREST REBATE
Applicable to this loan

Upto 12 months according to the project

DOCUMENTS TO BE SUBMITTED

Project report of the proposed business
Introducer's statement
Election I D card or ration card for address proof

Salary certificate of the guarantors in the prescribed form

Equitable mortgage agreement

Original deed and Prior deed

All other norms of project loan  is applicable to this loan also

Download Application Form

EDCB EASY LOAN

TARGET GROUP

Employees of the Aided School, Aided College, Cochin Shipyard, Primary

Agricultural CS, Employees CS and Ernakulam District oriented government/semi government institutions [non transferable jobs]

PURPOSE
for purchasing consumer articles

 LOAN AMOUNT LIMIT

Rs. 10000/-  to 1,00,000/-

 RATE OF INTEREST

 12% P.a + 3 % penal

Loan  PERIOD
36 Months to 96 Months – EMI

ELIGIBILITY

Up to 10 times of the monthly net salary

 

Surety –  1. Salary certificate of the Loanee

                2. Employment certificate from Employer

Repayment Process

Through operative account
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

Salary certificate of the Employee , Employment certificate from the Employer.

Download Application Form

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