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)
Rural Tourism Sche
TARGET GROUP
Church, temple, Mosque, Madam, NSS SNDP, Social groups
PURPOSE
For building tourist homes restaurants, purchasing tourist boat and for home stay
LOAN AMOUNT LIMIT
Up to Rs. 25 lakh for building tourist homes restaurants, and for purchasing tourist boat up to Rs.10 lakhs
RATE OF INTEREST
Depends upon the project
REPAYMENT PERIOD
10 years for building tourist homes restaurants, and 60 months for purchasing tourist boat
ELIGIBILITY
Members in the social institutions
GUARANTEE
Property for 170% of the loan amount
Property deed of the constructing project in case of tourist homes restaurant
Hypothication of boat in case of purchasing boat
UPFRONT FEE
5% of loan amount should be deposited
INTEREST REBATE
Not applicable to this loan
MORATORIUM
6 months for building tourist homes restaurants and for purchasing tourist boat
DOCUMENTS TO BE SUBMITTED
Certificate for working of tourist homes restaurant from authorities
FORECLOSURE FEE
Swarnanidhi Loan
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of Gold
LOAN AMOUNT LIMIT
Upto 25 Lakh
RATE OF INTEREST
Up to 3 lakh @ 13%
3,00,001/- to 5 lakh @ 13.75%
Above 5 lakh @ 15%
REPAYMENT PERIOD
18 years
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.
The applicant does not have any direct or indirect liability with the Bank. (as loanee or surety)
GUARANTEE
If applicant is an Employee:
1)Upto Rs.100000/-:- 1 Employed surety.
2)Rs.1,00,001 to Rs.2,00,000/- 2 Employed sureties
3) Rs.2,00,001 to rs.3,00,000 3 Employed sureties
4) If Applicant is not an Employee :-
1) Upto Rs.100000/-:- 2 Employed surety.
2)Rs.1,00,001 to Rs.2,00,000/- 3 Employed sureties
3) Rs.2,00,001 to rs.3,00,000 4 Employed sureties
Above 3 lakh , property for 170% of the loan amount
UPFRONT FEE
10% to be deposited
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.
In case of collateral security
Primary deed, Prior deed and other relevant revenue records
FORECLOSURE FEE
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.