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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

STHREE SAKTHI LOAN

TARGET GROUP

Educated women, SHG/JLG of women etc
PURPOSE
To start catering Unit , Bakery Unit, Poultry farm, Artificial Jewellery Making, Beauty parlour etc

LOAN AMOUNT LIMIT

Rs. 10,00,000/-

RATE OF INTEREST
12.00% p.a + 3 % penal

Loan PERIOD
120 Months– EMI

ELIGIBILITY

A group of Educated unemployed women ( Minimum 3 Nos max10 Nos)

Upto 70 % of the Project report

Repayment Process

Through operative account

GUARANTEE

Property for 200% of the loan amount

All the members of the group should be stood as sureties

Margin

30% to be deposited for project loan

20% to be deposited for purchasing machinery and land
INTEREST REBATE
Applicable to this loan

MORATORIUM
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

Self Employment Lo

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of Self Employment Equipments & Working capital.
LOAN AMOUNT LIMIT
Up to 25 lakh
RATE OF INTEREST
12.00%
REPAYMENT PERIOD
100 Months
ELIGIBILITY
Sufficient personal or family income.
GUARANTE
Upto Rs.2 lakh –
1)4 Employed sureties having monthly salary of not below Rs.4000/- or 3 Employed sureties having monthly salary of not below Rs.5000/-
2)Hypothecation of Goods.
3)Above 2 lakh :- Property 150% to the loan amount
MARGIN
10 % of the Invoice amount should be remitted
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Project report
Salary Certificate of the Guarantors in the prescribed form
Primary deed, Prior deed and other relevant revenue records.
FORECLOSURE FEE

Download Application Form

House Loan

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
For construction of house building and repairs, extension, painting for existing building, construction of compound wall etc.
LOAN AMOUNT LIMIT
Rs.40 Lakhs - For new houses RS.30/- LAKHS FOR NEW HOUSES
Rs.10 lakhs - For Repairing, extension etc.HOUSE MAINTANANCE RS.1/- LAKH
RATE OF INTEREST
Up to 1 lakh @ 11.00%
1,00,001/- to 2 lakh @11.00%
2,00,001/- to 3 lakh @11.00%
3,00,001/- to 5 lakh @12.50%
5,00,001/- to 10 lakh @ 12.50%
Above 10 lakh @ 12.50%
REPAYMENT PERIOD
15 years
ELIGIBILITY
Property must be in applicants name and the residence shall be at Ernakulam district
Sufficient income to repay the loan amount
The applicant should not have any direct or indirect liability with the Bank.
Eligible amount is 70% of estimate amount or Rs.1200/-per square feet whichever is less.
GUARANTEE
Land shall be mortgaged to Bank.
A surety with Land Tax Receipt for loans up to Rs.5 lakhs.
If employee the repayment should be made before retirement and should submit salary recovery statement in the prescribed form.
If not employee the repayment should be made before attaining 60 years
MARGIN
30 % of the loan amount should be deposited to bank
INTEREST REBATE
Applicable to this loan
MORATORIUM
12 months
DOCUMENTS TO BE SUBMITTED
Income proof
Salary Certificate of the Applicant & Guarantors in the prescribed form in case of employees.
Primary deed, Prior deed and other relevant revenue records.
Estimate attested by a qualified Engineer and approved Plan.
Building permit or NOC from Local body.
FORECLOSURE FEE
For Takeover 2% service charge for balance amount.