House Loan Societi
TARGET GROUP
All Societies affiliated to our Bank.
PURPOSE
House construction /purchase
LOAN AMOUNT LIMIT
Based on the IMBP of the Society . Max. – Rs.5 lakhs
RATE OF INTEREST
12.5%
REPAYMENT PERIOD
174 months
ELIGIBILITY
1) Audit classification should be A or B
2) % of overdues to demand should not exceed 40% and that of House construction Loan should not exceed 15 %
3) 80 % of Estimate
GUARANTEE
On personal & property security (According to Byelaw of the society)
MORATORIUM
6 months
DOCUMENTS TO BE SUBMITTED
1.Prescribed Application Form
2. Committee Resolution.
3 Copy of Audited Balance Sheet & Latest B/ S, Trading A/C, P & L a/c etc.
4. Copy of Bye Law, Copy of defects pointed out in the Audit Report and measures taken for rectification.
5. Certificates regarding the negative Lien on their fixed Assets.
6. Certificate regarding the Non-Membership in other Credit Co.opve Societies.
7 DHL – 3 Form.
8.Plan & Estimate Approved not below the Rank of Asst .Engineer should be obtained
9 .Approval order from concerned Corporation / Municipality / Panchayath.
Ordinary Loan ( Lo
TARGET GROUP
Residents of Ernakulam District. Owing commercial building rentered to government , corporate ,co operative institution
PURPOSE
For repairing or further construction
LOAN AMOUNT LIMIT
Up to 10 lakh
RATE OF INTEREST
Up to 1 lakh @ 12.00%
1,00,000 to 2 lakh @12.00%
2,00,001 to 5 lakh @ 12.00 %
Above Rs.5 lakhs @ 13.50%
REPAYMENT PERIOD
60 months Before the ending period of lease agreement
GUARANTEE
Property for 150% of the loan amount
Irrevocable power of attorney from the leaser to the bank
MARGIN
500/-
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Irrevocable power of attorney,
Primary deed and prior deed.
FORECLOSURE FEE
Nil
Gold Loan (Over dr
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
For personal
LOAN AMOUNT LIMIT
Upto 10 Lakh
RATE OF INTEREST
Up to 1 lakh @ 12.00%
1,00,001/- to 3 lakh @ 12%
3,00,001/- to 5 lakh @ 12.00%
Above 5 lakh @ 12%
REPAYMENT PERIOD
3 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
Gold ornaments
Personal
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Introducer's statement
Address proof document
FORECLOSURE FEE
Overdraft to Indiv
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