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
Smart Space Loan
TARGET GROUP
residing in Ernakulam district
PURPOSE
To own house, flat, shops, rooms in Ernakulam district
LOAN AMOUNT LIMIT
Up to 50 lakh
RATE OF INTEREST
Up to 5 lakh @ 13.50%
Above 5 lakh @13.50%
REPAYMENT PERIOD
15 years
ELIGIBILITY
Applicant must have sufficient repayment capacity
GUARANTEE
Employee surety
Equitable mortgage of the purchasing property
UPFRONT FEE
Up to 10 lakhs 40% Above 10 lakhs 50%
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Revenue records and tax receipt and property deed
Agreement from the applicant in prescribed form
FORECLOSURE FEE
Service charge @ 1% plus service tax before closing within 2 years
Gold Loan
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
For personal
LOAN AMOUNT LIMIT
Up to 25 lakh
RATE OF INTEREST
Upto 6 Months
Upto 3 lakh @ 11.00 %
Above 3 lakh @ 11.00 %
Above 6 Months
Upto 3 lakh @ 11.00%
Above 3 lakh @ 11.00%
REPAYMENT PERIOD
Up to 6 months loan - 6 Months
Abouve 6 Months - 12 Months
ELIGIBILITY
Loanee must have the ownership or the right to pledge the gold ornaments
GUARANTEE
Gold ornaments
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
Election I D card or ration card for address proof
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