Personal Loan
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of home appliance including computer and lap top
LOAN AMOUNT LIMIT
Upto 1 Lakh
RATE OF INTEREST
13.00%
REPAYMENT PERIOD
60 Months for home appliances and 36 months for computer and laptop
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.50,000/-:- 1 Employed surety & LTR of applicant
2)Rs.50,001 to Rs.1,00,000/-: 2 Employed surety & LTR of applicant
Consumer articles shall be hypothecated to Bank
Margin
20% of the applied amount.
INTEREST REBATE
Applicable to this loan (Subject to condition)
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Income proof
Salary Certificate of the Applicant & Guarantors in the prescribed form.
Photocopy of Ration card of applicant & Identity card of Guarantors
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)
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.
Vehicle / Car loan
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of vehicles
LOAN AMOUNT LIMIT
Up to 25 lakh
RATE OF INTEREST
i Up to 1 Lakh @ 11.00%
ii 1 to 2 lakh @13.00 %
iii 2 to 5 lakh @ 13.00%
iv Above 5 Lakhs @ 13.00%
Vehicle Loan HP @ 12.25 %
Car Loan @ 12.00%
REPAYMENT PERIOD
60Months
ELIGIBILITY
Sufficient personal or family income.
Having a driving license
GUARANTEE
If applicant is an Employee:
1) Upto Rs.600000/-:- 1 Employed surety.
If Applicant is not an Employee :-
1)Upto Rs.6,00,000/- :- 2Employed sureties
Vehicle shall be hypothecated to Bank
Above 600000 property having valuation of 150% of the loan amount
20 cheque leaves of commercial bank
MARGIN
20 % of the Invoice amount including Insurance & Tax should be remitted
INTEREST REBATE
Applicable to this loan
MORATORIUM
3 Months
DOCUMENTS TO BE SUBMITTED
Salary Certificate of the Applicant & Guarantors in the prescribed form
Photocopy of Ration card of Applicant and Identity Card of Guarantors
In case of collateral security
Primary deed, Prior deed and other relevant revenue records with income proof and ID proof.
FORECLOSURE FEE
Nil