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House Loan For Soc

TARGET GROUP
Society employees residing in Ernakulam district
PURPOSE
For building house
LOAN AMOUNT LIMIT
Up to 5 lakh
RATE OF INTEREST
Up to 1 lakh @ 11%
1 lakh to 2 lakh@ 12%
2 lakh to 5 lakh@ 13%
5 lakhs to 10 lakhs @14%
REPAYMENT PERIOD
15 years
ELIGIBILITY
Residing in Ernakulam district
Applicant must have sufficient repayment capacity
Applicant or spouse should not have house in their name in Ernakulam district
Property should be in the name of applicant and free from liabilities
Applicant should not have direct liabilities with the bank
GUARANTEE
Equitable mortgage on Property and house
UPFRONT FEE
30% of the loan amount
INTEREST REBATE
Not applicable to this loan
MORATORIUM
12 months
DOCUMENTS TO BE SUBMITTED
Plan and estimate of house
NOC certificate for construction from local bodies
Salary certificate in prescribed form
Salary recovery agreement
Possession and non attachment certificate
location sketch and land tax bill
property deed
FORECLOSURE FEE

Download Application Form

YUVASAKTHI LOAN SC

TARGET GROUP

People belonging the age group between 22 to 45 yrs having Degree/Diploma /Institutions registered under Indian Partnership Act/Companies Act/ Trust Act/ Charitable Societies Act etc
PURPOSE
To start Business

LOAN AMOUNT LIMIT

Rs. 30,00,000/-

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

Loan PERIOD
120 Months– EMI

ELIGIBILITY

Upto 70% of the Project Repot

Repayment Process

Through operative account

GUARANTEE

Property for 200% of the loan amount and Gehan should be created in the name of Bank

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.

In the case of loans to companies charge to be create with Registrar of Companies before disbursing loan

All other norms of project loan is applicable to this loan also

Download Application Form

Gold Loan( Suvarna

TARGET GROUP

Residents of Ernakulam District.

PURPOSE

Various purpose

LOAN AMOUNT LIMIT

Maximum Rs. 25 Lakh

RATE OF INTEREST

7% for 1 month and 11% for the rest

Loan PERIOD

6Months

ELIGIBILITY

Loanee must have the ownership or the right to pledge the gold ornaments.

GUARANTEE

Gold ornaments

DOCUMENTS TO BE SUBMITTED

Introducer's statement

Election I D card or ration card for address proof

Repayment Process

Through operative account

Margin

Not applicable to this loan

INTEREST REBATE

Applicable to this loan

MORATORIUM

Not applicable to this loan

Download Application Form

Consumer Loan Soci

TARGET GROUP
All Societies affiliated to our Bank
PURPOSE
Purchase of consumer articles
LOAN AMOUNT LIMIT
Based on the IMBP & Reserve Borrowing Power of the Society
RATE OF INTEREST
12.5%
REPAYMENT PERIOD
58 months (according to the provision in the byelaw)
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
90 % of Estimate
GUARANTEE
According .to Byelaw of the society
UPFRONT FEE
10 % of Invoice.
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
1.Prescribed Application Form (Same forms are used for OL,OLM,OLE & HL)
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.
8. Enclosure Cons/ Socs- I Statement.