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EDCB SMART LOAN

TARGET GROUP

Employees of the Aided School, Aided College, Cochin Shipyard, Primary Agricultural CS, Employees CS and Ernakulam District oriented government/semi government institutions [non transferable jobs]

PURPOSE
Purchase of Smart Phone/Tablet/Notebook/Laptop.

LOAN AMOUNT LIMIT

Rs 10000 to 50000

RATE OF INTEREST

 11% P.a + 3 % penal

Loan  PERIOD
12 Months to 36 Months – EMI

 ELIGIBILITY

Up to 10 times of the monthly net salary

 

Surety –  1. Salary certificate of the Loanee

                2. Employment certificate from Employer

Repayment Process
Through operative account

Margin
Not applicable to this loan

INTEREST REBATE
Applicable to this loan on maturity. No rebate on pre-closure loan

MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Introducer's statement
Election I D card or ration card for address proof

Salary certificate of the Employee , Employment certificate from the Employer.

Download Application Form

EDCB Express Loan

TARGET GROUP

Employees of Govt/quasi Govt., Aided School Employees/Teachers  etc

PURPOSE
Maintenance of house, marriage, painting ,   purchase consumer articles etc

      LOAN AMOUNT LIMIT

      Maximum Rs 10 Lakh

      RATE OF INTEREST
      Upto Rs. 5,00,000/-  - 12%

      Above Rs. 5,00,000/-  - 12.5%

Loan  PERIOD
12 Months to 100 Months – EMI (loan period to be fixed before 6 months of retirement from service)

      ELIGIBILITY

      Applicant and Sureties must be the Residents of Ernakulam District. 

 Applicant and sureties must not have direct liabilities with the bank

 

Surety conditions –

 

 

Upto 3,00,000

1.Upto  20 times of the monthly net salary.(Own   salary certificate)

2. Total deduction from salary not exceed 60 % of    gross   salary.

3. One Surety from Family

 

3 lakh to 5 lakh

1.Upto  20 times of the monthly net salary.(Own   salary certificate)

2. Total deduction from salary not exceed 60 % of    gross   salary.

3. One Surety from Family

4Surety of one  Govt. Employee having gross salary Rs. 25000/- or surety of two Govt.employee having aggregate gross salary  of Rs. 25000/-.

5 lakh to 10 lakh

1.Upto  20 times of the monthly net salary.(Own   salary certificate)

2. Total deduction from salary not exceed 60 % of    gross   salary.

3. One Surety from Family

4.Surety of two Govt. Employee   having gross salary Rs. 40000/- each

 Repayment Process

Through operative account

 Margin
Not applicable to this loan
INTEREST REBATE

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

Salary certificate of the Employee and Sureties in the prescribed format

PEN Number, SPARK Authorisation

Declaration of Applicant/ Surety  and recovery agreement in prescribed format

Download Application Form

Loan Against Kissa

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Various purpose
LOAN AMOUNT LIMIT
1 lakh subject to 70% of the face value of kisan vikas pathra (whichever is lower)
RATE OF INTEREST
12.00%
REPAYMENT PERIOD
Maximum six years and the period shall not be extended beyond the maturity period of the certificate
ELIGIBILITY
Kisan vikas pathra certificate holders
GUARANTEE
Kisan vikas pathra  discharged by the depositor
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Demand promissory note
Continuing security letter
Take delivery letter
Letter addressed to the post office authorizing the bank to collect interest payable on NSCs ,in form 87
Letter of pledge of national saving certificate in form no 41
FORECLOSURE  FEE

Download Application Form

Over Draft Facilit

TARGET GROUP
The confirmed employees on the regular services of the primary agricultural credit co operative societies affiliated to the bank
PURPOSE
House Repair, Education of Children , Medical Treatment etc.
LOAN AMOUNT LIMIT
Up to 1 lakh
RATE OF INTEREST
11.00%
REPAYMENT PERIOD
Maturity date of RD or the date of retirement which ever is earlier
ELIGIBILITY
Employees having a RD account for a period of sixty months
GUARANTEE
Two employees sureties
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Demand promissory note and an agreement in the prescribed form.
Salary Certificate of the Applicant & Guarantors in the prescribed form.
Committee Resolution of the Society
FORECLOSURE  FEE
Not applicable to this loan

Download Application Form

Current Deposit

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Savings Deposit

An SB account is the most common deposit account.

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Fixed Deposit

Fixed Deposit refers to

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Recurring Deposit

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