What's New

House Loan (Purcha

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
For purchasing house ,flat ,and property
LOAN AMOUNT LIMIT
Up to 40 lakhs 30/- LAKHS
RATE OF INTEREST
13.5% 12.5%
REPAYMENT PERIOD
180 Months
ELIGIBILITY
ufficient personal or family income.
The applicant does not have any direct or indirect liability with the Bank. (as loanee or surety)
Eligible amount is 60% of the valuation of purchase property in case of loan applications up to Rs.25 lakhs and 50% of valuation of purchase property for above Rs.25 lakhs. In case of other properties as security, eligible amount will be 70% of valuation of security property or 90% of valuation of purchase property whichever is less.
GUARANTEE
Equitable mortgage of purchasing house or land
Employee surety and surety
Property equal to loan amount
MARGIN
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Income proof
Primary deed, Prior deed and other relevant revenue records.
Purchase Agreement in original.
Newly registered document should be submitted on registration
FORECLOSURE FEE
1% of the loan amount.

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

Integrated Village

TARGET GROUP
District/Block/Grama Panchayat
PURPOSE
Infrastructural development at Panchayat level
LOAN AMOUNT LIMIT
Depends upon the project
RATE OF INTEREST
Depends upon the project
REPAYMENT PERIOD
Depends upon the project
ELIGIBILITY
District/Block/Gramma Panchayat
GUARANTEE
Property of the proposed project and additional property if needed.
UPFRONT FEE
10% of the loan amount
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Project
Resolution of the concerned District/Block/Gramma Panchayat committe