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
Property Purchase
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchasing flat, land ,house, shops
LOAN AMOUNT LIMIT
100 LAKH 40 LAKHS
RATE OF INTEREST
Upto 3 lakh 13%
above 3 lakh 13%
REPAYMENT PERIOD
10 YEARS
ELIGIBILITY
Residing in Ernakulam district
Applicant must have property in Ernakulam district
Applicant must not have direct liabilities with the bank
Applicant must have sufficient repayment capacity
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 with land tax receipt
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
12 months
DOCUMENTS TO BE SUBMITTED
Income proof and certificate
Salary Certificate of the Applicant & Guarantors in the prescribed form
Primary deed, Prior deed and other relevant revenue records.
Original purchase agreement.
Newly registered document after registration.
Surety with LTR for loans up to Rs.5 lakhs.
FORECLOSURE FEE
Service charge @ 1% plus service tax before closing within 2 years
Gold Agriculture L
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Agricultural purposes
LOAN AMOUNT LIMIT
5 LAKH
RATE OF INTEREST
10.50%
REPAYMENT PERIOD
12 MONTHS
ELIGIBILITY
Agriculture Operations
GUARANTEE
Personal:
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
Tax receipt of the land
Survey number , area of the land and the description of crops should be listed
FORECLOSURE FEE
Ordinary Loan (Mar
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Marriage of daughter, Sister in special case
LOAN AMOUNT LIMIT
Up to 2 lakh
RATE OF INTEREST
Up to 50,000 @10.00%
Up to to 50,001 to 1 lakh @ 11.00%
Above 1 lakh @ 12.00%
REPAYMENT PERIOD
100 Months
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.50, 000/-:- 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.50000/-:- 1Employed surety & LTR of applicant
2) Rs.50,001 to Rs.1,00,000/-: 2 Employed surety & LTR of applicant
In case of collateral security
Security property with a valuation of 170% of applied amount.
A surety with Land Tax Receipt shall be given for the loan applications up to Rs.5 lakhs
MARGIN
Rs.500/-
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Income proof
Salary Certificate of the Applicant & Guarantors in the prescribed form.
The marriage agreement from community and between the families
Primary deed, Prior deed and other relevant revenue records in the case of property security.
Photocopy of Ration card of applicant & Identity card of Guarantors.