Smart Space Loan

TARGET GROUP
residing in Ernakulam district
PURPOSE
To own house, flat, shops, rooms in Ernakulam district
LOAN AMOUNT LIMIT
Up to 50 lakh
RATE OF INTEREST
Up to 5 lakh @ 13.50%
Above 5 lakh @13.50%
REPAYMENT PERIOD
15 years
ELIGIBILITY
Applicant must have sufficient repayment capacity
GUARANTEE
Employee surety
Equitable mortgage of the purchasing property
UPFRONT FEE
Up to 10 lakhs 40%      Above 10 lakhs 50%
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Revenue records and tax receipt and property deed
Agreement from the applicant in prescribed form
FORECLOSURE  FEE
Service charge @ 1%  plus service tax before closing within 2 years

Download Application Form

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

Margin Money Loan

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
Purchase of Self Employment Equipments & Working capital.
LOAN AMOUNT LIMIT
Up to 10 lakh for individuals and for 25 lakh to societies and institutions approved by Khadhi board
RATE OF INTEREST
Up to 3 lakh @ 14%
Above 3 lakh @15%
REPAYMENT PERIOD
7 years
ELIGIBILITY
Sufficient income to repay the loan amount
The applicant does not have any direct or indirect liability with the Bank. (as loanee or surety)
Who can give job at least one person with every 50000 of the loan amount
GUARANTEE
Approval by the khadi board
Certificate from the project manager (KVIB)
Landed property
MARGIN
10%down payment and for SC /ST 5%
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Approval by the khadi board
Certificate from the project manager (KVIB)
Original deed
FORECLOSURE  FEE

Download Application Form

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

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