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

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Mangalya Soothra L

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
Marriage for financially backward women and livelihood for families(Karshika loan)
LOAN AMOUNT LIMIT
25000 rupees
RATE OF INTEREST
5.00%
REPAYMENT PERIOD
For marriage 3 years and 6 months for karshika loan
ELIGIBILITY
Financially back ward parents  ,is a member of the society
GUARANTEE
Employee salary surety not less than 5000 as salary
property for 170% of the loan amount
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

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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

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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

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