Additional House L

TARGET GROUP
Residents of Ernakulam District. BENEFICIARY OF HOUSE LOAN
PURPOSE
Repair or extension of existing house building
LOAN AMOUNT LIMIT
40 lakh including existing loan limit
RATE OF INTEREST
Up to 1 lakh @ 12%
1 lakh to 2 lakh @12%
2 lakh to 5 lakh @12.5%
5 lakh to 10 lakh @ 12.5%
Above 10 lakh @ 12.5%

REPAYMENT PERIOD
15 YEARS
ELIGIBILITY
Residing in Ernakulam district
3 years must be completed after receiving the last installment of the first loan
Remittance of the first loan installments shall be prompt

GUARANTEE
Equitable mortgage for land and house registered to the bank
Employee surety
If employee, the repayment shall be made before retirement ,should submit salary
recovery statement in the prescribed form ,recovery should not go beyond 50% of the total salary If not employee the repayment should be made before attaining 60 years

UPFRONT FEE
10% of the loan amount
INTEREST REBATE
Not 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
Equitable mortgage certificate for land and house registered to the bank

Download Application Form

EDCB OKAY LOAN

TARGET GROUP
Employees of reputed Hospital/Private Institution, Private Schools /Self Financing College with permanent affiliation  
PURPOSE
maintenance of house, marriage, painting ,   purchase consumer articles etc
LOAN AMOUNT LIMIT
Maximum Rs 2  Lakh
RATE OF INTEREST
12%
Loan  PERIOD
36 Months to 60 Months – Non EMI (loan period to be fixed before 6 months of retirement from service)
ELIGIBILITY
Applicant and Sureties must be the Residents of Ernakulam District.  
On the security of Under taking of the employer and salary certificate
Total deduction from salry not exceed 50 % of    gross   salary.
 Applicant and sureties must not have direct liabilities with the bank
Surety conditions –
a.Own salary certificate ,Upto  20 times of the monthly net salary.
b.Surety of one salaried person of same institution having 20 times of   net   salary or One Govt. Employee 
c. One LTR Surety
d. One Surety from Family
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
Under taking of the employer , Declaration

Download Application Form

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

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

Download Application Form

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