Rural Tourism Sche
TARGET GROUP
Church, temple, Mosque, Madam, NSS SNDP, Social groups
PURPOSE
For building tourist homes restaurants, purchasing tourist boat and for home stay
LOAN AMOUNT LIMIT
Up to Rs. 25 lakh for building tourist homes restaurants, and for purchasing tourist boat up to Rs.10 lakhs
RATE OF INTEREST
Depends upon the project
REPAYMENT PERIOD
10 years for building tourist homes restaurants, and 60 months for purchasing tourist boat
ELIGIBILITY
Members in the social institutions
GUARANTEE
Property for 170% of the loan amount
Property deed of the constructing project in case of tourist homes restaurant
Hypothication of boat in case of purchasing boat
UPFRONT FEE
5% of loan amount should be deposited
INTEREST REBATE
Not applicable to this loan
MORATORIUM
6 months for building tourist homes restaurants and for purchasing tourist boat
DOCUMENTS TO BE SUBMITTED
Certificate for working of tourist homes restaurant from authorities
FORECLOSURE FEE
Ordinary Loan Soci
TARGET GROUP
All Societies affiliated to our Bank.
PURPOSE
Education, Marriage, Medical Treatment, House Repair, Painting, (Purpose approved by the Byelaw of society)
LOAN AMOUNT LIMIT
Based on the IMBP & Reserve Borrowing Power of the Society
RATE OF INTEREST
12%
REPAYMENT PERIOD
60 Months / 1year to 5 yearly installments.
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
GUARANTEE
On personal & property security (According to the Byelaw of the society)
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
1.Prescribed Application Form
2. Committee Resolution
3.”B Statement” regarding the details of Security offered / Personal Sureties.
4. Copy of Audited Balance Sheet & Latest B/ S, Trading A/C, P & L a/c etc.
5. Copy of Bye Law, Copy of defects pointed out in the Audit Report and measures taken for rectification.
6. Certificates regarding the negative Lien on their fixed Assets.
7. Certificate regarding the Non-Membership in other Credit Co.op Societies.
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
Vehicle / Car loan
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of vehicles
LOAN AMOUNT LIMIT
Up to 25 lakh
RATE OF INTEREST
i Up to 1 Lakh @ 11.00%
ii 1 to 2 lakh @13.00 %
iii 2 to 5 lakh @ 13.00%
iv Above 5 Lakhs @ 13.00%
Vehicle Loan HP @ 12.25 %
Car Loan @ 12.00%
REPAYMENT PERIOD
60Months
ELIGIBILITY
Sufficient personal or family income.
Having a driving license
GUARANTEE
If applicant is an Employee:
1) Upto Rs.600000/-:- 1 Employed surety.
If Applicant is not an Employee :-
1)Upto Rs.6,00,000/- :- 2Employed sureties
Vehicle shall be hypothecated to Bank
Above 600000 property having valuation of 150% of the loan amount
20 cheque leaves of commercial bank
MARGIN
20 % of the Invoice amount including Insurance & Tax should be remitted
INTEREST REBATE
Applicable to this loan
MORATORIUM
3 Months
DOCUMENTS TO BE SUBMITTED
Salary Certificate of the Applicant & Guarantors in the prescribed form
Photocopy of Ration card of Applicant and Identity Card of Guarantors
In case of collateral security
Primary deed, Prior deed and other relevant revenue records with income proof and ID proof.
FORECLOSURE FEE
Nil