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House Loan

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
For construction of house building and repairs, extension, painting for existing building, construction of compound wall etc.
LOAN AMOUNT LIMIT
Rs.40 Lakhs - For new houses RS.30/- LAKHS FOR NEW HOUSES
Rs.10 lakhs - For Repairing, extension etc.HOUSE MAINTANANCE RS.1/- LAKH
RATE OF INTEREST
Up to 1 lakh @ 11.00%
1,00,001/- to 2 lakh @11.00%
2,00,001/- to 3 lakh @11.00%
3,00,001/- to 5 lakh @12.50%
5,00,001/- to 10 lakh @ 12.50%
Above 10 lakh @ 12.50%
REPAYMENT PERIOD
15 years
ELIGIBILITY
Property must be in applicants name and the residence shall be at Ernakulam district
Sufficient income to repay the loan amount
The applicant should not have any direct or indirect liability with the Bank.
Eligible amount is 70% of estimate amount or Rs.1200/-per square feet whichever is less.
GUARANTEE
Land shall be mortgaged to Bank.
A surety with Land Tax Receipt for loans up to Rs.5 lakhs.
If employee the repayment should be made before retirement and should submit salary recovery statement in the prescribed form.
If not employee the repayment should be made before attaining 60 years
MARGIN
30 % of the loan amount should be deposited to bank
INTEREST REBATE
Applicable to this loan
MORATORIUM
12 months
DOCUMENTS TO BE SUBMITTED
Income proof
Salary Certificate of the Applicant & Guarantors in the prescribed form in case of employees.
Primary deed, Prior deed and other relevant revenue records.
Estimate attested by a qualified Engineer and approved Plan.
Building permit or NOC from Local body.
FORECLOSURE FEE
For Takeover 2% service charge for balance amount.

Download Application Form

EDCB Express Loan

TARGET GROUP

Employees of Govt/quasi Govt., Aided School Employees/Teachers etc

PURPOSE
Maintenance of house, marriage, painting , purchase consumer articles etc

LOAN AMOUNT LIMIT

Maximum Rs 10 Lakh

RATE OF INTEREST
Upto Rs. 5,00,000/- - 12%

Above Rs. 5,00,000/- - 12.5%

Loan PERIOD
12 Months to 100 Months – EMI (loan period to be fixed before 6 months of retirement from service)

ELIGIBILITY

Applicant and Sureties must be the Residents of Ernakulam District.

Applicant and sureties must not have direct liabilities with the bank

Surety conditions –


Upto 3,00,000	1.Upto 20 times of the monthly net salary.(Own salary certificate) 2. Total deduction from salary not exceed 60 % of gross salary. 3. One Surety from Family
3 lakh to 5 lakh	1.Upto 20 times of the monthly net salary.(Own salary certificate) 2. Total deduction from salary not exceed 60 % of gross salary. 3. One Surety from Family 4Surety of one Govt. Employee having gross salary Rs. 25000/- or surety of two Govt.employee having aggregate gross salary of Rs. 25000/-.
5 lakh to 10 lakh	1.Upto 20 times of the monthly net salary.(Own salary certificate) 2. Total deduction from salary not exceed 60 % of gross salary. 3. One Surety from Family 4.Surety of two Govt. Employee having gross salary Rs. 40000/- each

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

PEN Number, SPARK Authorisation

Declaration of Applicant/ Surety and recovery agreement in prescribed format

Download Application Form

Professional Educa

TARGET GROUP
Residents of Ernakulam District. Students residing at Ernakulam district doing professional courses from the recognized universities of India / abroad
PURPOSE
For studying Engineering, Medical courses, (M.B.B.S.,B.D.S.,B.A.M.S.,B.H.M.S.,B.SC Nursing) ,M B A ,M C A , M S , M D , M D S , M S W ,.
LOAN AMOUNT LIMIT
Up to 25lakh
RATE OF INTEREST
Up to 25 lakh @ 12%
REPAYMENT PERIOD
Only interest up to the completion of studies. For a period of 100 months or Course period whichever is less, monthly interest shall be paid. After that period principal shall be repaid in 100 equal Monthly installments along with interest.
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
Upto Rs.2 lakh:-
1 Employed surety having monthly salary not below Rs.5000/- & surety ship of parents
                                                      or
If Father / mother is an employee, outside employed surety is not necessary.
                                                      or
1 employed surety if only Father / Mother is an employee.
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
Salary Certificate of the Applicant & Guarantors in the prescribed form
Admission certificate from the educational institution.
20 cheque leaves of commercial bank
For studying aboard the passport, air ticket, visa .should be submitted.
In case of collateral security
Primary deed, Prior deed and other relevant revenue records in the case of property security.

Download Application Form

Loan Against Natio

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Various purpose
LOAN AMOUNT LIMIT
2 LAKH
RATE OF INTEREST
12.00%
REPAYMENT PERIOD
6 YEARS and the period shall not be extended beyond the maturity period of the certificate
ELIGIBILITY
National Saving Certificate holders
GUARANTEE
National Saving Certificate
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Demand promissory note
Continuing security letter
Take delivery letter
Letter addressed to the post office authorizing the bank to collect interest payable on NSCs ,in form 87
Letter of pledge of national saving certificate in form no 41
FORECLOSURE FEE
Not applicable to this loan