OL Education Socie
TARGET GROUP
All PACS and Employees Societies affiliated to our Bank.
PURPOSE
Education for children upto U.P,H.S,College / HSC division
LOAN AMOUNT LIMIT
Rs.35000/- for a family
U.P.School – Rs.6000/-
High School – Rs.12,000/-
College / HSC – Rs.15000/-
RATE OF INTEREST
10 %
REPAYMENT PERIOD
10 Months.
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
GUARANTEE
On personal & property security (According to Bye-law 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.opve Societies.
8. Students Standard Wise details of B statement (Upto U.P,H.s,college)
Ordinary Loan( Che
TARGET GROUP
Residents of Ernakulam District and Employees of commercial banks, Reputed companies, LIC, other insurance companies, Government and quasi government undertakings.
PURPOSE
Education, Marriage, Medical Treatment, House Repair, Painting,
LOAN AMOUNT LIMIT
Rs.10 lakhs on the basis of applicants Net salary
RATE OF INTEREST
Up to 1 lakh @ 12%
1,00,001 to 2 lakh @13%
2,00,001 to 5 lakh @ 14 %
Above Rs.5 lakhs @ 15%
REPAYMENT PERIOD
60 Months
ELIGIBILITY
On the basis of applicants Net salary
GUARANTEE
Upto Rs.2 Lakh:
1 Employed surety.
Rs.2 lakh to Rs.5 Lakh :
2 Employed sureties and 20 cheque leafs
Above Rs.5 Lakhs:
1)3 Employed sureties having monthly salary not below Rs.10000/-
2)LTR of applicant
3)Photocopy of Title deed of the property of applicant or his / her family members
MARGIN
20% of the Invoice amt should be remitted to bank in the case of purchase of consumer articles
INTEREST REBATE
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
20 cheque leaves of commercial bank.
For purchase of vehicle, Vehicle shall be hypothecated to bank.
Photocopy of Ration card of applicant & Identity card of Guarantors
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
Small Scale Indust
TARGET GROUP
Residing in Ernakulam district
PURPOSE
Business , Studies and employment in abroad ,Tourism projects.
LOAN AMOUNT LIMIT
Up to 10 lakh
RATE OF INTEREST
Up to 1 lakh @ 12%
1 lakh to 2 lakh @13%
2 lakh to 5 lakh @ 14%
Above 5 lakh @15%
REPAYMENT PERIOD
100 months
ELIGIBILITY
The age of the borrower should not exceed 50 years
GUARANTEE
Property worth Rs 170% of the loan amount
One personal security with land tax receipt .
MARGIN
10% of the loan amount
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Applicable to this loan
DOCUMENTS TO BE SUBMITTED
Property deed
FORECLOSURE FEE