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

Overdraft to Indiv

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

Download Application Form

Sadhujana Punarudh

TARGET GROUP
Church, temple, Mosque, Madam, NSS SNDP,social groups
PURPOSE
For financially backward people for there livelihood
LOAN AMOUNT LIMIT
Up to 10000 rupees for each
RATE OF INTEREST
10.00%
REPAYMENT PERIOD
100 months
ELIGIBILITY
Members in the social institutions
GUARANTEE
Two personal surety  from the same group
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Copy of the committee Resolution taken by the social  institution  for applying loan from the bank
Address and identity  proof of  the authorized  committee  members
List of the beneficiary under the scheme and identity proof and passport size photo 
FORECLOSURE  FEE

Download Application Form

YUVASAKTHI LOAN SC

TARGET GROUP

People belonging the age group between 22 to 45 yrs having Degree/Diploma /Institutions registered under Indian Partnership Act/Companies Act/ Trust Act/ Charitable Societies Act etc
PURPOSE

To start Business

LOAN AMOUNT LIMIT

Rs. 30,00,000/-

RATE OF INTEREST
12.00% p.a + 3 % penal

Loan  PERIOD
120 Months– EMI

 ELIGIBILITY

Upto 70% of the Project Repot

Repayment Process

Through operative account

GUARANTEE

Property for 200% of the loan amount and Gehan should be created in the name of Bank

Margin

30% to be deposited for project loan

20% to be deposited for purchasing machinery and land

INTEREST REBATE
Applicable to this loan

MORATORIUM
Upto 12 months according to the project

DOCUMENTS TO BE SUBMITTED

Project report of the proposed business
Introducer's statement
Election I D card or ration card for address proof

Salary certificate of the guarantors in the prescribed form

Equitable mortgage agreement

Original deed and Prior deed.

In the case of loans to companies charge to be create with Registrar of Companies before disbursing loan

All other norms of project loan  is applicable to this loan also

Download Application Form

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