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WITH RESPECT TO KERALA BANK FORMATION, INT RATES SLASHED New

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