What's New

Cash Credit

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
For meeting the working capital/block working capital requirements or both to registered traders, registered government/quasi Government contractors and for Doctors ,Engineers ,Chartered Accountants, Advocates etc
LOAN AMOUNT LIMIT
Up to 10 lakh for professionals
Up to 50 lakh for others
RATE OF INTEREST
Up to 5 lakh @13.5%
Above 5 lakhs @ 13.5%
REPAYMENT PERIOD
1 year
ELIGIBILITY
The borrower and sureties shall be natives of Eranakulam  District
GUARANTEE
Shall mortgage/hypothecate the entire assets created out of the cash credit granted by the bank
property for 170% of the cash credit amount
One personal security with land /building tax receipt .
UPFRONT FEE
20% of the applied amount.
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Audited balance sheet trading and P&L account for the last 3 financial years in case of existing business
License and service Tax registration certificate/ VAT certificate
Copy of Income tax Returns
Stock statement for preceding 6 months
In case of collateral security
Primary deed, Prior deed and other relevant revenue records
FORECLOSURE  FEE

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

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 E-SCHOOL LOAN

TARGET GROUP

parents of the School students in the range from 8th standard to 12th standard
PURPOSE

Purchase of Tablet and Cycles

 LOAN AMOUNT LIMIT

Rs 3000 to 10000/-

RATE OF INTEREST
10.5% p.a + 3 % penal

Loan  PERIOD
12 Months to 36 Months – EMI

ELIGIBILITY

Surety- Parent LTR Receipt should be produced

Repayment Process

Through operative account in the name of Student & Parent

 MARGIN

Not applicable to this loan
INTEREST REBATE

Applicable to this loan on maturity. No rebate on pre-closure loan

MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Introducer's statement
Election I D card or ration card for address proof

Land Tax receipt of Parent

Download Application Form

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