Additional House L
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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
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Short Term Loan Th
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
As per the decision of the co-op society
LOAN AMOUNT LIMIT
Fixed by the society according to the bye-laws
RATE OF INTEREST
As per the decision of the executive committee of the Bank from time to time
REPAYMENT PERIOD
12 Months
ELIGIBILITY
Members of the co-op society
GUARANTEE
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
FORECLOSURE FEE
Not applicable to this loan
Professional Educa
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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.
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Property Purchase
TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchasing flat, land ,house, shops
LOAN AMOUNT LIMIT
100 LAKH 40 LAKHS
RATE OF INTEREST
Upto 3 lakh 13%
above 3 lakh 13%
REPAYMENT PERIOD
10 YEARS
ELIGIBILITY
Residing in Ernakulam district
Applicant must have property in Ernakulam district
Applicant must not have direct liabilities with the bank
Applicant must have sufficient repayment capacity
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 with land tax receipt
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
12 months
DOCUMENTS TO BE SUBMITTED
Income proof and certificate
Salary Certificate of the Applicant & Guarantors in the prescribed form
Primary deed, Prior deed and other relevant revenue records.
Original purchase agreement.
Newly registered document after registration.
Surety with LTR for loans up to Rs.5 lakhs.
FORECLOSURE FEE
Service charge @ 1% plus service tax before closing within 2 years