What's New

Margin Money Loan

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
Purchase of Self Employment Equipments & Working capital.
LOAN AMOUNT LIMIT
Up to 10 lakh for individuals and for 25 lakh to societies and institutions approved by Khadhi board
RATE OF INTEREST
Up to 3 lakh @ 14%
Above 3 lakh @15%
REPAYMENT PERIOD
7 years
ELIGIBILITY
Sufficient income to repay the loan amount
The applicant does not have any direct or indirect liability with the Bank. (as loanee or surety)
Who can give job at least one person with every 50000 of the loan amount
GUARANTEE
Approval by the khadi board
Certificate from the project manager (KVIB)
Landed property
MARGIN
10%down payment and for SC /ST 5%
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Approval by the khadi board
Certificate from the project manager (KVIB)
Original deed
FORECLOSURE  FEE

Download Application Form

Smart Space Loan

TARGET GROUP
residing in Ernakulam district
PURPOSE
To own house, flat, shops, rooms in Ernakulam district
LOAN AMOUNT LIMIT
Up to 50 lakh
RATE OF INTEREST
Up to 5 lakh @ 13.50%
Above 5 lakh @13.50%
REPAYMENT PERIOD
15 years
ELIGIBILITY
Applicant must have sufficient repayment capacity
GUARANTEE
Employee surety
Equitable mortgage of the purchasing property
UPFRONT FEE
Up to 10 lakhs 40%      Above 10 lakhs 50%
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Revenue records and tax receipt and property deed
Agreement from the applicant in prescribed form
FORECLOSURE  FEE
Service charge @ 1%  plus service tax before closing within 2 years

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

Loan Against Kissa

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Various purpose
LOAN AMOUNT LIMIT
1 lakh subject to 70% of the face value of kisan vikas pathra (whichever is lower)
RATE OF INTEREST
12.00%
REPAYMENT PERIOD
Maximum six years and the period shall not be extended beyond the maturity period of the certificate
ELIGIBILITY
Kisan vikas pathra certificate holders
GUARANTEE
Kisan vikas pathra  discharged by the depositor
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Demand promissory note
Continuing security letter
Take delivery letter
Letter addressed to the post office authorizing the bank to collect interest payable on NSCs ,in form 87
Letter of pledge of national saving certificate in form no 41
FORECLOSURE  FEE

Download Application Form

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