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Self Employment Lo

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of Self Employment Equipments & Working capital.
LOAN AMOUNT LIMIT
Up to 25 lakh
RATE OF INTEREST
12.00%
REPAYMENT PERIOD
100 Months
ELIGIBILITY
Sufficient personal or family income.
GUARANTE
Upto Rs.2 lakh –
1)4 Employed sureties having monthly salary of not below Rs.4000/- or 3 Employed sureties having monthly salary of not below Rs.5000/-
2)Hypothecation of Goods.
3)Above 2 lakh :- Property 150% to the loan amount
MARGIN
10 % of the Invoice amount should be remitted
INTEREST REBATE
Applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
Project report
Salary Certificate of the Guarantors in the prescribed form
Primary deed, Prior deed and other relevant revenue records.
FORECLOSURE FEE

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

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

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