What's New

WITH RESPECT TO KERALA BANK FORMATION, INT RATES SLASHED New

Vehicle / Car loan

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Purchase of vehicles
LOAN AMOUNT LIMIT
Up to 25 lakh
RATE OF INTEREST
i    Up to 1 Lakh @ 11.00%
ii   1 to 2 lakh @13.00 %
iii 2 to 5 lakh @ 13.00%
iv Above 5 Lakhs @ 13.00%
Vehicle Loan HP @ 12.25 %
Car Loan   @ 12.00%
REPAYMENT PERIOD
60Months
ELIGIBILITY
Sufficient personal or family income.
Having a driving license
GUARANTEE
If applicant is an Employee:
1) Upto Rs.600000/-:- 1 Employed surety.
If Applicant is not an Employee :-
              1)Upto Rs.6,00,000/- :- 2Employed sureties
Vehicle shall be hypothecated to Bank
Above 600000 property having valuation of 150% of the loan amount
20 cheque leaves of commercial bank
MARGIN
20 % of the Invoice amount including Insurance & Tax should be remitted
INTEREST REBATE
Applicable to this loan
MORATORIUM
3 Months
DOCUMENTS TO BE SUBMITTED
Salary Certificate of the Applicant & Guarantors in the prescribed form
Photocopy of Ration card of Applicant and Identity Card of Guarantors
In case of collateral security
Primary deed, Prior deed and other relevant revenue records with income proof and ID proof.
FORECLOSURE FEE
Nil

Download Application Form

Over Draft To Empl

TARGET GROUP
Members of employees society residing in Ernakulam district
PURPOSE
Various purpose
LOAN AMOUNT LIMIT
Up to 2 lakh
RATE OF INTEREST
Up to 2 lakhs @ 11%
REPAYMENT PERIOD
12 months before the retirement date
ELIGIBILITY
Members of employees society residing in Ernakulam district
GUARANTEE
Guarantee according to bye laws
MARGIN
Rs500
INTEREST REBATE
Not applicable to this loan
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
B statement including the retirement date of the applicants
Account statement of the last day of the month
Collateral demand promissory note and cheque leaves
FORECLOSURE FEE

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

Medical Practition

TARGET GROUP

Qualified medical practitioners age between 25 to 65yrs

PURPOSE
providing finance to Medical practitioners for setting up of clinic, expansion/Modernization/renovation of existing clinic, X-ray lab, pathological lab , purchasing medical equipments ,computers etc.

LOAN AMOUNT LIMIT

Rs.40,00,000/-

TYPE OF LOAN

Composite Type ( Term loan +Working Capital OD @ 10 % of the total loan amount )

RATE OF INTEREST

12% P.a + 3 % penal

Loan PERIOD
100 Months – EMI

ELIGIBILITY

Individuals or partnership firms are eligible.

Promoters should be having minimum qualification MBBS, BDs,BAHMS,BPT or equivalent qualification. Borrower should be registered with respective council.

Upto 70% of the Project Repot

Repayment Process

Through operative account

GUARANTEE

Property for 200% of the loan amount and Gehan should be created in the name of Bank

MARGIN

30% to be deposited for project loan

20% to be deposited for purchasing machinery and land

INTEREST REBATE
Applicable to this loan

Upto 12 months according to the project

DOCUMENTS TO BE SUBMITTED

Project report of the proposed business
Introducer's statement
Election I D card or ration card for address proof