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

Mangalya Soothra L

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
Marriage for financially backward women and livelihood for families(Karshika loan)
LOAN AMOUNT LIMIT
25000 rupees
RATE OF INTEREST
5.00%
REPAYMENT PERIOD
For marriage 3 years and 6 months for karshika loan
ELIGIBILITY
Financially back ward parents  ,is a member of the society
GUARANTEE
Employee salary surety not less than 5000 as salary
property for 170% of the loan amount
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not 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
Tax receipt of the land
Survey number , area of the land and the description of crops should be listed
FORECLOSURE  FEE

Download Application Form

Mangalya Soothra L

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
Marriage for financially backward women and livelihood for families(Karshika loan)
LOAN AMOUNT LIMIT
25000 rupees
RATE OF INTEREST
5.00%
REPAYMENT PERIOD
For marriage 3 years and 6 months for karshika loan
ELIGIBILITY
Financially back ward parents
GUARANTEE
Employee salary surety not less than 5000 as salary
property for 170% of the loan amount
UPFRONT FEE
Not applicable to this loan
INTEREST REBATE
Not 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
Tax receipt of the land
Survey number , area of the land and the description of crops should be listed
FORECLOSURE  FEE

Download Application Form

Scheme For Purchas

TARGET GROUP
Residents of Ernakulam District. 
PURPOSE
Business, Contract Business, Trade, Professional
LOAN AMOUNT LIMIT
Up to 5 lakh
RATE OF INTEREST
13.50%
REPAYMENT PERIOD
1 year
ELIGIBILITY
The borrower and sureties shall be natives of Eranakulam  District
Must not have  credit facilities with other Banks
GUARANTEE
Property security
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
Security delivery letter
Agreement for bills purchased and discounted
Delivery letter for purchase of cheque
FORECLOSURE  FEE

Download Application Form

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