Additional House L

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

Download Application Form

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

Download Application Form

Professional Educa

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.

Download Application Form

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

Download Application Form

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