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

Download Application Form

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

Kanaka sree gold C

TARGET GROUP
Residents of Ernakulam District. 
 
PURPOSE
Various purpose 

LOAN AMOUNT LIMIT
Minimum Rs. 10,000/- , Maximum Rs. 25  Lakh

RATE OF INTEREST
9.50%

Loan  PERIOD
12 Months

ELIGIBILITY
Loanee must have the ownership or the right to pledge the gold ornaments.

GUARANTEE
Gold ornaments

Other facilities
Rupay Card/ Cheque book facility available

DOCUMENTS TO BE SUBMITTED
Introducer's statement
Election I D card or ration card for address proof
Repayment Process
Through operative account

Margin
Not applicable to this loan

INTEREST REBATE
Applicable to this loan 

MORATORIUM
Not applicable to this loan

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

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