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Loan Against Natio

TARGET GROUP
Residents of Ernakulam District.
PURPOSE
Various purpose
LOAN AMOUNT LIMIT
2 LAKH
RATE OF INTEREST
12.00%
REPAYMENT PERIOD
6 YEARS and the period shall not be extended beyond the maturity period of the certificate
ELIGIBILITY
National Saving Certificate holders
GUARANTEE
National Saving Certificate
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
Not applicable to this loan

Download Application Form

EDCB Express Loan

TARGET GROUP

Employees of Govt/quasi Govt., Aided School Employees/Teachers etc

PURPOSE
Maintenance of house, marriage, painting , purchase consumer articles etc

LOAN AMOUNT LIMIT

Maximum Rs 10 Lakh

RATE OF INTEREST
Upto Rs. 5,00,000/- - 12%

Above Rs. 5,00,000/- - 12.5%

Loan PERIOD
12 Months to 100 Months – EMI (loan period to be fixed before 6 months of retirement from service)

ELIGIBILITY

Applicant and Sureties must be the Residents of Ernakulam District.

Applicant and sureties must not have direct liabilities with the bank

Surety conditions –


Upto 3,00,000	1.Upto 20 times of the monthly net salary.(Own salary certificate) 2. Total deduction from salary not exceed 60 % of gross salary. 3. One Surety from Family
3 lakh to 5 lakh	1.Upto 20 times of the monthly net salary.(Own salary certificate) 2. Total deduction from salary not exceed 60 % of gross salary. 3. One Surety from Family 4Surety of one Govt. Employee having gross salary Rs. 25000/- or surety of two Govt.employee having aggregate gross salary of Rs. 25000/-.
5 lakh to 10 lakh	1.Upto 20 times of the monthly net salary.(Own salary certificate) 2. Total deduction from salary not exceed 60 % of gross salary. 3. One Surety from Family 4.Surety of two Govt. Employee having gross salary Rs. 40000/- each

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

PEN Number, SPARK Authorisation

Declaration of Applicant/ Surety and recovery agreement in prescribed format

Download Application Form

Ordinary Loan Soci

TARGET GROUP
All Societies affiliated to our Bank.
PURPOSE
Education, Marriage, Medical Treatment, House Repair, Painting, (Purpose approved by the Byelaw of society)
LOAN AMOUNT LIMIT
Based on the IMBP & Reserve Borrowing Power of the Society
RATE OF INTEREST
12%
REPAYMENT PERIOD
60 Months / 1year to 5 yearly installments.
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
GUARANTEE
On personal & property security (According to the Byelaw of the society)
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
1.Prescribed Application Form
2. Committee Resolution
3.”B Statement” regarding the details of Security offered / Personal Sureties.
4. Copy of Audited Balance Sheet & Latest B/ S, Trading A/C, P & L a/c etc.
5. Copy of Bye Law, Copy of defects pointed out in the Audit Report and measures taken for rectification.
6. Certificates regarding the negative Lien on their fixed Assets.
7. Certificate regarding the Non-Membership in other Credit Co.op Societies.

Download Application Form

Consumer Loan Soci

TARGET GROUP
All Societies affiliated to our Bank
PURPOSE
Purchase of consumer articles
LOAN AMOUNT LIMIT
Based on the IMBP & Reserve Borrowing Power of the Society
RATE OF INTEREST
12.5%
REPAYMENT PERIOD
58 months (according to the provision in the byelaw)
ELIGIBILITY
On the basis of Financial position & Reserve Borrowing Power of the society
90 % of Estimate
GUARANTEE
According .to Byelaw of the society
UPFRONT FEE
10 % of Invoice.
MORATORIUM
Not applicable to this loan
DOCUMENTS TO BE SUBMITTED
1.Prescribed Application Form (Same forms are used for OL,OLM,OLE & HL)
2. Committee Resolution
3.”B Statement” regarding the details of Security offered / Personal Sureties.
4. Copy of Audited Balance Sheet & Latest B/ S, Trading A/C, P & L a/c etc.
5. Copy of Bye Law, Copy of defects pointed out in the Audit Report and measures taken for rectification.
6. Certificates regarding the negative Lien on their fixed Assets.
7. Certificate regarding the Non-Membership in other Credit Co.op Societies.
8. Enclosure Cons/ Socs- I Statement.