Additional House L
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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
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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
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
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