Savings Bank Account, Current Account , Fixed Deposit , Reccuring Account , Balamithra, Balanidhi,Balasabha, Edu plus SAVINGS BANK ACCOUNT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Savings bank Accounts are of 2 types
Distinction between the two types of accounts:
Opening of savings bank Accounts Savings Bank Accounts are ordinarily opened only in the names of individuals singly or jointly with other individuals. Requests for opening accounts other than in the names of individuals should be referred to the Branch Manager .Preliminaries Persons desiring to open Savings Bank accounts are required to fill in and sign the prescribed Account opening form duly introduced by a person acceptable to the Bank. Following credentials are required to append with the application:-
Initial Deposit and Minimum Balance:
Initial deposit for opening a Current Account is Rs.1000.00. The said amount should be retained as minimum balance in the account.
Initial deposit for opening a SB Account is Rs.300.00 and there should be a minimum balance of Rs.1000.00 where cheque book facility is made available.
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KDC BANK SERVICE സേവനങ്ങള്
Business Marketing & Public Relations Department, Kozhikode District Co-operative Bank Ltd.No.F.1635, Head Office, P.B.No.503, Kallai Road, Chalappuram.P.O, Kozhikode District, Pin -673 002, Kerala State, INDIA..... Email: kdcbankprd@gmail.com, mail@kdcbank.com, kdcbank@gmail.com, Website : www.kdcbank.com , Blog : www.kdcbank.blogspot.in, Phone: 0495 2705439
Sunday, December 16, 2012
DEPOSITS
Savings Bank Account, Current Account , Fixed Deposit , Reccuring Account , Balamithra, Balanidhi,Balasabha, Edu plus SAVINGS BANK ACCOUNT |
LOANS AND ADVANCES - INDIVIDUAL
HOUSING LOAN | ||||||||||||||||||||||||||||||||||||||||||||||
Type of loan : Long term loan – Non-agriculture.
Method of Repayment : Non- EMI
Purpose : Construction/ repair / outright purchase of houses
Eligibility Criteria : Individuals.
Scale of finance : Not applicable.
Limit of loan : Rs:20 lakh or 80% of estimated cost whichever is less.
Margin : 20%
Mode of sanction : 1) 3 installments for new house (20%, 50% and 30% of sanctioned amount.)
2) 2 installments for repair (50% each)
3) Single installment for outright purchase.
Holiday period : 1) 12 months for construction of new house
2) 6 months for repair of existing house
3) No holiday period for outright purchase.
Repayment period : 180 Months.
Rate of interest : As per interest structure.
Penal Interest : 2% for overdue installments. When the loan becomes fully overdue 2% of additional interest on contract rate is charged.
Charges : 1) Up to 50000 service charge is collected @ 0.25% of total Loan amount sanctioned. Above 50000 it is @ 0.5%.this is credited under the head HO miscellaneous income.
2) Risk fund @ 0.25% of loan amount is collected from the loanee with a minimum of Rs: 50 and a maximum of Rs:375. Risk fund collected is kept under Suspense Liability and once in a month transferred to HO.
Subsidy/Re-finance : Nil
Security : Mortgage security.
Insurance policy for estimate amount for 15 years should be submitted.
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