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. LOANS TO PENSIONERS Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment        :          Non- EMI  Purpose                             :         Marriage / Domestic / Treatment purpose  Eligibility Criteria               :          Pensioners below the age of 75      Scale of finance                :          Not applicable.  Limit of loan                      :          Up to Rs: 100000.  Margin                               :          Not applicable.  Holiday period                   :          Not applicable.  Repayment period            :          60 months or the period at which the loanee attains the of 75 years whichever is less  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                             :       Personal surety.  This loan is linked with the pension amount, ie, monthly amount should be deducted from the concerned SB account. LOANS TO RETIRED EMPLOYEES Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment      :          EMI  Purpose                             :      For remitting the amount in pension fund Eligibility Criteria               :          Ex-Staff       Scale of finance                :          Not applicable.  Limit of loan                      :          Up to Rs:500000.  Margin                               :          Not applicable.  Holiday period                   :          Not applicable.  Repayment period            :           1)   120 months for the loanees whose age is below 65 years.                                                     2)   For loanees above 65 years 100 months or the period which the loanee attains the age  of 80 years  whichever is earlier.  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                            :          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                             :          Personal / Collateral security. LOANS TO SMALL SCALE  BUSINESSMEN AND TRADERS Type of loan                      :          Short term loan – Non-agriculture.  Method of Repayment      :          Non-EMI  Purpose                             :          Trading Purpose.  Eligibility Criteria               :          Traders / Small businessmen.  Scale of finance                :          Not applicable.  Limit of loan                      :          Up to Rs: 100000  Margin                               :          Not applicable.  Holiday period                   :          Not applicable.  Repayment period            :          36 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                                                       2)   Above 50000 it is @ 0.5%.this Is credited under the head HO Miscellaneous income.                                                       3)   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                             :          Personal / Collateral security.       These types of loans are not issued now.  Insurance of stock in the joint name of bank and the loanee should be submitted. LOAN AGAINST SECURITY OF TERM DEPOSITS Type of loan                      :          Short term loan – Non-agriculture.  Method of Repayment        :          Non-EMI  Purpose                            :          Various purposes.  Eligibility Criteria                :          To individuals and institutions.  Scale of finance                 :          90% of term deposit amount. (In case of                                                      Eduplus deposit it is 85%)  Margin                              :          10% (In case of Eduplus deposit it is 15%)                                       Holiday period                    :          Not applicable.  Repayment period              :          Maturity date of term deposit or three years                                                          Whichever comes first.  Rate of interest                   :          2% above the contract rate of term deposit.  Penal Interest                     :          Not applicable.  Charges                             :          Not applicable.  Subsidy/Re-finance             :          Nil  Security                             :          Term deposit receipt.  If the term deposit is closed within 15 days(ie,minimum period of FD), then the rate of interest of deposit loan will be the prevailing lending rate applicable to Consumption loans.   On maturity date of the deposit the loan should be closed and the balance proceeds should be transferred to suspense account or customer’s operative account according to option given by the customer.  VYAPARAMITHRA LOAN Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment        :          Non-EMI / EMI  Purpose                            :          Trading Purpose.  Eligibility Criteria                :          Traders / Small businessmen.  Scale of finance                  :          Not applicable.  Limit of loan                        :          Up to Rs: 200000.  Margin                                :          Not applicable.                                              Holiday period                      :          Not applicable.  Repayment period                :          36 Months.    Rate of interest                    :          As per interest structure.  Penal Interest                     :          2% for overdue installments. When the loan is fully overdue 2% of additional interest on contract rate is   charged.  Charges                       :          1)   Up to 50000 service charge is collected @ 0.25% of the total Loan amount sanctioned.                                                      Above 50000 it is @ 0.5% and 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                                :          Personal / Collateral security.    Insurance of stock in the joint name of bank and the loanee should be submitted. LOANS TO EMPLOYEES OF AFFILIATED TO SOCIETIES Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment        :          Non-EMI  Purpose                            :          Housing / Vehicle Loan Purpose.  Eligibility Criteria                :          Employees of affiliated Societies  Scale of finance                 :          Not applicable.  Limit of loan                       :          Up to Rs: 500000.  Margin                               :          Not applicable.  Holiday period                    :          Not applicable.  Repayment period              :          60 Months.  Rate of interest                            As per interest structure.  Penal Interest                     :          2% for overdue installments. When the loan is fully overdue 2% of additional interest on contract rate is   charged.  Charges                             :          1)   Up to 50000 service charge is collected @ 0.25%                                                                     of the total Loan amount sanctioned. Above 50000 it is @                                                           0.5% and 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                               :           Personal / Collateral security.   Insurance of stock in the joint name of bank and the loanee should be submitted. LOANS TO SMALL SCALE  BUSINESSMEN AND TRADERS Type of loan                      :          Short term loan – Non-agriculture.  Method of Repayment      :          Non-EMI  Purpose                             :          Trading Purpose.  Eligibility Criteria               :          Traders / Small businessmen.  Scale of finance                :          Not applicable.  Limit of loan                      :          Up to Rs: 100000  Margin                               :          Not applicable.  Holiday period                   :          Not applicable.  Repayment period            :          36 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                                                       2)   Above 50000 it is @ 0.5%.this Is credited under the head HO Miscellaneous income.                                                       3)   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                             :          Personal / Collateral security.       These types of loans are not issued now.  Insurance of stock in the joint name of bank and the loanee should be submitted. LOANS TO INDIVIDUALS FOR ACQUIRING  CONSUMER ARTICLES Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment      :          Non-EMI  Purpose                             :          Purchase of consumer articles.  Eligibility Criteria               :          Individuals.  Scale of finance                :          Not applicable.  Limit of loan                      :          Upto Rs:100000.  Margin                               :          20% of the value of product.  Holiday period                   :          Not applicable. Repayment period            :          60 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                             :          Personal / Collateral security.  These types of loans are not issued now.  Insurance of stock in the joint name of bank and the loanee should be submitted. Hypothecation of stock Subsidy/Re-finance          :          Nil  Security                             :          Personal / Collateral security.      These types of loans are not issued now.  Insurance of stock in the joint name of bank and the loanee should be submitted. VEHICLE LOANS TO INDIVIDUALS Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment      :          Non-EMI  Purpose                             :          Purchase of Vehicles  Eligibility Criteria               :          Individuals.  Scale of finance                :          Not applicable.  Limit of loan                      :          80% of cost of vehicle or up to Rs:1000000 whichever is less.  Margin                               :          20% of cost of vehicle.  Holiday period                   :          Not applicable.  Repayment period            :          60 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                             :          Personal / Collateral security.  Insurance of stock in the joint name of bank and the loanee should be submitted.  Hypothecation of stock LOAN TO INDIVIDUALS FOR COMPUTER & PERIPHERALS Type of loan                      :        Medium term loan – Non-agriculture.  Method of Repayment      :          Non-EMI  Purpose                             :       Purchase of Computers & Peripherals. Eligibility Criteria               :        Individuals Scale of finance                :        Not applicable. Limit of loan                      :        90% of the quotation up to a maximum of Rs:50000.  Margin                               :        10% Holiday period                   :          Not applicable.  Repayment period            :          72 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                             :       Personal / collateral security.  Insurance of stock in the joint name of bank and the loanee should be submitted.  Hypothecation of stock CONSUMPTION LOAN TO HEAD LOAD WORKERS Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment       :          Non-EMI  Purpose                            :          Marriage / Domestic / Treatment purpose .  Eligibility Criteria               :          Individuals (Head load workers).  Scale of finance                :          Not applicable.  Limit of loan                      :          10 times of average salary subject to a maximum of   Rs: 75000  Margin                               :          Not applicable.  Holiday period                   :          Not applicable.  Repayment period            :          60 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                             :       Personal Surety.  Installment amount should be automatically debited from the concerned savings account.  This loan should be categorized under loan to weaker sections. LOANS TO PENSIONERS Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment        :          Non- EMI  Purpose                             :         Marriage / Domestic / Treatment purpose  Eligibility Criteria               :          Pensioners below the age of 75      Scale of finance                :          Not applicable.  Limit of loan                      :          Up to Rs: 100000.  Margin                               :          Not applicable.  Holiday period                   :          Not applicable.  Repayment period            :          60 months or the period at which the loanee attains the of 75 years whichever is less  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                             :       Personal surety.  This loan is linked with the pension amount, ie, monthly amount should be deducted from the concerned SB account. CONSUMPTION LOAN TO INDIVIDUALS Type of loan                      :          Medium term loan – Non-agriculture.  Method of Repayment      :          Non-EMI  Purpose                             :          Marriage / Domestic / Treatment Purpose.  Eligibility Criteria               :          Individuals.  Scale of finance                :          Not applicable.  Limit of loan                      :          Rs: 20 lakh  Margin                               :          Not applicable.  Holiday period                   :          Not applicable.  Repayment period            :          100 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                             :       Personal Surety and Mortgage security.  Note:  Personal surety: Maximum loan amount- Rs: 2 lakh.  Staff members can also avail this loan. In that case maximum amount is one lakh and the rate of interest is 2% below the prevailing rate. Maximum period is 60 months and security is personal surety of another staff. LOAN FOR INDUSTRIAL PURPOSE Type of loan                       :          Long term loan – Non-agriculture. Method of Repayment         :          Non-EMI Purpose                             :          Industrial Purpose (self employment). Eligibility Criteria               :          Individuals  &  Institutions. Scale of finance                :          Not applicable. Limit of loan                      :          According to the project. Margin                               :          Project based Holiday period                   :          6 / 12 months (Interest is to be remitted in holiday period) Repayment period            :          As per project 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          :          Yes. Security                             :          Personal Surety and Mortgage security. Personal surety - Upto one lakh only. Insurance policy in the joint name of bank should be submitted to bank. LOAN FOR CONSTRUCTION OF  SHOPPING COMPLEX Type of loan                      :          Long term loan – Non-agriculture. Method of Repayment      :          Non-EMI Purpose                             :       Construction of shopping / housing complex Eligibility Criteria               :          Individuals, Institutions and companies. Scale of finance                :          Not applicable. Limit of loan                      :          Rs:500 lakh or 2/3rd of estimated cost whichever is less. Margin                               :          1/3rd of estimated cost. Holiday period                   :          Depends on project Repayment period            :          Depends on project 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)   Upto 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          :          Yes. Security                             :          Mortgage security. Insurance policy for the estimate amount should be submitted. Presently the limit is fixed as Rs. 40 lakh as per CMA norms. With the prior approval of NABARD it can be enhanced. Disbursement according to the Debt Equity Ratio. Drawal is permitted on production of utilization certificate from a civil engineer. JOINT LIABILITY GROUPS(JLGS) We provide loans for Joint Liability Groups. Contact your nearest KDCB branch or our credit counselling centre for more details. KUDUMBASREE Kudumbasree Cash Credit to Societies Only Primary Agricultural Co-Operative Credit societies within the district are eligible for this type of loan facility. Limit is sanctioned on the basis of outstanding amount of SHG loans issued to their members. Limit sanctioned for a period of one year. Interest is calculated on daily products basis. Penal interest @ 2% will be charged when the account becomes overdrawn(for the overdrawn amount only) After the expiry of CC limit period 2% additional interest will be charged over the contract rate. Interest debited on last day of every quqrter, i.e. March, June, September and December. Withdrawals are allowed only through cheque book. Purpose: These types of loans are issued for the purpose of issuing SHG loans to their members. The Society has to submit balance sheet, profit and loss account Security: Secured. Coverage statement will be submitted before 5th of every succeeding month. Drawing Power Limit (DPL) is restricted as 90% of coverage. The Society is directed to make all the transactions relating to crop loan through this account only. SELF HELP GROUPS(SHGS) We provide loans for Self  Help Groups directly and also through PACS for own lending to their members and also for various need based projects. Contact your nearest KDCB branch or our credit counselling centre for more details.