Loan Schemes

  • SURETY LOAN

    Surety loan is sanctioned to the extent of Rs. 25,00,000.00/- * with two sureties as co-obligants ‘C’ Class Members surety loan Rs. 1,00,000.00


    Required Documents

    Loan Application and recent passport size photo of applicant & sureties

    Voucher

    3 Men Bond

    Demand Promissory Note

    Form No 49

    Authorization Letter

    No Due Certificate/Liability certificate from Salary Bank

    Salary Certificates of Applicant & Sureties

    Standing Instruction letter to Salary Bank

    Standing Instruction letter to Pay disbursing Authority

    SB a/c statement of 6 months from Salary Bank

    If loan period exceeds 36 months then, Article of agreement and Letter of guarantee (Stamp paper)

    Xerox copy of membership card of applicant & Surety

    Letter of Repayment.

  • EMERGENCY LOAN

    Emergency loan is sanctioned to the extent of Rs. 7,00,000.00 * ( but not exceeding 25,00,000.00) with one surety.
    Nominal Members EMERGENCY LOAN Rs. 1,00,000/


    Required Documents

    Loan Application

    Voucher

    3 Men Bond

    Demand Promissory Note

    Standing Instruction letter to Salary Bank

    Standing Instruction letter to Pay disbursing Authority

    Salary Certificates of Applicant & Sureties

    Authorisation Letter

    If loan period exceeds 36 months then, Article of agreement and Letter of guarantee (Stamp paper)

    Letter of Repayment.

  • JEWEL LOAN

    Loan is sanctioned against the security of gold ornaments For various Purposes.


    Required Documents

    Loan Application

    Voucher

    Demand Promissory Note

    Gold loan Agreement

    Authorization Letter

  • DEPOSIT LOAN

    This loan is sanctioned against Security of Fixed deposit/Recurring Deposit/K.C.C/M.S


    Required Documents

    Loan Application

    Voucher

    Demand Promissory Note

    Deposit Certificate/Pass Book

    For M.S.Deposit-last receipt of cash payment

  • VEHICLE LOAN


    Required Documents

    Loan application, recent passport size photo of applicant and sureties.

    Voucher

    3 Men Bond

    Demand Promissory Note

    Insurance Premium Paid Receipt & Insurance cover note & policy.

    No Due Certificate/Liability certificate from Salary Bank.

    Salary Certificates.

    Standing Instruction letter to Salary Bank

    Standing Instruction letter to Pay disbursing Authority

    Hypothication agreement

    Vehicle Key

    Quotation from authorized dealer.

    Income tax returns-3 years with record of payment to Income tax office.

    Driving license.

    If loan period exceeds 36 months.

    If loan period exceeds 36 months, then Article of agreement, Letter of guarantee (Stamp paper).

    Receipt or certificate of vehicle purchased.

    R.C.Book Xerox (Hypothecation would be noted)

    R.T.O form no.29,30,34,35

  • HOUSING LOAN

    Construction/Purchase of flats.

    Purchase of Ready Built house.

    Construction of House/Repair/Renovation.

    Take-Over of Housing Loan.


    Required Documents Construction/Purchase of flats

    Agreement for Sale of Flat.

    Tripartiate agreement with builder, borrower & banks, builder agreeing for raising loan by the borrower undertaking completion of constructions, to register the property after informing the bank & to refund the amount directly to the bank in case the agreement is cancelled.

    Absolute Sale Deed.

    No-Objection Certificate from Muncipality, Panchayath.

    Non Encumbrance Certificate for 13 years from Sub Registrar (uptodate).

    Latest Tax paid Receipt.

    Khata Extract (R.T.C).

    Approved Plan.

    Sketch of the Flat.

    Legal opinion from Bank’s Advocate in the bank’s prescribed format.

    One member surety.

    Salary Certificate of Applicant and Surety for the 3 months.

    Latest Passport size Photograph.

    Statement of Bank A/c for the last 6 months(Applicant & surety).

    Inspection Report by Manager.

    Income tax returns-3 yrs with record of payment to I.T.office (Applicant and Surety).

    Valuation certificate from the bank’s approved valuer/Engineer.

    Purchase of Ready Built house

    Agreement for Sale of Property.

    Absolute Sale Deed.

    Khata Extract (R.T.C.).

    Latest Tax Paid Receipt.

    Non Encumbrance Certificate for 13 years from Sub Registrar (uptodate).

    Approved Plan from Local Authority.

    Legal Opinion from Bank’s Advocate.

    Valuation Certificate from Bank’s Valuer/ Engineer.

    One member surety.

    Salary Certificate of Applicant and Surety for the 3 months.

    Latest Passport size Photograph.

    Statement of Bank A/c for the last 6 months.

    Inspection report by Manager.

    Construction of House/Repair/Renovation

    Absolute Sale Deed.

    Khata Extract (R.T.C.).

    Non Encumbrance Certificate for 13 years from Sub Registrar (uptodate).

    Estimate of Expenditure on Construction from Architect/ Engineer to be counter signed by the Bank’s panel Engineer/Valuer.

    Approved Plan from Local Authority.

    Legal Opinion from Bank’s Advocate.

    One member surety.

    Salary Certificate of Applicant and Surety for the 3 months.

    Latest Passport size Photograph.

    Statement of Bank A/c for the last 6 months.

    Inspection report by Manager.

    Latest property Tax Paid Receipt.

    Take-Over of Housing Loan

    Outstanding statement.

    Statement of Account from the date of sanction.

    No Objection Letter for delivery of Original Documents to Bank.

    Take Over of “Standard Assets” only/Certificate of Standard Assets.

    A letter to be addressed by the Borrower to the Financial Institution advising them to deliver the documents upon payment by the Bank.

    One member surety.

    Salary Certificate of Applicant and Surety for the 3 months.

    Latest Passport size Photograph.

    Statement of Bank A/c for the last 6 months.

    Inspection report by Manager.

  • MORTGAGE LOAN


    Required Documents

    Loan application, recent photo of applicant & guarantor

    Salary certificate.

    Income tax return statement of applicant guarantor for 3 yrs.

    SB statement of applicant & guarantor for 6 months.

    Legal openion of the immovable property by the bank’s penal advocate in prescribed format enclosing copies of all documents verified & certified by him that he has also verified all original documents wherever required to be available.

    Valuation certificate from bank’s approved valuer/engineer.

    Assets & liability statement of borrowers & guaranters.

    Demand & promissory note.

    3 men bond.

    Form no.49.

    Loan agreement duly stamped as per Stamp Act 1957, & letter of guarantor duly stamped.

    Equitable mortgage by deposit of title deeds of all documents & registration on memorandum of deposits as per the form prescribed by bank’s advocate.

    All other usual authorization standing instruction for recovery of loan.

     Insurance of the property mortgaged renewed every year.

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