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Individual LOAN

Individual LOAN

  • Loan applicant must be a permanent resident of Alappuzha District 
  • Applicant must be a Customer of the Bank.i.e.SB Account Holder.
  • Minimum 5 cents of property should be given as security
  • Loan must be closed before attaining the age limit fixed by the Bank.(At Present it is 70 Years)
  • Security shall be applicants own property or other property within Alappuzha District which can be pledged as security.
  • Free Road Access to the security property is inevitable.
  • Sanctionable amount of loan is fixed on the basis of value of security pledged and repayment capacity of the applicant
  • Applicant should submit all documents as directed by branch manager or Head Office on scrutiny of loan.
  • 1% Share linkage must be remitted on the sanctioned amount.
  • Processing charge and legal fee as fixed by Board of Directors of the bank from time to time must be remitted on sanctioned amount
  • Risk fund contribution as fixed by Kerala Co-operative Development and Welfare Fund Board from time to time shall be remitted to avail the benefit of insurance cover under Kerala Co-operative Risk Fund Scheme.
  • Submission of application is not an offer for sanctioning of loan. Sanctioning of loan and amount of loan sanctioned shall be at the complete discretion of the Bank
  • Period of Loan may vary  as per loan scheme or on borrower attaining 70 years of age whichever is earlier.
Purpose of loan Any Purpose for which special loan schemes are not introduced by bank
Quantum of Loan Maximum 15 Lakhs subject to the conditions of the bank
Security Collateral Security subject to the terms and conditions of the Bank
Period of Loan Upto 120 months subject to the quantum of loan sanctioned
Interest Rate See interest rate table
Share linkage 1% of loan Amount
Sanctioning Authority General Manager/ Executive Committee/ Board of Directors subject to the quantum of loan
Insurance Coverage Insurance coverage as per Kerala Co-operative Risk Fund Scheme applicable if Risk fund contribution is remitted on acceptance of loan amount
Purpose of loan Any Purpose for which special loan schemes are not introduced by bank
Quantum of Loan Maximum 3 Lakhs subject to the conditions of the bank
Security Salary certificate as prescribed by the bank
Period of Loan Upto 100 months subject to the quantum of loan sanctioned
Share linkage 1% of loan Amount
Interest Rate See interest rate table
Sanctioning Authority Branch Manager subject to the approval of Thaluk Executive Officer
Insurance Coverage Insurance coverage as per Kerala Co-operative Risk Fund Scheme applicable if Risk fund contribution is remitted on acceptance of loan amount
Purpose of loan For construction of House/ Repair & Renovation of Existing house/ Purchase of Land  and residential building
Quantum of Loan
  • Construction – 75% of estimate or Rs.25 Lakhs  whichever is less
  • Repair & Renewals – 75% of estimate or 15Lakhs  whichever is less
  • Renovation  - 75% of estimate or 10Lakhs  whichever is less
  • Purchase of land with house – 75% of agreement price or Rs.25 Lakhs     which ever is less
(All are subject to the repayment capacity of the  borrower and satisfaction of other conditions of the Bank)
Security Collateral security
Period of Loan 20years or attaining of 70 years of age of borrower which ever is earlier
Interest Rate See interest rate table
Share linkage 1% of loan Amount
Sanctioning Authority General Manager/Executive Committee /Board of Directors of the Bank subject to the quantum of loan
Insurance Coverage Insurance coverage as per Kerala Co-operative Risk Fund Scheme applicable if Risk fund contribution is remitted on acceptance of loan amount
Purpose of loan Purchase of land ( except agricultural land)
Quantum of Loan Maximum 25 Lakhs subject to the conditions of the bank
Security Collateral security
Period of Loan Upto 15 years attaining of 70 years of age of borrower whichever is earlier
Interest Rate See interest rate table
Share linkage 1% of loan Amount
Sanctioning Authority Executive Committee or Board of Directors of the Bank
Insurance Coverage Insurance coverage as per Kerala Co-operative Risk Fund Scheme applicable if Risk fund contribution is remitted on acceptance of loan amount
Purpose of loan Any Purpose for which special loan schemes are not introduced by bank
Quantum of Loan Maximum 10 Lakhs subject to the conditions of the bank
Security Collateral security
Period of Loan
  • One year.
Renewable after the elapse of one year subject to the approval of the Board of directors of the Bank and verification of operation of previous period
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Executive Committee or Board of Directors of the Bank
Insurance Coverage Insurance coverage as per Kerala Co-operative Risk Fund Scheme applicable if Risk fund contribution is remitted on acceptance of loan amount
Purpose of loan Any Purpose 
Quantum of Loan Maximum 25Lakhs subject to the conditions of the bank
Security Gold ornaments ( Gold coins not acceptable
Period of Loan Six Months or One year
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Branch Manager
Purpose of loan Agriculture purpose only
Quantum of Loan Maximum 2 Lakhs subject to the conditions of the bank
Security Gold ornaments ( Gold coins not acceptable)
Period of Loan Six months
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Branch Manager
Purpose of loan Any purpose 
Quantum of Loan Maximum 25 Lakhs subject to the conditions of the bank
Security Gold ornaments ( Gold coins not acceptable)
Period of Loan Six months
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Branch Manager
Purpose of loan Any purpose 
Quantum of Loan Maximum 25 Lakhs subject to the conditions of the bank
Security Gold ornaments ( Gold coins not acceptable)
Period of Loan One year. Renewable subject to reviewing the operation of the account
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Branch Manager subject to the approval of Thaluk executive officer
Purpose of loan Any purpose 
Quantum of Loan Maximum 25 Lakhs subject to the conditions of the bank
Security Gold ornaments ( Gold coins not acceptable)
Period of Loan Upto 10 year
Repayment Monthly
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Branch Manager subject to the approval of Thaluk executive officer
Purpose of loan Construction of Shopping Complex /Auditorium,  Building for Educational institutions.
Quantum of Loan Maximum 25 Lakhs subject to the conditions of the bank
Security Collateral security
Period of Loan Upto 10 Year
Interest Rate See interest rate table
Share linkage Yes. varies with the quantum of loan
Sanctioning Authority Board of Directors / Executive Committee
Insurance Coverage Insurance Coverage as per Kerala Co-operative Risk fund Scheme, if contribution is remitted on receipt of loan amount .
Purpose of loan Any feasible and viable projects submitted by the groups.
Quantum of Loan Maximum Rs.50000/- per member subject to the conditions of the Bank
Security On the basis of intersay agreement and pronote
Period of Loan Upto 36 months
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Board of Directors / Executive Committee/ General Manager subject to the quantum of loan
Insurance Coverage Insurance Coverage as per Kerala Co-operative Risk fund Scheme, if contribution is remitted on receipt of loan amount .
Purpose of loan Purchase of New/ old vehicles subject to the conditions of the Bank
Quantum of Loan Maximum 10Lakhs subject to the conditions of the bank
Security Hypothecation of vehicle plus collateral security or Government employee as surety
Period of Loan Upto 36 months
Interest Rate See interest rate table
Share linkage yes. subject to the quantum of loan
Sanctioning Authority Board of Directors / Executive Committee
Insurance Coverage Insurance Coverage as per Kerala Co-operative Risk fund Scheme, if contribution is remitted on receipt of loan amount .
Purpose of loan Industrial Purpose
Quantum of Loan Maximum 25 Lakhs subject to the conditions of the bank
Security Hypothecation of Machines plus Collateral security
Period of Loan Upto 84 months
Interest Rate See interest rate table
Share linkage Yes. varies with the quantum of loan
Sanctioning Authority Board of Directors / Executive Committee
Insurance Coverage Insurance Coverage as per Kerala Co-operative Risk fund Scheme, if contribution is remitted on receipt of loan amount .
Purpose of loan Higher education.
Quantum of Loan Maximum 10Lakhs subject to the conditions of the bank
Security Upto 2 Lakhs - No security , Above 2Lakhs - Collateral security
Period of Loan Upto 36 months
Repayment Repayment of interest - From the next month of loan issue. Repayment of Principal - After One year from the date of completion of the course or six months from the date of joining employment which ever is earlier.
Interest Rate See interest rate table
Share linkage Yes. varies with the quantum of loan
Sanctioning Authority Board of Directors / Executive Committee
Insurance Coverage Insurance Coverage as per Kerala Co-operative Risk fund Scheme, if contribution is remitted on receipt of loan amount .
Purpose of loan Development of Business on thebasis of project submitted                              
Quantum of Loan Maximum 25 Lakhs subject to the conditions of the bank
Security Collateral security/ stock of the concern
Period of Loan One year. Renewable subject to reviewing the operation of the account
Interest Rate See interest rate table
Share linkage yes. subject to the quantum of loan
Sanctioning Authority Board of Directors/ Executive Committee of the bank 

 

Purpose of loan Any purpose 
Quantum of Loan 85% of deposit amount
Security Fixed deposit with ADCB 
Period of Loan till the maturity of fixed deposit
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Branch Manager      

Various other types of loans are offered by the bank to satisfy the specified needs of customers.