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Individual LOAN

New Schemes

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 subject to the terms and conditions of the Bank
Period of Loan One year. Renewable subject to the verification regarding the operation of the account during the previous period and sanction of the board of directors of the Bank
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority  Executive Committee/ Board of Directors of the Bank
Insurance Coverage Insurance coverage as per Kerala Co-operative Risk Fund Scheme if contribution towards Risk fund scheme is remitted on receipt of loan amount.
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
Share linkage Nil
Interest Rate See interest rate table
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 One year. Renewable subject to the satisfaction of operation of the account for the current period  
Interest Rate See interest rate table
Share linkage Nil
Sanctioning Authority Branch Manager subject to the approval of Thaluk Executive Officer
Purpose of Scheme Special scheme to encourage savings habit among students
Eligibility Minor of any age. Account will be opened with the parent/guardian
Minimum Balance No minimum balance required
Mode of Operation jointly with parent/ Guardian or singly by parent/ Guardian
KYC Requirement Date of birth proof of minor + KYC of parent
Cheque book facility Available .
withdrawal limit per day Rs.5000/-
ATM cum Debit Card facility Available subject to withdrawal limit of Rs.5000/-
Other features

a) interest @4.00% p.a on daily balance

b) Option for setting up of standing instrutction for Recurring Deposit available for free of charge.

c) Option for Setting up of standing instruction for school tuition fee by DD / RTGS - free of charge subject to once in a month

d) Transferablity of funds to accounts with any any ADCB branch for free of charge

e) Nomination facility available

f) Transfers from parent account to child account will be free of charge

g) mobile banking facily available as and when bank implements it

h) Amounts above 10000/- can be moved as term deposit for free of charge

Migration of Account on minor attaining age of Majority

Guardian's right to operate account ceases on minor attaining age of majority and fresh KYC documents are to be produced by the persons to continue operation in the account.

Purpose of Scheme Special scheme to encourage savings habit among students
Eligibility Minor's above the age of 10 years and who can sign uniformly may open independent accounts
Minimum Balance No minimum balance required
Mode of Operation singly operated
KYC Requirement Date of birth proof of minor + KYC of parent
Cheque book facility Available .
withdrawal limit per day Rs.5000/-
ATM cum Debit Card facility Available subject to withdrawal limit of Rs.5000/-
Other features

a) interest @4.00% p.a on daily balance

b) Option for setting up of standing instrutction for Recurring Deposit available for free of charge.

c) Option for Setting up of standing instruction for school tuition fee by DD / RTGS - free of charge subject to once in a month

d) Transferablity of funds to accounts with any any ADCB branch for free of charge

e) Nomination facility available

f) Transfers from parent account to child account will be free of charge

g) mobile banking facily available as and when bank implements it

h) Amounts above 10000/- can be moved as term deposit for free of charge

Migration of Account on minor attaining age of Majority

Guardian's right to operate account ceases on minor attaining age of majority and fresh KYC documents are to be produced afresh by the persons to continue operation in the account.

Purpose of Scheme Special scheme to encourage savings habit among students and to make them to achieve their personal goals in future.
Eligibility 1) Minor of any age. jointly opened with parent/ guardian
Amount of Deposit Minimum instalment of Rs.500/- month. No ceiling on Maximum Amount
Period of Deposit 12,24,36,48,60,96,120 months
Mode of Operation jointly with parent/ guardian or singly by parent/ guardian
KYC Requirement Date of birth proof of minor + KYC of parent
Rate of Interest As applicable to term deposits as fixed by the board of directors of the bank from time to time
Loan/ overdraft facility Upto 90% of available balance
Premature withdrwal Available Subject to the terms and conditions applicable to  term deposits
Migration of Account on minor attaining age of Majority

Guardian's right to operate account ceases on minor attaining age of majority and fresh KYC documents are to be produced afresh by the persons to continue operation in the account.