LOANGRAHA

INDIAN BANK- LOAN/OD AGAINST DEPOSITS

2009-12-20T02:02:00.000-08:00

Salient Features: For any bankable purpose.

Eligibility: Term Deposit Holder of our Bank.

Quantum of Loan: 90% of accrued value of deposit.

Margin: 10% on accrued value of deposit.

Repayment Period: * Flexible.
* Maximum upto date of maturity of deposit.

Prepayment charges:Interest Rate: 2% over the applicable rate for the Term Deposit pledged.

Security:Pledge of Term Deposit.

* BPLR = 12.00 %

This information about the loan is gathered from the bank's web site.

INDIAN BANK- VEHICLE LOAN

2009-12-07T21:05:00.000-08:00

Salient Features:

For purchase of New Two Wheeler or New / Used Four Wheeler(Used four wheeler should not be more than 3 years and should be certified by reputed automobile engineer / valuer)

Eligibility:

* Salaried Class with minimum service of three years.
* Businessmen, Professionals and Self-employed with minimum experience of three years.
* Pensioners with repayment capacity.
* Minimum Gross monthly income for purchase of Four wheeler should be Rs.20,000/-.

Quantum of Loan:

* 20 times of Gross Monthly Income Spouse Income can be included for calculating eligible amount if he / she has steady income.
* Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions.
* For Businessmen, Professionals & self-employed, based on their average income earned in the last 3 years and capacity / ability to repay the loan.
* Maximum Loan amount for purchase of Two Wheeler : Rs.50,000/-.
* Four Wheeler: Rs. 15,00,000/-"

Margin: * 10% for New Vehicle.
* 40% for used vehicle (Four wheeler).

Processing fee: 0.30% of loan with a minimum of Rs. 300/-

Repayment Period: Not exceeding 60 EMIs (No Holiday Period).

Security:

* Hypothecation of Vehicle to be purchased out of Loan.
* If the loan amount exceeds Rs. 7.50 lakhs, additional security equivalent to amount exceeding Rs. 7.50 lakhs to be provided in the form of Fixed Deposit Receipts / NSCs / LIC Policy (with surrender value equivalent to the security to be provided) / Mortgage of immovable property.

Documents to be submitted for processing the application:

1. Completed Application Form with passport size photograph.
2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID.
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate.
7. Proof of other income like rent, interest on investment, if any.
8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years.
10. Copy of Driving Licence.
11. Quotation for Vehicle to be purchased from the authorized dealer.

INDIAN BANK - PLOT LOAN

2009-11-24T01:25:00.000-08:00

Salient Features:

For purchase of House Site on ownership basis; House site should be located in layout approved by Government authority approved by Government Authority.

Eligibility:

* Maximum permissible age at the time of applying is 50 years & at the end of repayment period is 60 years.
* Salaried Class with minimum service of three years.
* Businessmen, Professionals and Self-employed with minimum experience of three years.
* Pensioners with repayment capacity.

Quantum of Loan:

* 30 times of Gross Monthly Income; Maximum Loan amount : Rs. 10 lakhs.
* Spouse Income can be included for calculating eligible amount if he / she has steady income.
* Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions.

Margin: 33% on Land cost.

Processing fee: 1.15 % on Loan amount.

Interest Rates: Please see the Interest Rate link on home page.

Repayment Period: Not exceeding 120 EMIs (No Holiday Period)

Prepayment charges:

* No pre-closure charges, if loan is closed out of own funds.
* 2% on Balance outstanding or applicable Drawing Limit whichever is higher, if loan is closed by way of take over by another Bank / Financial Institution.

Security:

* Equitable Mortgage of Property purchased out of loan proceeds.
* Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located.

Documents to be submitted for processing the application:

1. Completed Application Form with passport size photograph.
2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID.
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate.
7. Proof of other income like rent, interest on investment, if any.
8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years.
10. Agreement of Sale.
11. Lay out approval.
12. Title Deed Documents for 30 years.
13. Proof of title in the Revenue Records.(Legal Opinion from Advocate & Valuation of property from Engineer will be arranged by Bank at applicant’s cost.)

Value added:

Group Insurance cover (IB Griha Jeevan):
* At the option of the applicant, Group Insurance Life Cover is arranged (at present through L I C) at concessional premium (to be borne by the Applicant).
* The Applicant may opt for including the premium amount as part of Plot Loan.

This information is gathered from the bank's web site.

INDIAN BANK-RENTENCASH

2009-11-16T21:08:00.000-08:00

Target Group:

Residential / Commercial building owners (individuals/ joint owners/ trusts/ societies/ corporates/ firms or any other entity*) who have / who propose to let their buildings to top notch Corporates / Public Sector Undertakings / State / Central Government Offices.

Purpose:

Any purpose including repairs, renovation of buildings, marriage, education, household festivals, medical, or any bankable purpose.

Quantum of Loan:

Maximum of 84 months' rent or rental value for the unexpired period (advance received from the tenant to be deducted to arrive at the loan amount) subject to a maximum of 60 % of the market value of property.

Maximum Loan:

Rs.100 lakhs

Repayment:

* Maximum of 84 months in EMI
* No holiday period.
* Repayment to commence from the month immediately following the month of loan availment.

Rate of Interest w.e.f 01.07.2009:

13.50% floating

Margin:

40% on net rent receivables.

Service charges:

1.15% on loan amount.

Security:

# Future Rent receivable during the loan period
# EM of free hold Property which is leased for monthly rentals.- EM by the owner only – EM by P.A. holder not permitted except where owners are impersonal entities.
# In places like Mumbai a negative lien in favour of the bank with necessary advice to the concerned society, as per the prevalent practice/procedure, where negative lien is applicable.
# Leasehold property on perpetual lease.
# Leasehold properties where the lessor is Govt./reputed body

Overdue Instalments :

If any installment becomes overdue a penalty of 2% p.a. on the overdue amount will be levied. If three EMIs are overdue the entire loan balance shall be recalled.

Important guidelines and other terms and conditions:

1. Property should be free-hold. Agricultural properties not considered for this purpose.
2. Properties in socially vulnerable pockets / properties which are difficult to access in case of need to liquidate etc., not acceptable.
3. The borrower should agree to honour the monthly repayment commitments, in case, for any reason, rent is not being paid/remitted by tenant to the bank.
4. Tenancy act provisions will be taken into account. In case of properties under rent control the loan assessment will be based on the rent control value only
5. Up to date tax dues on account of Municipal / Local authorities taxes, water taxes, sewerage, developmental tax etc., should have been paid by the property owner and relative receipts to be submitted along with the documents. No dispute shall persist on account of governmental dues. Till the pendency of loan, the periodical taxes on account of Municipalities, Corporations, etc., should be paid and the relevant receipts should be submitted by the borrower on time.
6. During the pendency of loan, if the borrower wants to sell the property, the loan should be adjusted out of the sale proceeds and release of documents shall be made only after adjustment of loan.
7. Tripartite agreements between the tenant/property owner and the Bank to be entered into or Power of Attorney from the property owner to collect the rent directly from the tenants.
8. Acceptance from the tenants to directly pay the rent to the Bank.

*Trusts, Societies, Corporates, etc., should have proper authority to borrow / charge the assets as authorized by their bye-laws / trust deeds etc.,

Property must be located in Urban / Metropolitan areas.

Indian Bank-NRI Home Loan

2009-11-06T02:50:00.000-08:00

Salient Features:

For purchase or construction of a house / flat / repair / renovate or alter an existing house / flat.

Eligibility:

Maximum permissible age at the time of applying is 50 years & at the end of repayment period is 60 years.
* NRIs gainfully employed with a residual contract period / service of atleast 3 years.
* NRI professionals with regular monthly income.

Quantum of Loan:

* 36 times of Gross Monthly Income or 60 times of Net Monthly Income whichever is higher.
* Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions.

Margin:

* Loan for construction / purchase of a new house / flat: For Loans upto Rs. 20 lakhs : 20% & for loans above Rs. 20 lakhs : 25%.
* Loan for purchase of old house / flat: 30% (for all loan amounts)

Processing fee:

* 0.25 % on Loan amount (Non refundable) (to be remitted at the time of submission of application)
* 0.32 % on Loan amount (at the time of acceptance of sanction).

Interest Rates:

Please see the Interest Rate link on home page.

Repayment Period:

* Loans for purchase / construction of House / Flat : 15 years (including holiday period) for floating rate loans.
* (NRI Home Loans are offered on Floating Rates only.)
* Maximum Holiday Period of 18 months allowed for Home Loans for the purpose of construction of House / Flat.

Prepayment charges:

* No pre-closure charges, if loan is closed out of own funds.
* 2% on Balance outstanding or applicable Drawing Limit whichever is higher, if loan is closed by way of take over by another Bank / Financial Institution.

Security:

* Equitable Mortgage of Property purchased / constructed out of loan proceeds.
* Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located.

Documents to be submitted for processing the application:

1. Completed Application Form with passport size photograph.
2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID.
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate.
7. Proof of other income like rent, interest on investment, if any.
8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years.
10. Agreement of Sale / Sale Deed.
11. Approved Building Plan.
12. Title Deed Documents for 30 years.
13. Proof of title in the Revenue Records.(Legal Opinion from Advocate & Valuation of property from Engineer will be arranged by Bank at applicant’s cost).

Value added:

* Group Insurance cover (IB Griha Jeevan):
* At the option of the applicant, Group Insurance Life Cover is arranged (at present through L I C) at concessional premium (to be borne by the Applicant).
* The Applicant may opt for including the premium amount as part of Home Loan Project Cost.

Insurance:

* Property (offered as security) to be insured at borrower’s cost with Bank clause against fire, flood, earthquake, riot and other risks, which are normally covered by insurance companies.

Information courtesy: Indian Bank web site.

INDIAN BANK

2009-10-25T22:17:00.000-07:00

Home Loan

Salient Features:

For purchase or to construct a house / flat / renovate / repair or alter an existing house / flat.

Eligibility:

* Maximum permissible age at the time of applying is 50 years & at the end of repayment period is 60 years.
* Salaried Class with minimum service of three years.
* Businessmen, Professionals and Self-employed with minimum experience of three years.
* Pensioners with repayment capacity.

Quantum of Loan:

* 36 times of Gross Monthly Income or 60 times of Net Monthly Income whichever is higher.
* Spouse Income can be included for calculating eligible amount if he / she has steady income.
* (Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions.)

Margin:

Loan for construction / purchase of a new house / flat:
* For Loans upto Rs. 20 lakhs : 20% & for loans above Rs. 20 lakhs : 25%
* Loan for purchase of old house / flat: 30% (for all loan amounts)

Repayment Period:

* Loans for purchase / construction of House / Flat : 20 years (including holiday period) for floating rate loans and 10 years (including holiday period) for fixed rate loans.
* Maximum Holiday Period of 18 months allowed for Home Loans for the purpose of construction of House / Flat.

Security:

* Equitable Mortgage of Property purchased / constructed out of loan proceeds
* {Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located }

Processing fee:

* 0.25 % on Loan amount (Non refundable) (to be remitted at the time of submission of application)
* 0.32 % on Loan amount (at the time of acceptance of sanction)

Prepayment charges:

* No pre-closure charges, if loan is closed out of own funds.
* 2% on Balance outstanding or applicable Drawing Limit whichever is higher, if loan is closed by way of take over by another Bank / Financial Institution.

Documents to be submitted for processing the application:

1. Completed Application Form with passport size photograph.
2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate.
7. Proof of other income like rent, interest on investment, if any.
8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
10. Agreement of Sale / Sale Deed.
11. Approved Building Plan.
12. Title Deed Documents for 30 years.
13. Proof of title in the Revenue Records.(Legal Opinion from Advocate & Valuation of property from Engineer will be arranged by Bank at applicant’s cost)

Value added:

Group Insurance cover (IB Griha Jeevan):
* At the option of the applicant, Group Insurance Life Cover is arranged (at present through L I C) at concessional premium (to be borne by the Applicant).
* The Applicant may opt for including the premium amount as part of Home Loan Project Cost.

Insurance:

Property (offered as security) to be insured at borrower’s cost with Bank clause against fire, flood, earthquake, riot and other risks, which are normally covered by insurance companies.

Interest Rates:

Please see the Interest Rate link on home page.

This information is read from the bank's web site and posted for the use of consumers.

DENA BANK- RENT SCHEME

2009-10-19T22:12:00.000-07:00

Dena Rent Scheme (Finance against Rent receivables)

Good news for Landlords

Now, landlords can make their property earn more money by availing Dena Rent Scheme against their rent receivable.

You are eligible if:

· You are a landlord- an individual, corporate, trust or anybody who has given their property on rent to banks, FIs, PSUs or reputed companies.

Loan Amount:

· Minimum- Rs. 1 lakh

· Upto- Rs. 200 lakhs

Margin: 25%

Rate of Interest:

Please Check out the Interest Rates Section to find latest Interest Rates applicable

INTEREST CHARGED ON DAILY REDUCING BALANCE

NO PREPAYMENT CHARGES

Security:

Equitable mortgage of property.

Process Fees: 0.50%

Repayment: Up to 60 months

This loan information is read and published from the bank's web site.

Dena Bank - Senior Citizen Pensioners’ Loan Scheme

2009-10-11T08:14:00.000-07:00

Life begins after retirement

You are eligible if:

· You are a pensioner of the State Govt., Central Govt. or PSU.

· You are an ex-staff member with a pension account.

· Loan recovery period is not extending beyond 75 years of age.

· Your take home pension is not less than 60% of your monthly pension after deduction of the loan installment.

Loan Amount:

Up to 6 months pension or rs.50,000/-, whichever is less.

Margin:

NIL

Rate of Interest:

INTEREST CHARGED ON DAILY REDUCING BALANCE

NO PREPAYMENT CHARGES

Security:

NIL

Process Fees:

NIL

Repayment:

Up to 24 EMIs

Guarantee:

Simple! Spouse or nominee appointed for the pension account or any other family member or third party acceptable to the bank can guarantee the account.

This useful information is taken from the bank's web site.

Photo Courtesy: Dena Bank

பாரத Matrimony

2009-10-04T03:30:00.000-07:00

DENA BANK-MORTGAGE LOAN SCHEME

2009-09-26T08:30:00.000-07:00

Make your idle property work for you

If you have free hold, un-encumbered, non-agricultural property, residential or commercial- you can fulfill all your needs with Dena Mortgage Loan. Be it to finance a marriage, higher education, a foreign trip or medical treatment.

You are eligible if:

You are 21 years of age.

· You are a salaried individual, professional, self-employed, agriculturist.

· You are an income tax assessee for at least 2 years.

· Your net monthly income is at least Rs. 12,000/-. Income of spouse (co-applicant) can be clubbed for enhanced eligibility.

Loan Amount:

· Minimum- Rs. 2 lakhs

· Upto- Rs. 100 lakhs

Margin:

50%

Rate of Interest:

Please Check out the Interest Rates Section to find latest Interest Rates applicable.

INTEREST CHARGED ON DAILY REDUCING BALANCE

Security:

Equitable mortgage of the property.

Process Fees:

1% of the sanctioned limit

Repayment:

Up to 120 EMIs.

The loan information is gathered from the bank's web site.

Photo Courtesy: Dena Bank.

DENA BANK- TRADE FINANCE SCHEME

2009-09-20T07:44:00.000-07:00

You are eligible if:

· You are a commodity trader, stockist or dealer registered under sales tax.

· You are a permanent resident of the city.

Loan Amount:

· Minimum- Rs. 2.50 lakhs

· Upto- Rs. 25 lakhs

· Upto 20 % of your projected turnover.

In case of disruption of the working capital cycle, 40 % of collateral security can be included to calculate Drawing Power.

Nature of Loan:

Cash Credit (hypothecation)

Margin:

25% stock, 50% of book debts.

Rate of Interest:

INTEREST CHARGED ON DAILY REDUCING BALANCE

NO PREPAYMENT CHARGES

Security:

*
Hypothecation of stock and book debts.
*
Equitable mortgage of immovable property or any other liquid assets with market value of 100% sanctioned limit as collateral.

Process Fees:

1% of the sanctioned loan amount.

Repayment:

Revolving limit to be operated as per DP/ Sanctioned Limit.

This information of loan is gathered from the bank's web site.

Photo courtesy: Dena Bank.

DENA BANK CONSUMER DURABLE LOAN

2009-09-08T03:04:00.000-07:00

Dena Consumer Durable Loan

Move up in life with Dena Consumer Durable Loan

Now , it's so easy to improve your lifestyles. And turn your home into a smart, modern one with all the conveniences you can imagine. Be it a Laptop, Washing Machine, Microwave, Fridge, TV, DVD Player, Music System, AC, Modern Furniture, Cooking Range, PC, Fitness Equipment or even a Mobile Handset. Just take a Dena Consumer Durable Loan and move up in life.

You are eligible if:

You have sufficient repayment capacity. Also, your spouse's income can be clubbed to enhance your eligibility.

Loan Amount: Up to Rs. 1 lakh

Margin: 20%

Rate of Interest

Please Check out the Interest Rates Section to find latest Interest Rates applicable.

INTEREST CHARGED ON DAILY REDUCING BALANCE
NO PREPAYMENT CHARGES

Repayment: Up to 36 EMIs.

Mode of Disbursement:Payment will be released to the dealer against proforma invoice.

Security:Hypothecation of consumer durables purchased.

Process Fees

* Up to Rs. 25,000/- - Rs.250/-
* Above Rs. 25,000/- - Rs.500/-

This useful information is read and produced from the bank's web site, for the use of customers of the bank.

Photo Courtesy: Dena Bank

DENA BANK- AUTO FINANCE SCHEME

2009-08-16T22:52:00.000-07:00

Dena Auto Finance Scheme

Take the smooth road to own your Dream Machine

Get on the right track with Dena Auto Loan and drive home your home machine.

YOU ARE ELIGIBLE IF:

You have a gross income of more than Rs. 75,000 p.a. For a two wheeler and a gross income of more than Rs. 1.50 lakhs p.a. for a car.

LOAN AMOUNT

Up to Rs. 50,000/- for purchase of a new two wheeler.

· Up to Rs. 8 lakhs for purchase of a new car.

MARGIN

20%

RATE OF INTEREST

Please Check out the Interest Rates Section to find latest Interest Rates applicable.

INTEREST CHARGED ON DAILY REDUCING BALANCE

NO PREPAYMENT CHARGES

SECURITY

Hypothecation of the vehicle purchased.

MODE OF DISBURSEMENT

Loan disbursed directly to the authorized dealer.

PROCESS FEES

· Two wheeler- Rs. 250/-

· Four wheelers- Rs. 500/-

REPAYMENT

Up to 60 EMIs.

This information is gathered from the bank's web site.

DENA BANK- PERSONAL LOAN

2009-08-16T22:40:00.000-07:00

Dena Suvidha (Personal Loan) Scheme

LIVE YOUR DREAMS

Dena Suvidha is the ideal way to fulfill personal needs of your family. Be it to finance a marriage or family function. To travel or celebrates a festival. For medical treatment or educational purposes. Or simply a vacation. Even an unforeseen event. Dena Suvidha (Personal) Loan is always there for all your needs.

YOU ARE ELIGIBLE IF:

You are a permanent employee between 24 to 55 years having worked for at least 2 years in a Govt. or PSU/ reputed organization.

· You have a gross monthly income of at least Rs. 5,000/-. Income of any other earning member ( co-applicants) can be clubbed for enhanced eligibility.

· You can have a salary disbursement arrangement with us or provide an undertaking form your employer.

LOAN AMOUNT

· Minimum- Rs. 15,000/-

· Up to- Rs. 1 lakh or 9 times the net monthly income whichever is less.

MARGIN

NIL

RATE OF INTEREST

Please Check out the Interest Rates Section to find latest Interest Rates applicable.

INTEREST CHARGED ON DAILY REDUCING BALANCE

NO PREPAYMENT CHARGES

PROCESS FEES

1% of loan amount

REPAYMENT

Up to 36 EMIs

MODE OF DISBURSEMENT

By credit to your Savings Bank account.

This information is taken from the bank's web site.

DENA BANK- EDUCATIONAL LOAN

2009-08-02T06:25:00.000-07:00

Dena Vidya Laxmi Educational Loan Scheme

The Topper for your children’s Higher Education

Ensure a bright future for your children. Provide them with the best of higher education in India or abroad. Avail Dena Vidya Laxmi Educational Loan.

You are eligible if:

You are an Indian national and have secured admission to a professional or technical course in an Indian or Foreign university.

· Simply walk in with the marksheet of the qualifying exam. and proof of admission.

Course Eligibility

Study in India:

Graduation courses, Post-Graduation courses, Masters & PhD, Professional courses.

Study Abroad:

Graduation for professional/ technical courses offered by reputed universities; Post Graduation (MCA, MBA, MS)

Loan Amount:

Up to Rs.10 lakhs for studies in India.

· Up to- Rs. 20 lakhs for studies abroad.

Loan takes care of :

*
Fee payable to colleges/ schools/ hostels
*
Examination/ Library/ Laboratory fees.
*
Purchase of books, equipment, instruments and uniforms.
*
Passage fare for travel abroad.
*
Purchase of computers needed to complete the course.
*
Any other expense to complete the course like study tours, project work, thesis etc.

Margin

· Upto Rs. 4 lakhs- NIL for study in India and abroad.

· Above Rs. 4 lakhs- 5% for study in India and 15% for study abroad.

Rate of Interest

Please Check out the Interest Rates Section to find latest Interest Rates applicable

1% INTEREST CONCESSION IF INTEREST SERVICED DURING THE STUDY PERIOD.

SIMPLE INTEREST CHARGED DURING MORATORIUM PERIOD.

Process Fees

NIL

Repayment

Moratorium- Course period + 1 year or 6 months after getting a job, whichever is earlier.

Repayment period- 5-7 years after start of repayment.

This information is gathered from the bank's web site.

DENA BANK- HOUSING FINANCE SCHEME

2009-08-02T06:18:00.000-07:00

Dena Niwas Housing Finance Scheme

The doorway to your Dream Home

A Loan for different needs

You can avail of Dena Niwas Home Loan to purchase a plot, construct a house, buy a ready built house or buy one under construction. The loan even helps you build an extension to your existing house or purchase a house that is up to 25 years old. Besides you can take this loan for repairs and upgradation, which includes the cost of fixtures, POP works, retiling, fittings etc.

It even gives you the option to shift an existing home loan with any other Bank or Financial Institution.

You are eligible if:

· You are a major individual, resident or non-resident, having a regular source of income.

· Your age on the maturity of the loan is less than retirement age if you are a salaried employee & below 65 years, if you have a business.

· The total deductions do not exceed 60% of your gross income, including the loan installment of the proposed loan.

· Spouses/Co-applicants income can be clubbed for enhanced eligibility.

Loan Amount

· Up to Rs.100 lakhs for the purchase of a house.

· Up to Rs.5 lakhs for renovation/upgradation.

Margin

15%

Rate of Interest

Please Check out the Interest Rates Section to find latest Interest Rates applicable.

~ INTEREST CHARGED ON DAILY REDUCING BALANCE

~ NO PREPAYMENT CHARGES

~ FREE DEBIT CARD WITH INSURANCE COVER OF RS. 1 LAC IN CASE OF ACCIDENTAL DEATH

~ LOAN LIMIT OF RS. 100 LACS.

~ PURCHASE OF HOUSE UPTO 25 YEARS OLD ALLOWED

~ FLOATING RATE LINKED TO BPLR & NOT ANY INDEX/ REFERENCE RATE

Repayment

* Upto 20 years-for the purchase of a new flat/house/construction/extension.
* Upto 10 years- for repairs, renovation and upgradation.

Security

Simple equitable mortgage of the house/flat/apartment on which the loan is availed.

Process Fees

0.50 % of the sanctioned loan amount.

CORPORATION BANK -MAHILA LOAN -FOR BUYING GOLD

2009-07-19T22:35:00.000-07:00

Corp Mahila Gold - For buying Gold

This new scheme viz. "CORP MAHILA GOLD" is to finance working & non-working women for acquisition of gold bars / gold ornaments.

The Scheme details are as follows:

1. Loan Amount

Minimum Rs.10,000/- and Maximum Rs.2,50,000/- . In the case of salaried women, 12 times net take home pay, if salary is routed through the branch. If not routed, 6 times of net take home pay subject to the ceiling .

2. Eligibility

Resident Indian (Working/non-working women) of age group 18 to 58 years.

3. Rate of Interest ( with effect from 04.05.2009)

* Fully secured: 12.25 % p.a.
* Unsecured / partly secured: 13.00% p.a.

4. Margin

15% i.e. The bank will finance 85% of the cost of the gold / gold ornaments.

5. Repayment

In Equated Monthly Installments [EMIs] not exceeding 60 months.

Installment amount not to exceed 50% of the take home pay or the monthly assessed income.

6. Security

No security will be insisted for loans upto Rs.50000/-, for working women, where the salary is routed though our Bank or an undertaking letter is furnished from the employer to deduct and remit monthly EMI's to the Branch.

For non-working women: No security will be insisted for loans upto Rs.50,000/- if the loan is availed jointly with a co-obligant (who is husband/ brother/ father) drawing salary through our branch and gives an undertaking letter to deduct the monthly installments from his salary,

Loans beyond Rs.50,000/- to both working and non-working women of the above category shall be fully secured for the loan amount over and above Rs.50000/- by way of securities like NSCs/ LIC policies [surrender values]/ Govt. Bonds/ KVP's/ Term Deposit of our Bank in the name of applicant/ co-obligant.

In all other cases the loan shall be fully secured (i.e., 100% of the loan amount) by way of securities, like. NSCs/ LIC policies [ surrender values]/ Govt. Bonds/ KVP's/ Term Deposit of our Bank in the name of applicant/ co-obligant.

Note

If no tangible securities as mentioned above are available, EMG of land & building of the requisite value shall be obtained by maintaining 50 % margin .

7. Service Charges

1.00% of the loan amount.

8. Mode of Disbursement

Direct payment to the jeweller of choice of the applicant by DD /PO

CORPORATION BANK- COMPUTER LOAN

2009-07-19T22:31:00.000-07:00

Corp Byte - Computer Loan

Corp Byte

1. Eligibility

Students (Indian Nationals) of Colleges/ University / Educational Institutions pursuing their professional courses in India, provided the Institution/College undertakes to recover the monthly loan instalments.

2. Purpose

To finance purchase of Personal Computers/Laptops / Notebooks / Palmtops / PDAs / Tablet PCs etc., including other peripheral accessories like pointers / printers / scanners / digital stylus / external AC converters / UPS etc., essential for pursuing studies.

3. Quantum of Finance

Maximum Loan Amount : Rs. 1 lakh (Rupees one lakh )

4. Margin

Nil

5. Security

Hypothecation of the assets financed

6. Rate of Interest

12.50% p.a.with effect from 04.05.2009

7. Processing charges

NIL

8. Repayment Holiday

NIL

9. Repayment

The loan to be repaid on monthly basis, beginning from the month subsequent to the month of loan release and scheduled in a manner that would coincide with the student’s residual period of study at the Educational Institution / College / University, so that the loan account stands closed when the student completes his/her studies at the Educational Institution/College/University.

CORPORATION BANK- IPO SCHEME

2009-07-19T22:28:00.000-07:00

CORP IPO

1. Purpose

To provide finance to general public to subscribe to IPO/Public Issues /Rights /ESOP of reputed Corporate / Corporates approved by the Bank from time to time.

2. Eligibility :

Individuals (such as salaried persons, professionals, businessmen, pensioners etc.) either individually in their own names or jointly with others, with sufficient income to service the loan.

3. Nature of facility

Demand Loan

4. Loan amount

Minimum Rs.0.20 lakh and Maximum Rs.10.00 lakh

5. Margin

50% of the value of shares subscribed (issue price + price)

6. Rate of Interest

12.25% with effect from 04.05.2009

7. Penal Interest

@ 2% over and above the applicable interest rate on the overdue portion or at rates as prescribed from time to time.

8. Repayment Holiday

NIL

9. Repayment period

(a) In the event of refund of application money
The loan account has to be closed immediately.

(b) In the event of allotment of share
Total loan amount along with interest shall be repayable in maximum 36
Equated Monthly Installments [EMI]

10. Security

Pledge of shares allotted

11. Service charges

0.50% of the loan amount subject to a minimum of Rs.500/-

12. Guarantee

Suitable third party guarantee

CORPORATION BANK - CASH DEMAT -SHARE LOAN

2009-06-15T23:06:00.000-07:00

Corp Cash Demat

For liquidity against shares in electronic form

1. Eligibility

Individuals who have been properly introduced to the Bank
If the shares are in joint names, the loan account should be in joint names.

2. Purpose

To provide liquidity to investors against shares
To meet contingencies and personal needs or for subscribing to the Rights / New Issues of shares/Debentures/Bonds or for purchases in the secondary market.

3. Loan Amount

Minimum Rs. 50,000/- ; Maximum Rs. 20.00 lakh
[ A declaration from the borrower indicating aggregate of loans against shares availed by him/her from our Bank / Financial Institutions should be obtained]

4. Margin

Minimum 50% of the market value of shares pledged

5. Rate of Interest

Floating rate of interest 14.00% p.a. ( upto 18 months) w.e.f. 04.05.2009

6. Security

Pledge of fully paid up Equity Shares of approved companies, which are mandated for compulsory trading in Demat form loan.

7. Guarantee

Suitable third party guarantee of an IT assessee.

8. Collaterals

Collateral security shall be obtained only where considered necessary, at the discretion of the sanctioning authority

9. Repayment

Repayable within 18 months in EMIs

10. Service Charges

0.50% of the limit sanctioned, subject to a minimum of Rs. 500/- and maximum of Rs. 5000/-

CORPORATION BANK-MORTGAGE-LOAN AGAINST PROPERTY

2009-06-15T23:00:00.000-07:00

Corp Mortgage

1. Eligibility

Individuals in the age group of 18 - 60 years owning residential / commercial property [ land and/or building] and who are Income Tax Assessees.

In addition to Individuals, Proprietorship concerns, Partnership Firms & Companies may be considered for financing under the scheme, provided they are IT assessees. NRIs also may be financed under the scheme.

Salaried Persons with minimum net monthly income of Rs.20,000/- & others with minimum net annual income of Rs.2,50,000/- are eligible for loan under the scheme.

The income of close relative may be added, if he/she is a co-applicant. Where the property is in the name of a close relative, with/without income, he/she must join as co-applicant.

2. Purpose

To meet personal/domestic expenses & business requirements.

3. Nature of Facility

Loan shall be extended only as a running account in the form of Overdraft limit repayable on demand subjecct to annual review/renewal.

4. Loan Amount

Minimum loan under the scheme shall be Rs.2 lakhs per application

Maximum loan under the scheme shall be Rs.5 lakhs for Rural & Rs.10 lakhs for Semi Urban, & Rs.25 lakhs for Urban, Metro, & Port Town places.

The annual EMI (in respect of all loans including the proposed loan) shall not exceed 50% of Annual Net Income.

5. Margin

50% of the market value of the Property Mortgaged [As per the latest valuation report, not older than 6 month's, from the Approved Valuer of the Bank.]

6. Rate of Interest

For all tenors 14% p.a. with effect from 04.05.2009

7. Security

Equitable Mortgage of immovable property.

Note : In case the applicant or his/her spouse has availed housing loan with the Bank, continuing security of property already mortgaged shall be obtained by maintaining not less than 25% margin on the value of the house property for the outstanding balance in the Housing Loan and 50% towards proposed Corp Mortgage Loan.

8. Guarantee

Not Mandatory

9. Repayment

Loan shall be in the form of running account repayble on demand.

10. Service Charges

1.00% of the loan amount sanctioned .

CORPORATION BANK-CORP RENTAL

2009-05-24T22:52:00.000-07:00

Corp Rental - Encash your future rent receivables from commercial properties

1.Introduction

The Scheme envisages financing the owner of the commercial properties against future rent receivables for the unexpired period of lease specified in the lease agreement.

2. Eligibility

Eligible applicants for financing under the Scheme would be Individuals/ Partnership Firms/ Corporates/ Trusts/ HUFs, owning commercial buildings let out to reputed organizations, where the unexpired period of lease is generally more than three years.

NOTE: Age of the commercial building leased/ let out shall not be more than 15 years.

3. Purpose

The loan may be availed for any productive purpose such as taking up new projects, business or towards contingencies or to meet domestic/ personal/ any other commitments.

4. Quantum of Loan

The minimum loan amount is Rs.5 lakhs .No upper ceiling [ subject to prudential exposure limits fixed by the Bank ].

Only fixed loans are to be considered under the Scheme

5. Assessment of Eligible Loan Amount & Margin

The quantum of loan should be restricted to the extent of 70% of rent receivable net of TDS, Taxes and Rent Deposit with 30% margin during the unexpired period of the lease [upto a maximum of 120 months only].

6. Security

Charge over rent receivables and equitable mortgage of building property whose rent is charged to the bank.

7. Third Party Guarantee

In the case of loans to partnerships, Trusts and Private Ltd.Companies, personal guarantee of partners, Trustees and promoter directors, respectively, should be obtained without fail. No separate third party guarantee need be insisted upon in such cases.

In all cases other than Corporates, suitable third party guarantee should invariably be obtained.

8. Rate of Interest: 13.25% with effect from 04.05.2009

9. Repayment

Loan shall be repaid in Equated Monthly Installments within the unexpired period of lease or 120 months (maximum) whichever is less.

10. Processing Charges

A one time up-front fee of 1% of the loan amount.

CORPORATION BANK-MEDITECH-FOR HOSPITAL EQUIPMENTS

2009-05-24T22:38:00.000-07:00

Corp Meditech - to purchase Medical Equipment

1. Eligibility

Any Registered Medical Practitioner in the age group of 23 to 65 years either singly or jointly with spouse/other close relatives, with a minimum experience of one year for doctor/s.

Two or more registered medical practitioners jointly with spouse/close relatives, or a firm where at least 50% partners are doctors OR a company owned by at least 50% by doctors.

Professionals managing Medical Diagnostic Centers & Testing Labs

Hospitals which are being run/managed by Companies/Trusts/Institutions, where the ownership is at least up to 50% with doctors.

2. Purpose

To finance brand new Electro Medical & other sophisticated equipments including OT equipments, Air conditioners, ambulance, Generators, Refrigerators, Personal Computers and accessories with related software and UPS etc.

In the case of setting up of clinics, purchase of furnitures & fixtures, furnishing, Air conditioning, Electrification may also be financed.

3. Loan amount

Up to Rs.2.50 crore. [ Loans above Rs.25 lakhs are assessed based on on DSCR]

4. Margin

Margin to be maintained at 15% of the cost of equipments/assets to be financed.

5. Rate of Interest

12.00% p.a. with effect from 04.05.2009

6. Security

Loans upto to Rs.10 lakh are to be secured by hypothecation of machinery/equipments/assets, financed by the bank & a suitable third party guarantee.

Loans for above Rs.10 lakh are to be invariably secured by collateral security of immovable property OR other approved securities like Bank deposit/NSC/LIC policy, etc. valued at least 50% of the loan amount in addition to the hypothecatiOn of assets financed.

7. Guarantee

Not Mandatory. However, based on their risk perception, Sanctioning Authorities may, on case to case basis, stipulate suitable third party guarantee.

8. Repayment

Maximum 60 months in EMIs [including initial moratorium of upto 3 months]. Upto 84 months considered depending on useful life of asset.

9. Service Charges

0.50% of the loan amount sanctioned subject to a minimum of Rs.1000/-

CORPORATION BANK-PROFESSIONAL

2009-04-25T02:30:00.000-07:00

Corp Professional - for acquiring Office premises by professionals

1. Purpose

To finance acquisition of office premises for self occupation and Furniture and Fixtures required for the office premises purchased under the Scheme.

2. Eligibility

Registered Medical Practitioners, practising Advocates, Chartered Accountants, Company Secretaries, consulting Engineers and Architects, etc., individually/jointly or as a partnership firm, having an established practice with a minimum experience of three years, in the age group of 25 to 55 years. The applicant should be an Income Tax Assessee with a minimum annual gross income of Rs.1.50 lakhs.

3. Quantum

Upto Rs.50 lakhs in Metro, Rs.25 lakhs in Urban/Port-town, Rs.10 lakhs in Semi-urban and Rs.5 lakhs in Rural places. The maximum loan amount determined based on financial viability and income/ repayment capacity of the professional.

4. Margin

15% of purchase consideration [the agreement value inclusive of stamp duty/ registration] in case of purchase of ready built premises [age not more than 5 years]

25 % in case the premise is more than 5 years old.

40 % for furniture and fixtures.

5. Rate of Interest

12.00% p.a. w.e.f. 01.04.2009

6. Security

The loan should be fully secured by the Equitable Mortgage of the Office Premises. Hypothecation of the furniture & fixtures financed under the scheme.

7. Guarantee

Third party guarantee is not mandatory.

8. Repayment

The entire loan amount is repayable in Equated Monthly Instalments within 84 months, with an initial moratorium upto 12 months.

9. Processing Charges

0.75% of loan amount subject to a minimum of Rs.5,000/-.

CORPORATION BANK CONSUMER-FOR CONSUMER ITEMS

2009-04-25T02:23:00.000-07:00

Changing Lifestyles - Corp Consumer

Taking cognizance of the needs of your changing lifestyles, Corporation Bank has created a simple loan scheme to make your day to day living more comfortable. In today's age of competition, the choices are many. With Corp Consumer, you can instantly bring home the consumer durables of your choice - from TV, refrigerator, CD/DVD player, mobile phone and washing machines to Personal Computers and furniture. Avail Corp Consumer loan and enjoy a better life.

1. Eligibility : Individuals with minimum gross income of Rs. 50,000/- p.a.
Salaried persons should be confirmed in service.

2. Purpose : To finance purchase of consumer durables such as Refrigerator, Cooking range, Food Processor, Grinder, Television, Electronic Audio System, Washing Machine, ACs, Microwave oven, Lap Top/ PCs including accessories, Mobile Phone, Multi Media Kits, UPS, Digital Camera, Generators, Hand Video Camera and furniture.

3. Loan Amount : Maximum Rs.1 lakh.

4. Margin : Minimum 15 % of the invoice value

5. Rate of Interest : 13.00% w.e.f. 03.02.2009

6. Security : Hypothecation of the item(s) purchased from Bank's finance.

7. Guarantee : Suitable third party guarantee.

C-Home borrowers no guarantee but continuity letter of EMG.

8. Repayment : Maximum 36 months in EMIs [ Up to 60 months at Manager's discretion ].

EMI not to exceed 50% of Take Home Pay.

Post dated cheques for all cases except where there is an undertaking to route through salary/ installments by employer.

9. Service Charges : Rs. 500/- irrespective of the loan amount.