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Housing Loan

Type of loan

Long term loan – Non-agriculture. 

Method of Repayment

EMI / Non-EMI 

Purpose    

Construction/ Repair / Outright purchase of houses 

Eligibility criteria

Individuals. 

Scale of finance     

Not applicable. 

Limit of loan

Rs:30 Lakhs 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

300 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: 100 and a maximum of Rs:525. 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

News & Events

12-09-2017
IFS Codes of bank/branches has changed
30-08-2017
Tenders invited for Printing and Supply of Calendars and Diaries for 2018
15-06-2017
Revision of Deposit Interest rates with effect from 16-06-2017
05-06-2017
RBI observing Financial Literacy week from June 5-9 across the Country, be a part of it
05-06-2017
Reminiscence of Sri EV Kumaran-Formar bank president held at bank auditorium on 03-06-2017
13-04-2017
Sri A Abdul Rasheed, Joint Registrar of Cooperative Societies has taken charge as Part-Time Administrator of KDC Bank
31-01-2017
KDC Bank Received the NABARD AWARD for the best financial perfomance and initiative under Developmental field during the year 2015-16
08-03-2017
KDC Bank Customers have secured cash back concerned with the Lucky Grahakh Yojana declared by central government recently for promoting digital transaction.
03-11-2016
KDCB Bank got Special Recognition award in DCCB Category in Banking Frontiers Awards
01-08-2016
Bank will not ask your ATM Card Number and Secret PIN in any case. beware of such frauds
08-04-2016
RTGS/NEFT Facility is absolutely FREE at Our Bank without any limit.
08-04-2016
NRE account facility is available at all branches of KDC Bank. Fix an appointment with our branch at your convenience..
08-04-2016
Customers can now easily change their existing bank to our bank for AADHAAR Linking. Submit the Mandate Form to our branch immediately
08-04-2016
All type Scholarship Schemes for School going students can be availed through their KDC Bank accounts,
05-08-2016
All our customers can now enjoy the facility of DBT and All AADHAAR based payments. Link your AADHAAR Number immediately
08-04-2016
KDCB RuPay Debit cum ATM Card is acceptable in ATMs/Retail Outlets/PoS all over India. Enjoy the convenience of Cashless Shopping Conact KDC Bank Branch for your ATM card
08-04-2016
Unclaimed deposits Transferred to RBI - DEAF(Depositor Education and Awareness Fund Scheme)-2014 for more details see link Downloads
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