CORPORATION BANK - CASH DEMAT -SHARE LOAN

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

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 .