CORPORATION BANK- IPO SCHEME

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-IPO SCHEME

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 11.08.2008

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

Please click here for list of implementing Branches identified under the Corp IPO scheme

CENT LIQUID

Target Group

Individuals who are the bona fide owners of the share/debentures and are maintaining DEMAT account with Depository Participant.

Nature of Facility

In the form of Over draft or Demand Loan. The facility will be under Non Priority Sector.

Purpose

For meeting contingencies and needs of personal nature or for subscribing to rights or new issues of shares / debentures against the security of existing shares and debentures.

Security

Shares in dematerialised form only. The lien with Depository Participant should be marked in Banks favour.

Margin

50% on the value of the shares worked out on the basis of Average market price for last 6 months or the current market price whichever is lower.
Quantum

Maximum Rs.20.00 lakhs

Rate of Interest

Click here to view Interest Rates

Repayment

On Demand or 12 months whichever is earlier. The limit may be reviewed on annual basis and renewed on merits.

Processing Charges

For Loan up to Rs.25000/- Rs.100.00
From Rs.25001/- to Rs.50000/- Rs.200.00
From Rs.50001/- to Rs.75000/- Rs.350.00
From Rs.75001/- to Rs.1.00 lakh Rs.500.00

For above 1.0 lakhs to 2.00 lakhs whichever is higher Rs.1500.00 or 1% of Loan
For above 2.0 lakhs to 3.00 lakhs whichever is higher Rs.2500.00 or 1% of Loan
For above 3.0 lakhs to 5.00 lakhs whichever is higher Rs.3500.00 or 1% of Loan
For loan above Rs.5.00 lakhs whichever is higher Rs.5000.00 or 1% of Loan