Cauvery Kalpatharu Grameena Bank is one of the Regional Rural Banks established under Regional Rural Banks Act, 1976. Cauvery Kalpatharu Grameena (CKG) Bank was established on 24th May 2006 by amalgamation of Cauvery Grameena Bank and Kalpatharu Grameena Bank. It is sponsored by State Bank of Mysore. The bank offers a variety of loan products such as personal loan, agricultural loan, vehicle loan etc.
Purpose – General Purpose Loan
Eligibility – Employees of State/Central Government reputed institutions whose monthly income is Rs 6000 and above, for others net annual income of Rs 1.00lakh, age is within 60 years, professional and Self Employed and others who are IT assesses, persons engaged in agriculture and other activities, EMI of the proposed loan should not exceed 50 % of net monthly income,
Loan amount – Minimum Rs.0.50 lakhs, maximum Rs. 15.00 lakhs
Margin – 50% of the market value of the property offered as security
Period of Loan – Maximum 84 months
Repayment – Repayable in 84 EMIs for term loan, in case of OD, interest debited to the account to be serviced
Other conditions – Agricultural Property or house property in revenue lands will not be accepted as security, valuation to be done by approved value, property proposed for mortgage shall be insured