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.
It is jointly owned by Government of India, State Bank of Mysore and Government of Karnataka, the share capital is contributed in the ratio of 50:35:15 respectively. It is a Scheduled Commercial Banks permitted to carry all kinds of business. The bank offers a variety of loan products such as personal loan, agricultural loan, vehicle loan etc
Purpose – Purchase of new consumer durable items like TV Set, Radio, Record Player, Music System, Refrigerator, Washing Machine, VCP, VCR etc
Eligibility – Salaried employees, professional and Self Employed persons such as doctors, chartered accountants, advocates, contractors, Agriculturists etc
Quantum of Loan – 75 Percent of the cost of item, Maximum Rs 35000/-
Disbursement – Margin money to be remitted to the Bank by applicant, loan amount and margin money amounting to the invoice value of the item will be paid to the supplier through demand draft by the Branch
Period of Advance – 3 years
Repayment – Regular Equated Monthly installments