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 – To meet expenses like marriage, family functions, medical expenses, educational expenses, travel etc.
Eligibility – Employees of State and Central Government, Public Sector Undertakings, Reputed Hospitals, aided Educational Institutions run by Trusts/Educational Societies, minimum Net salary Income Rs 3000/ per month.
Quantum of loan – Maximum amount of loan offered by the bank is Rs 1.00 lakhs
Repayment – The repayment period of the loan
is 12 months to 36 months
Rate of Interest – The rate of interest of the personal loan offered by the bank is 14.00%