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 Purchase a site or plot allotted by District Urban Development Authority, Housing Board, City Improvement Trust Board, Municipal Corporations, Bangalore Development Authority, State Development Authority, Subsequent sales may also be considered
Eligibility – All individuals or employees of government, semi-government or public undertaking who are not above the age of 55 years with a steady source of income
Quantum of Loan – 24 times net monthly income or 2 years annual income subjected to production of satisfactory proof or 80% of the cost of site whichever is lesser
Margin – 20 Percent of the cost of site /plot
Repayment – Maximum of 60 months EMI