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 liquidity mismatch or any other purpose of the applicant
Eligibility – Owners of buildings and commercial properties, which are rented or proposed to be rented
Loan Amount – 36 months net rental income or 50 percent of the value of property;
Minimum Rs 1.00 lakh .Maximum Rs 5.00 lakhs
Margin – 50% of the market value of property 84 months in EMI not less than 50% of rental income
Other conditions – The property offered as security to be insured against risk of fire, earth quake, riots, lighting, flood etc for full market value; assignment of receivables and recording of power of attorney with the resident.