Chikmagalur Kodagu Grameena Bank was established in the year of 1984 under the RRB Act1976. The Bank is named after the Districts Chikmagalur and Kodagu where the operational network is spread. The Bank is sponsored by the Corporation Bank a premier public sector Bank. The Bank has its Head Office at Chikmagalur, Karnataka State.
The Bank has a net work of 52 branches i.e. 34 branches in Chikmagalur and 18 in Kodaug Districts, with dedicated work force. The Chairman and two Directors each nominated by Government of India, sponsor Bank and Government of Karnataka and one Director each nominated by NABARD and RBI, head the Bank’s Management.
The bank offers home loan, personal loan, vehicle loan, agricultural loan, business loan, educational loans etc.
Purpose – To meet the short-term working capital requirements of our valuable customers
Type of Loan – Fixed loan account (repayment in installments); Overdraft account (Secured)
Quantum of Loan – The minimum loan amount is Rs. 1.00 lakh and maximum is Rs.5.00 lakhs. The value of the securities (in case of immovable property) shall be 150% of the loan amount.
Maximum Permissible Bank Finance: 70% of the projected turnover. Increase up to 25% of previous year turnover in sales may be accepted.
Security – In accordance with the Loan Amount