Chikmagalur Kodagu Grameena Bank- General Credit Card

By Pradeep Yuvaraj | July 3, 2011

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 offers home loan, personal loan, vehicle loan, agricultural loan, business loan, educational loans etc.

The Scheme shall cover general credit needs of Bank constituents in rural and semi urban areas and shall be referred to as the General Credit Card Scheme (GCC)

Objective –           to provide hassle free Credit to Bank’s customers based on the assessment of cash flow without insistence on Security, Purpose or end use of the Credit

Nature of Financial Accommodation: The credit facility extended under the scheme shall be in the nature of revolving credit.

Quantum of Loan –           Maximum of Rs.25000/-

Rate of Interest –           As applicable from time to time at present 12% per annum

Category –           Loans under GCC shall be classified as unsecured under priority sector advance

Terms –           The borrowers would be eligible for availment of the credit facilities provided under GCC as per their requirement

Security –           Under the scheme there would not be any insistence on security including third party guarantee

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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