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.
Purpose – The loan is offered for any personal purpose
Eligibility – Those who are having NSCs/Kisan Vikas Patra in their name; those who are having LIC policies in their name (NSC, KVP/LIC policy in the name of minors are not eligible for loan)
Quantum of loan – NSC/KVP-50% of face value if purchased within three years from the date of application; 75% of the face value if purchased three years and above from the date of application. LIC policies -90% of the surrender value
Security – Pledge of NSC/KVP certificates in case of loan against NSC/KVP; assignment of LIC policy in case of loan against LIC policies
Repayment – Maximum 36 months repayment can be fixed accordance with income of the applicant or up to the maturity of securities offered whichever is earlier.