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 – To extend loan assistance for purchase and installation of Solar Home Lighting Systems
Eligibility – Farmers, Traders, Businessman, Professionals, Salaried Persons, Institutions, Associations, small business establishments, and any individual who is credit worthy and having a fixed source of income.
Quantum of Loan – Maximum 75% of the cost of the system
Margin – 15% of the project cost
Security – Assets created out of Bank finance i.e. Hypothecation of SLS – Credit worthy guarantor acceptable to the Bank
For loans exceeding Rs.25000/- obtention of collateral like mortgage of property/ LIC policy/ NSC etc., as required
Repayment – Loan amount and interest shall be repaid within a maximum period of five years in monthly/quarterly/half yearly/yearly installments to suit the source of income of the borrower.