Krishna Grameena Bank (KGB) is a Regional Rural Bank established in terms of provisions of Regional Rural Banks Act 1976 & is sponsored by State Bank of India. The shareholders of the Bank are Government of India (50%), State Bank of India (35%) and Government of Karnataka (15 %).
The Bank is established on 01-12-1978. The area of operation of the Bank comprises three districts namely Gulbarga, Bidar and Yadgir. The present Branch network is 119, of which 94 branches functioning in rural area, catering to the needs of farming community, rural artisans and other rural mass. Krishna Grameena Bank is pioneer in promoting & extending financial assistance to Self Help Groups (SHGs). It offers home loan, personal loan, vehicle loan, agricultural loan, business loan etc.
Purpose – To purchase home need items like TV, computer, Refrigerator etc.
Eligibility – Salaried persons or persons having monthly income
Quantum of Loan – Maximum Rs.25, 000/- for purchase of consumer durables
Disbursement Pattern – As per quotation directly to the dealer
Security – Hypothecation of consumer durables
Margin – 15-25%
Repayment – 36 equated monthly installment.
Documents Required – Quotation provided; Salary Certificate; Salary undertaking from drawing officer