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 undertake gainful self employment
Eligibility – People who have undergone short duration training programs and professionals like Doctors Engineers etc.
Loan amount – Need based or cost of the project to be undertaken
Security – Hypothecation of assets created for loan amount up to Rs.25,000/- ; Hypothecation of assets + Rs.50,000/- third party guarantee for loans above Rs.25,000/- ; Equitable or registered mortgage of immovable property worth equal to the loan amount for loans above Rs.50,000/-
Margin – 10-15%
Repayment – Monthly installments
Documents Required – Quotation for assets purchase out of Bank finance; Legal Opinion on immovable property offered as security.