The kaduthuruthy urban co-operative bank was registered on November 14th 1973 with 323 Members and a share amount of Rs 17900/-as working Capital. In November 1974 itself the Bank came under the Banking Regulation Act from then onwards the bank’s deposits are having Insurance Coverage. The bank was issued license by the RBI on 17.06.1986, under its guidance the bank developed its business and achieved a top position by proving to be the financial controller of Kaduthuruthy and near by places.
The Bank was successful in increasing its deposits by introducing attractive deposit schemes like Current Account, Savings Account, Fixed Deposit Account, Nithya Vardhini Deposit Account, Recurring Deposit account, Anugraha Cash Certificate, Akshya Deposit Scheme etc. The Members can avail Agricultural /Non Agricultural loans, Business Loans, Housing Loans, Vehicle Loans, Education Loans, personal loan and Loan for Self Employment purpose etc.
Purpose – To offer financial assistance to its customers for various personal and business purposes
Eligibility – Self employed, professional, salaried capable of repaying the loan
Quantum of Loan – Maximum Rs. 20 Lakhs
Period – 60 months
Slab – Up to 50,000 50001 to below 1 lakh; 1 lakh to 2 lakh
2 lakhs to 5 lakh; 5 lakh to 10 lakhs; 10 lakh to 25 lakhs;
Security – Property
Rate of Interest – 13%-16.5%