The Kottayam District Cooperative Bank Limited No.4309 is the apex body of the PACS in the District. The Bank was registered on 31.07.1958 under the Travancore-Cochin Cooperative Societies Act and has started functioning on 01.09.1958.
It is at present functioning under the control of KCS Act 1969 & byelaws, as approved by the RCS. As previously mentioned the Bank was formed by converting the Kottayam Branch of Kerala State Cooperative Bank. The loan portfolio of the bank includes home loan, personal loan, vehicle loan, business loan, industrial loans, education loan etc.
The objectives of the bank includes to open, with the permission of the Registrar, branches at suitable places in the District, to develop, assist and co-ordinate the work of affiliated societies; to arrange for the supervision of societies;
Purpose – The main purpose of the loan is to offer financial assistance to its customers for any personal purpose
Eligibility – Salaried, professional or self employed capable of repaying the loan are eligible for the loan
Quantum of Loan – Maximum Rs.25 lakhs
Repayment Period – 12 months
Rate of Interest – 14%