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.
One of the main objectives of the bank is to carry on the business of Banking (‘banking means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise as defined in the Banking Regulation Act 1949).The loan portfolio of the bank includes home loan, personal loans, vehicle loan, business loan, industrial loans, education loan etc.
Purpose – The loan is offered for personal purpose of the customer
Eligibility – Salaried, professional or self employed capable of repaying the loan are eligible for the loan
Quantum of Loan – Maximum Rs. 25 lakhs, 90% of deposits
Period – Maturity
Rate of Interest – 2%
Security – NSC, Fixed Deposit, LIC Policy