The Kottayam District Co-Operative Bank Limited – Loan for Purchase of Agricultural land / Residential Property

By | June 12, 2011

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 to the customers for the Purchase of Agricultural land / Residential Property

Eligibility                     – Salaried/ professional/ self employed with repaying capacity

Quantum of Loan       – Maximum 25 lakhs

Period                         – 120 months

Rate of Interest         – 14%

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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