Kerala Bank Loan Schemes 2022 | Interest Rate 5% : Through this article, we are going to make you aware of the Suvitha Plus loan policy of Kerala Bank. There are no human beings without problems. Financial problems put most people in trouble. In order to tackle financial barriers, money is an important factor. Basically, when people land in financial trouble, they depend upon bank loans. There are lots of banks in Kerala with their typical loan schemes.
Here is great news for those who need financial assistance for self-employment. As per this policy, you can get up to Rs. 5 lakh loan. The special feature of this scheme is that it does not need any type of collateral. For those who are planning to start up small-scale businesses, you can avail this loan for just 5% interest. 4% subsidy will be provided by the government.
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Everyone wishes to startup their own business or engage in self-employment because there is job freedom. But, financial problems are the obstacle to such dreams. This loan scheme titled ‘KB Suvidha Plus’ of Kerala bank will be of great relief for people. Through this loan, you can either begin a small-scale business or develop your already existing business.
The main mission of this scheme is to overcome the crisis caused due to covid-19. This policy was started to help people working in micro, small and medium enterprises and those working in the manufacturing, service, and marketing sector who were in crisis due to Covid-19 and the monsoon scheme. This policy which was implemented in the previous year will be of great benefit for the bus owners.
Under this scheme of the Kerala Bank, you can also get a loan for buying an electric vehicle with a good discount. You can avail this specific loan for 9% interest. But 4% interest will be provided by the government as a subsidy. So the subscribers have to just pay 5% interest. There will be 60 months of repayment time for this loan. As per the Kerala government’s declaration of a 50crores special package, it has been decided to give a discount on the interest rate.
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Those who are financially struggling due to adverse climatic conditions and problems caused due to covid-19. This loan will be very much beneficial for those engaged in the agriculture sector. As there is a discount offer on interest, this loan will be helpful to people.
Kerala State Co-operative bank is a renowned scheduled bank in India. It was launched by State Chief Minister Pinarayi Vijayan. Its supreme authority is a general body that consists of a class of members, ex-officials, and directors who are nominated by the government. The board of directors consists of 21 members of which fifteen are elected by a class of members of the bank.
Its headquarters is in Trivandrum. It has seven regional offices. The Kerala bank receives RBI approval. This new bank will undoubtedly be the largest banking network in the state. It has been noted that a large number of NRI Keralites are taking a good interest in depositing their money with the Kerala bank.
| Type of Loan Kerala Bank | Kerala Bank Rate of Interest(%) |
| Kerala Bank Housing Loan : | 9.00 % |
| House Maintenance Loan : | 9.00 % |
| Kerala Bank Personal Loan: | 12.00 % |
| Kerala Bank Vehicle Loan : | 11.00 % |
| Kerala Bank Education loan | 12.00 % |
| Kerala Bank Gold Loan | 8.90 % |
| KB-Micro Finance | 9.00 % |
| KB-Mithra (MSME) Loan | 8.75 % |
| KB-Kissan Mithra | 7.00 % |
Who owns Kerala Bank?
Kerala State Co-operative Bank Limited, branded as Kerala Bank, is a Scheduled State Co-operative Bank in India established by the Government of Kerala. The Bank was established by merging 13 District Co-operative Banks in Kerala with Kerala State Co-operative Bank.
Kerala Bank website : Click Hre
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