Kerala bank is a scheduled State Cooperative Bank in India. It is introduced by the Government of Kerala. It was launched by Pinarayi Vijayan, chief minister of Kerala in December 2019. Kerala State Cooperative Bank provides strong, sound and the leading Organisation in the Cooperative credit structure. And it is the backbone for the rural financial sector of Kerala.
The efficient management of an organisation aspires to function as a professional, socially responsible,profitable organisation ensuring the best service to the stakeholders and customers. They provide good value for their money and ensure accelerated development of rural peoples. 14 district cooperative banks are in our state. First cooperative bank in Kerala is Trivandrum Central Cooperative Bank.
Kerala Bank provides a loan scheme called KB Suvidha Plus. It does not need collateral. It is provided to prevent the complications of covid 19. Many people suffer from financial difficulties because of covid 19. Our government provides a collateral free loan scheme for them. According to Suvidha Plus they provide up to 5 lakhs. The eligibility for this scheme is bus owners,small business entrepreneurs, electric vehicle owners,etc.
The main aim of the scheme is to increase the income of entrepreneurs and help them to increase their businesses. This loan will get 9 % interest. The repayment period is 60 months. Government provides a four percent subsidy. The customer can give a five percent interest rate. Government announced special packages of 50 crores for this scheme. Those in crisis due to monsoon and covid-19 can apply for the scheme. Micro, small and medium entrepreneurs, bus owners in manufacturing services marketing can apply for this loan scheme.
Kerala bank will be safe and reliable banking for everyone. If you are eligible, you can apply for this loan. KB suvidha plus loan scheme is very useful for common people. Because it has low interest rates. You will get this loan easily. Entrepreneurs will get this loan easily. It provides help to increase the business. You can buy an electric vehicle with a subsidy.