Borrowers from Kerala State Co-operative Bank can join the Risk Fund Scheme. The Risk Fund Scheme is enacted to cover the loan liability of loanees (up to 70 years) who die during the loan period and also aims to give relief to the dependents of such persons. In this scheme a balance loan amount of Rs. 1, 50, 000 capital and interest need not be paid back in case of death of the borrower.
The premium amount varies from Rs. 100 – Rs. 525 and the scheme will not be available to persons who default payments for more than 6 months. All Borrowers should ensure joining Risk Fund Scheme while availing loans from the Bank.
Kerala Cooperative Risk Fund Scheme is implemented by the Kerala Cooperative Development Welfare Board.