Kadamba is the pioneering organisation for introducing community banking scheme (MYMONEY) very systematically and effectively.
Mymoney is primarily served with a specific members group who they have opened their account under Mymoney scheme. And the loan system is tailored to meet the unique needs of the member
Mymoney is offering a more personalized approach to lending. Loan officers work closely with borrowers to assess their financial situation, understand their needs, and structure loans that are suitable for their circumstances.
Mymoney offers a flexible range of loan products, including personal loans, mortgages, small business loans, and more.
Under this scheme Kadamba has adopted our own loan offerings mechanism to meet the specific demands of the customers need as per banking protocols.
Like all financial institutions, we carefully assess and manage the risks associated with lending. The lending decisions based on a combination of credit-worthiness and local relationships. While they consider credit scores and financial history, they may also take into account the borrower's character and reputation within the community.
Mymoney scheme is subject to the regulatory oversight by the state and federal cooperative guideline to ensure they adhere to lending laws and consumer protection regulations.
The loan amount is linked with the customer’s monthly recurring deposit amount and the total months they adopted