Kerala Cooperative risk fund 2008 is a scheme operated by 'Kerala cooperative Developement and Welfare Developement Fund Board' which has been implemented as per the directors of Goverments of Kerala.

Salient Feautures

• The objectives of the scheme is to give coverage up to RS. 300000/- to the loanees who join the risk fund scheme. The Welfare Board gives an amount up to the outstanding loan maount and its interest due to the bank maximum up to rs. 300000/- incase he/she dies during the loan period.
• If the loanee die with in the loan period and at the same time the laonee is a defaulter for more than six months, then he/she is not eligible for the risk fund.
• The loan period should be such that the loanee completes it with in age of 70 years.
• If the loanee has become a chronic patient with desease like cancer, kidney failure, cardiac surgery, paralysis, AIDS, etc after availing loan from bank and is not in a position to clear the liablities, in such cases amount of maxiumum up to RS.100000/- and its interest due to bank iseligible for risk fund.
• For that, the member has to remix 0.50% of the loan amount with minimum RS.250+GST and maximum up to RS.1000+GST to the bank.