Aryavart Gramin Bank, a Regional Rural Bank, was constituted on 3rd October 2006 after amalgamation of three Regional Rural Banks (RRBs) namely Avadh Gramin Bank, Barabanki Gramin Bank and Farrukhabad Gramin Bank as per Government of India notification no. F.No.1/4/2006-RRB dated 03-10-2006.
The Aryavart Gramin Bank, henceforth mentioned as the Bank, has 306 branches, six Regional Offices and a Head Office. The bank offers home loan, personal loan, agricultural loan, educational loan etc in order facilitate the customers in rural and semi urban areas
Purpose – Financial assistance for mango production and marketing
Eligibility – Mango growers having mango orchards
Amount Of Loan – According to scale of finance and land holding.
Margin – NIL
Rate Of Interest – 7% up to Rs. 3,00,000 (wherever 3% interest subvention is available), 9% up to Rs. 50,000 (wherever 3% interest subvention is not available), 12% above Rs.50,000 (wherever 3% interest subvention is not available)
Repayment – for crop production – after harvesting and marketing of crop; for setting up new orchards – In 13 years including moratorium period of 8 years; for rejurivation of old orchards –in 8 years including moratorium period of 3 years; for Nursery –In 7 years including moratorium period of 2 years.