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 said three RRBs were sponsored by Bank of India and had location proximity.
Like the parental bodies, the amalgamated entity functions under Regional Rural Banks’ Act 1976 and is sponsored by Bank of India. Head Office of the Bank is situated at Lucknow, the capital of Uttar Pradesh. Regional Offices of the Bank are Barabanki, Lucknow, Hardoi, Farrukhabad, Kannauj and Unnao.
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 etc in order facilitate the customers in rural and semi urban areas.
Purpose – To provide financial assistance for domestic needs
Eligibility – Permanent Government, Semi-Government, teachers and salaried persons drawing salary from branches of our bank
Type Of Facility – Clean overdraft or Term loan
Quantum Of Loan – Ten times of net salary maximum Rs.1.5 Lakh
Rate of Interest – 13% per annum
Repayment – Clean overdraft – Annual review
Term Loan – 60 equated monthly installments