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.
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 – Construction of Rural Godowns or cold Storage for procuring and storing Agriculture produce of farmers in rural area.
Eligibility – Individual farmer, Group of farmers, proprietor or partnership firms, NGO’s SHG’s Corporations, companies, cooperative societies, Agro processing cooperative societies, Agricultural production and marketing societies and marketing Boards.
Amount Of Loan – Project cost as per capacity of rural godown or Cold Storage less Margin.
Margin – 25% for general categories 20% for SC or ST beneficiaries
Subsidy – 25% to 33.33% of project cost as per capacity of rural godown or cold Storage less Margin. Maximum Rs.37.50 Lac and Rs.50.00 Lac respectively (back ended)
Rate of Interest – 12.25% p.a. up to Rs. 10 lakhs, 13.50% p.a. above Rs. 10 lakhs
Repayment – In 10 -12 years