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.
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 To facilitate the customers in rural and semi urban areas with hassle fee credit based on the assessment of cash flow without insistence on security, purpose or end use of the credit
Eligibility Such people, who are engaged in agriculture, business or self employment etc.
Quantum of Loan Rs.25, 000/-.
Margin – NIL
Rate of Interest 11.50per annum
Repayment This is in the nature of overdraft or cash credit with no end use verification stipulation. The limit may be reviewed annually and revised or cancelled depending upon track record of the account holder.