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 etc in order facilitate the customers in rural and semi urban areas.
Purpose – Assistance for domestic needs like purchase of household goods, education, medical treatment and other miscellaneous expenses
Eligibility – Female beneficiaries whose husbands are permanent employees of Government or Semi Government, educational or financial institute as drawing salary from branches of our Bank
Amount Of Loan – Four months net income or salary of husband or maximum Rs.20, 000/
Margin – NIL
Rate Of Interest – The interest rate is 12.50% per annum
Repayment – The borrower will have to repay the loan amount in 36 EMI