Aryavart Gramin Bank Housing Loan

By Pradeep Yuvaraj | March 29, 2011

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                      – Financial assistance for purchase of land or flat and for construction of residential house

 

Eligibility                     – Individuals, Salaried persons, professional and self employed having adequate repayment capacity.

 

Amount of Loan         – Rs. 15 Lakh in which Rs.5.00 lakh

 

Quantum Of Loan      – As per project cost.

 

MARGIN                      – 20%

 

RATE OF INTEREST    – 8.75% if Repayment in 5 years; 9.25%, Repayment above 5 years and up to 10 years; 9.50%, Repayment above 10 years

 

REPAYMENT                – Maximum 15 years in equated monthly installments.

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Pradeep Yuvaraj

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

4 thoughts on “Aryavart Gramin Bank Housing Loan

    1. AvatarTeam BankBazaar

      Hi Manoj, Kindly check if you’re eligible for a Home Loan here. Cheers, Team BankBazaar

      Reply
    1. AvatarTeam BankBazaar

      Hi Manoj, Kindly check if you’re eligible for a Home Loan here. Cheers, Team BankBazaar

      Reply

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