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 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 – Agricultural labours who have no agricultural land in their names and are engaged in farming as tenant farmers or oral lessees.
Eligibility – Agroup of 5 to 20 tenant farmers who are associated in self help groups for last 3 months and graded according to self help group concept.
Amount Of Loan – Rs.20, 000/- per member of the group maximum Rs.2.00 Lakh
Margin – NIL
Rate Of Interest – 7% up to Rs. 3, 00,000/ (wherever 3% interest subvention is available), 9% up to Rs. 50,000/ (wherever 3% interest subvention is not available), 12% above Rs.50, 000/ (wherever 3% interest subvention is not available)
Repayment – As per revolving cash credit