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, vehicle loans etc in order facilitate the customers in rural and semi urban areas.
Purpose – To provide financial assistance for purchasing Solar Water Heater Systems with necessary accessories
Eligibility – Households in Rural, semi Urban and Urban Areas, business establishments, Hostels, Hospitals, Hotel or Restaurants etc. who have an assured source of income to meet out Repayments. Any individuals, institutions, NGO’s and commercial organizations
Loan Amount – Up to 85% of the cost of the project
Cost of Project – from Rs.9500 to Rs.6.00 Lakh
Margin – 15% of the project cost
Rate of Interest – 2% for domestic uses, 3% for Institutions, 5% for Industrial or commercial uses
Repayment – Maximum Repayment period 5 years inclusive of 3 months moratorium period in equated monthly installments.