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 bank offers home loan, personal loan, agricultural loan etc in order facilitate the customers in rural and semi urban areas.
Purpose – To promote organic farming by making available the organic inputs like vermi compost, to increase agriculture productivity while maintaining soil health and environmental safety, to reduce the dependence on chemical inputs, to make available the earth worms for making vermi compost, to convert organic wastes to plant nutrient
Eligibility – Individuals, group of farmers or Growers, Co-operatives, NGO’s, SHG’s.
Quantum of Loan – Maximum Rs.10 Lakhs
Pattern Of Financial Assistance – Owner’s contribution is 25%, Subsidy from Government of India is 25% subject to the maximum ceiling of Rs.1.5 Lakhs (back ended)
Margin – 15 – 25%
Rate of Interest – 12.50% per annum
Repayment – The Repayment period will depend up on the cash flow and may be generally up to 8 years with a grace period or 1 year.