Baroda Rajasthan Gramin Bank, sponsored by Bank of Baroda, was established by Central Government by amalgamating 5 Regional Rural Banks – Marudhar Kshetriya Gramin Bank, Aravali Kshetriya Gramin Bank, Bundi Chittorgarh Kshetriya Gramin Bank, Bhilwara Ajmer Kshetriya Gramin Bank and Dungarpur Banswara Kshetriya Gramin Bank, sponsored by Bank of Baroda. The Head Office of the bank is at Ajmer and its three Regional Offices are at Sawai Madhopur, Bhilwara and Churu.
The operational area of the bank is spread in 13 districts of Rajasthan through a network of 274 branches and 20 satellite offices.
Purpose: This loan finances construction or o purchase of residential property.
Eligibility: Any person above the age of 21 years can apply for this home loan. In case of a co-borrower, the minimum age is 18 years. The age of the borrower added to the repayment period chosen, should be less than 62 years in case of pensioners or non-salaried applicants. In case of a salaried person, the account should be liquidated on attaining retirement.
Quantum of Loan: The maximum amount that can be availed as loan is Rs. 50 Lakhs. The maximum quantum of loan is 60 times of monthly gross salary in case of salaried class. It is 5 times the Net average (last two years) annual income in case of customers other then salaried class people.
Repayment: Flexible 15 years loan repayment period.