Gurgaon Gramin Bank is a Regional Rural Bank, Sponsored by Syndicate Bank having its Head Office at Gurgaon. Bank is having Tie-up arrangement with 166 Companies or Corporate providing personal loan, House Building Loans, Vehicle Loans & Educational Loans.
OBJECTIVE – To meet the credit requirement for farmers
ELIGIBILITY – All farmers having agricultural lands in their own name and residing in the service area of the branch are eligible under the scheme.
QUANTUM OF LOAN – Maximum Credit limit of Rs. 5 lakhs; the sub limits for Crop Production is Rs. 3.00 lakhs (subject to scale of finance), Rs. 2.00 lakhs for other Agricultural Activities and Rs. 1.00 lakhs for activities allied to agriculture
RATE OF INTEREST – 7.00 % p.a. for crop loans and 13.00% p.a. for other loans, 11.50% p.a. up to Rs. 2.00 lakhs, 13.00% p. a for loans above Rs.2.00 lakhs.
SECURITY – Mortgage of immovable property valued at least 200% of loan amount; hypothecation of Unit.
PAYMENT – Crop loan on demand, term loan within 5 years.
MARGIN – 10% of project cost but no margin to be insisted for limit sanctioned for crop production.