Malwa Gramin Bank is a project of State Bank of Patiala. The Bank was established on 27th Feb 1986. It is 100 % computerised on CBS platform. At present the Bank is operating in 371 villages with 53 branches and is operating in 5 Districts of Punjab.
The Bank has achieved tremendous growth in business during the year 2010-11. The bank is mainly involved in offering help to the farmers in the rural areas; it offers home loan, personal loan, educational loan, festival loans etc.
Purpose – The main purpose of the Kisan Gold Card is to invest in improvement of agriculture land, water resources, agriculture Machinery and tools, stock and sheds etc.
Eligibility – All the Farmers (Kisans) with good Track Record with Bank
Loan Limit – 1.loan amount is 5 times of the annual agriculture income, 2.50% of the mortgaged land’s value, besides the above said facts the loan amount must not exceed 10 lakh
Margin – 10 % of the Project Cost
Security – Charge on the goods financed by the Bank, mortgage of the land valuing 200% of the loan amount
Interest – 10.5% for loan up to Rs. 200000/-, 12% for loans more then Rs.200000/-
Repayment – 6-7 years in equal half yearly installments