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. In bank’s deposits grew to the level of Rs. 563.84 crore with a net increase of Rs. 52.11 crore over 2009-10. The advances of the Bank grew to the tune of Rs. 471.62 crore, a net increase of Rs. 61.18 crore over 2009-10. The bank is mainly involved in offering help to the farmers in the rural areas; it offers home loan, personal loan, festival loans etc.
Objective – The main purpose of the scheme is to cope with the immediate needs and for Production Motives.
Eligibility – All the owners, holders or guardians of National Saving Certificate and Kisan Vikas Patra
Loan Limit – Loan amount as is decided by Bank according the personal needs.
Interest – The interest rate is fixed as minimum of 11.5%
Margin – The margin is fixed as 35%
Security – NSC or KVP will be transferred on Bank’s name and Pledged