Saurashtra Gramin Bank – Doctor Plus

By | July 6, 2011

Saurashtra Gramin Bank is a Regional Rural Bank, was established under RRB Act, 1976 & Three banks namely JRGB, JAGB & SBGB, new prompted by  SBI since 1978.

These three Banks were amalgamated into one Bank namely Saurashtra Gramin Bank as per the Government of India directives since 02/01/2006.

The bank is actively involved in offering loans such as home loan, personal loans, car loan, education loan, business loans etc.

Purpose                      – The loan is offered to qualified doctor to start their own venture

Eligibility                     – Individuals /Partnership / Ltd. Co. / Trust; Promoters should have minimum Degree of MBBS / BAMS / GAMS /BDS/ BHMS; they should be registered practitioners; Key promoter should be a qualified doctor

Repayment Period     – Minimum DSCR 1: 1.5

Maximum period 3 years to 10 years for Term Loan and One year for O.D., renewable yearly. Maximum moratorium 12 months, (for construction purpose), (Up to 6 months In other cases)

Processing Charge     – 0.5% of Loan Limit

Margin                         – Up to Rs. 25,000/- – NIL; Above Rs. 25,000/- and up to Rs. 5 lakhs – 10%; Above Rs. 5 lakhs – 15%

Quantum of Loan       – Maximum: Rs. 25.00 lakhs

Under SBF Segment:

Rural & Semi Urban Centers: Maximum Rs. 15.00 lakhs

Urban Centers:  Maximum Rs. 10.00 lakhs

Under C & I Segment: Loans beyond the ceiling fixed under SBF segment to be considered under C&I Segment for a maximum amount of Rs. 25.00 lakhs with sub ceiling for working capital limit Rs. 3.00 lakhs. Loan under C&I segment will not qualify for Priority Sector Lending.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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