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.