Saurashtra Gramin Bank is a Regional Rural Bank, was established under RRB Act, 1976 & Three banks namely JRGB, JAGB & SBGB, new prompted by SBS (now 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 – To offer financial assistance to the customers for any personal purpose
Eligibility – Applicant, who is major, must be Resident of our service area village/town, preferably existing customer or reputed and known to the Bank fulfilling KYC Norms having saving bank A/c with the Bank.
Repayment Period – For CC/OD:- within 12 months. Limit Renewable every year.
For DL:- Repayment should be made within 3 years in monthly/Quarterly/Half Yearly/Yearly installments coinciding with the harvesting & Marketing seasonal generation of income from the business Activity. Interest to be recovered as and when applied
Processing Charge – 1% of sanctioned limit is to be recovered on the date of disbursement and there after annually on same date
Margin – 20% of advance value
Quantum of Loan – Minimum: Rs. 5000/-; maximum: As per purity & weight of Gold ornaments; No Loan Should Be Given against below 18 Carat Gold Ornaments
Security – Gold Ornaments will remain as pledged to the bank.