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 salaried person for personal purpose
Eligibility – Sufficient Cash flows to repay. Salary disbursed through our branch for Min. for 3 months; as evidenced by 6 months Salary Slips
Employees of Govt. reputed Public Sector units or Profit Making Public Limited Company with min of 6 months of appointment.
Rate of Interest – 14%
Repayment Period – In EMI of 12 to 36 months as per capacity wishes of the borrower. Total deduction including EMI not to exceed 60% of salary; Renewal of loans may be considered after 24 Months.
Processing Charge – 1% of loan Amount
Margin – No Margin
Quantum of Loan – Minimum: 30,000; Maximum: 50,000 OR 10 NMI Whichever is Less
Security – Loan Up to Rs. 50,000/- ; One TPG acceptable to the Bank, 4 Advance Post dated cheques for Quarterly EMI.
Irrevocable letter of authority from borrower; Letter from employer accepting borrower’s authority letter