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 Mutual Funds & loans such as home loan, personal loans, car loan, education loan, business loans etc.
Purpose – The loan is offered for any personal purpose of the borrower
Eligibility – Sufficient Cash flows to repay with 3 to 5 years standing, who are tax assesses; The facility will be considered only if a power of attorney or mandate is registered with Principal Organization with which the agent deals authorizing them to remit the commission direct to the Bank.
Rate Of Interest – 15%
Repayment Period – In EMI of 12 to 36 months as per capacity of borrower; 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: 2,00,000 OR 1 year’s NAI Whichever is Less
Security –
Loan Up to Rs. 50,000/-
- One TPG acceptable to the Bank.
- 4 Advance Post dated cheques for Quarterly EMI.
Loan Rs. 50,001/- to 1, 00,000/-
- Two TPG acceptable to the Bank.