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 pensioners for personal purpose
Eligibility – Sufficient Cash flows to repay. Pension disbursed through our branch for Min. for 3 months.
As evidenced by 6 months Pension Slips; Employees of Government reputed PSU or Profit Making Public Limited Company with min of 6 months of appointment.
Quantum of Loan – Minimum: 30,000; Maximum: 50,000 OR 10 NMI Whichever is Less
Rate of Interest – 13%
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
Security –
For loans 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