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 self employed and professional
Eligibility – Sufficient Cash flows to repay; Income Tax returns of 1 to 2 years; With Minimum of 2 years standing
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: 1, 00,000 OR 1 year’s 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; Loan Rs. 50,001/- to 1, 00,000/- ; Two TPG acceptable to the Bank.