Saurashtra Gramin Bank – Personal Loan for Self Employed & Professional

By Pradeep Yuvaraj | July 7, 2011

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.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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