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 meet the personal needs of the customer
Eligibility – As evidenced by 3 months salary slips; Salary disbursed through our Branch.
Rate of Interest – 13.50%
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: 25,000; Maximum: 50,000 OR 15 months NMI whichever is Less
Security – Loan up to Rs. 50,000/ – One TPG acceptable to the Bank; Obtain 4 Advance Post dated cheques for Quarterly EMI; Irrevocable Letter of authority from borrower; letter from employer accepting borrower’s authority letter for payment of salary through our bank