In 1976, the central government amalgamated Uttar Bihar Kshetriya Gramin Bank and Kosi Kshetriya Gramin Bank (transferor regional rural banks) sponsored by Central Bank of India in the state of Bihar into a single regional rural bank which began to be called as Uttar Bihar Gramin Bank with its head office at Muzaffarpur.
Uttar Bihar Gramin Bank sponsored by Central Bank of India, is one of the largest regional rural bank in India in terms of branch network, staff strength and area.
Purpose: For Construction of house, purchase of house, renovation, addition/ alteration of existing house
Eligibility: Any individual can avail this loan. Loans for business purposes are granted based on the viability of the project to meet the bank loan and interest.
Quantum of loan: Home loan amount shall be three times of net annual income. Loans for renovation /expansion/ alteration of houses are limited to a maximum of Rs. 50,000.
Rate of interest: The rate of interest is 10% per annum.
Margin: There is a margin of 20% for residential and 25% for commercial purpose.
Repayment: The repayment period for residential purpose house loan is 10 to 15 years. For Commercial purpose loans the repayment period is 7 years.