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: This loan finances higher studies.
Quantum of loan: The maximum amount that can be granted as loan is Rs. 7.5 lakhs.
Eligibility: Any permanent resident of area of operation of the branch of the bank within an age group of 16 to 40 years who has secured admission to professional/ technical course through entrance test/ selection process may avail this personal loan.
Rate of interest: The rate of interest is 11% per annum to 12% per annum.
Margin: Up to Rs. 4 lakhs there is no margin. Above Rs. 4 lakhs there is a margin of 5%.
Repayment: There is a moratorium period of course period + one year or six month after getting the job, which ever is earlier.