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.
Now area of operation of Uttar Bihar Gramin Bank are the districts of Araria, Katihar, Kishanganj, Darbhanga, East Champaran, Gopalganj, Madhepura, Madhubani, Muzaffarpur, Purnea, Saharsa, Saran, Sheohar, Sitamarhi, Siwan, Supaul, West Champaran and Vaishali in the state of Bihar. 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 purchase of one or more vehicles including passengers/ goods carrying vehicle of standard make may avail this loan.
Eligibility: Any individual/ group of persons/ firm can avail this personal loan. Applicant should preferably posses driving license/ route permit or assurance letter of road permit
Security: Registration – Vehicle to be registered with R.T.O. with name of the Bank as financer under hypothecation clause.
Margin: Margin – Above 25,000.00 – 25% of the cost of the vehicle.
Repayment: Repayment – 60 monthly installments.