Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wainganga Kshetriya Gramin Bank, Chandrapur, Solapur Gramin Bank, Solapur and Ratnagiri-Sindhudurg Gramin Bank, Ratnagiri.
The authorized capital of the Bank is Rs. 500.00 lakhs and the paid up capital is Rs. 400.00 lakhs. Government of India, Government of Maharashtra and Bank of India has contributed 50 %, 15%, and 35% of the share capital respectively.
Purpose: This is a type of overdraft facility offered by the bank.
Eligibility: General Credit Card is for those who are not presently availing loans but are eligible for loan excluding migratory tillers / labourers. Joint Liability Group / SHG members are eligible for loan under this scheme.
Quantum of Loan: The maximum limit of loan under this scheme is Rs. 25000/-.
Margin: There is no margin for this loan scheme.
Interest: Interest is calculated on daily products. Application of interest is half yearly. Simple Interest calculation is done on the loan generally. Compounding is done only upon default of installment.
Repayment: Repayment can be done at the convenience of the borrower at least once in a year.
Security: No security is required for this loan.