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 vehicle loan finances purchase of new two-wheeler and new / old four-wheeler
Quantum of Loan: The maximum amount granted as loan fortwo wheelers is Rs. 1 lakh. In case of four-wheeler the maximum loan amount is Rs. 10 lakhs.
Eligibility: Anyindividual of rural semi-urban and urban Branches can avail this loan scheme.
Margin: There is a margin of 15% for new vehicle & minimum 35% for new / old four-wheeler.
Rate of Interest: The rate of interest is 12% per annum for new and 14.00 % per annum for old vehicles.
Repayment: Maximum period within which repayment has to be done is 60 months.