Sponsored by Punjab National Bank, the Madhya Bihar Gramin Bank was established under the Regional Rural Bank Act by the Government of India dated 10th February 2006. The bank offers all the necessary services required by the rural and urban areas. With the changes happening in the banking sector, the bank is now offering its services to the non-target group beneficiaries too, along with target group beneficiaries. The Bank has been bestowed with the ‘Best Performing Bank’ award for the second successive year, by Shri Santosh Kumar Ganwar, the Minister of State Finance, during the Pension Conference held last year.
Madhya Bihar Gramin Bank is a digitalized bank and offers e-services such as NEFT, RTGS, Credit Card and Debit Card Services, IMPS and Mobile Banking services. With the mobile baking services offered by the banking, you do not have to personally visit the bank to carry out bank transactions. The bank offers its mobile banking services through the ‘MBGB mBanking’ App. The app supports Android version 4.4 and above. Using the mobile banking services of the bank, you can avail services such as balance inquiry, fund transfer, mini statement, mobile/DTH recharge, online registration, and password reset. To avail mobile banking service, first, register your mobile number with your bank.
Steps To Madhya Bihar Gramin Bank (MBGB) Mobile Banking
- Visit the website http://www.mbgbpatna.com/ and click on e-services.
- Choose the tab ‘Mobile Banking Services’. You will be transported to the link http://www.mbgbpatna.com/mobile-banking-services.php.
- Click on the option ‘Download the app here’, and install the app on your mobile.
- Else, you can also download the app from the Google Play Store by typing ‘MBGB mBanking’ in the search tab.
- On installing the app, you will have to accept the terms and conditions mentioned therein and click on ‘I Agree’ button.
- Thereafter, if you are already using the internet banking facility of the bank, you can use your login id and password and sign in to activate mobile banking service.
- If you are registering as a new user, click on the tab ‘New User’.
- You will have to provide your Account number and choose the facility option and click on ‘continue’ to proceed further.
- Follow the instructions thereafter to activate mobile banking.
How To get personal loans from Madhya Bihar Gramin Bank
- Loan Amount: The bank provides loans from Rs. 10,000 to Rs. 5 lakh.
- Income Requirements: Applicants for a Madhya Bihar Gramin Bank personal loan should have a minimum monthly income of Rs. 12,500 for urban locations and Rs. 10,000 for rural regions.
- Eligibility: The loan can be taken by the following people:1.) Permanent employees working in central or state governments, defense, statutory enterprises, PSUs, hospitals and educational institutions such as universities and colleges, provided the salary of the applicant is being paid through the bank. The loan is also available for people who do not have a salary account with the bank if they opt for a check-off facility.
2.) Teachers with contractual employment provided that they have been working for more than 2 years and have qualified with the necessary eligibility test.
3.) Doctors and dentists with a total income of over Rs. 4 lakh per annum.
4.) Employees of the bank.
- Repayment Tenure: The borrowers can opt for a repayment tenure of up to 5 years (60 months).
- Interest Rates: The bank will charge the following interest rates for different applicants for its personal loans:
Madhya Bihar Gramin Bank Personal Loans Interest Rate
|Category of Borrowers||Salary Disbursement Criteria||
|Effective Interest Rate|
|Public||Borrowers whose salary is disbursed from the bank||BPLR – 1.50%||12.50%|
|For others||BPLR – 0.75%||13.25%|
|Defence Personnel||Borrowers whose salary is disbursed from the bank||BPLR – 1.75%||12.25%|
|For others||BPLR – 1.25%||12.75%|