Pandyangramabank has been merged with Tamil Nadu Grama Bank. Pandyangramabank is no longer in action. Please visit Tamil Nadu Grama Bank for this. This website is only for providing information related to the merge. English |தமிழ் பாண்டியன் கிராம வங்கி -Pandyan Grama Bank Service with Smile.

Highlights

  • 40 Years of banking service
  • Operating in 16 Districts of Tamil Nadu
  • More than 300 Branches
  • NEFT/RTGS facility available
  • Western Union Money transfer
  • Net NPA continues to be NIL for the 13th year
  • Farmers’ Training Centre

Chairman’s Message

Dear visitor, As we are stepping into our 41st anniversary today (i.e.09.03.2017) we have immense pleasure in presenting an updated, user-friendly, and more informative version of our website, which we are dedicating to viewers N. RAVICHANDRAN (Chairman)

Farmer Literacy Center

What’s New|Achievements|Board Members|Business Hours|Tenders PGB Meenave Thozhan Scheme Loan disbursal under Meenavar Thozhan by Hon’ble Prime Minister FIRST PRIZE Excellent Performance in JLG Credit Linkage 2015 – 2016 As on 31-Mar-2017 Business Mix reached Rs. 10051.91 crore Deposits crossed Rs. 5541.23 Crore Credit crossed Rs. 4510.68 Crore Operating profit of Rs. 121.78 Crore Achieved a recovery percentage of 97.67 % Credit Deposit Ration is 81.40% Shri.N.RAVICHANDRAN Chairman Pandyan Grama Bank Administrative office Virudhunagar-626002 Shri.Suresh Kumar Venu Assistant General Manager Reserve Bank of India CHENNAI – 600 001 Shri.S.Srinath Deputy General Manager NABARD Chennai – 600 034 MONDAY TO SATURDAY 10.00 a.m. to 4.00 p.m. LUNCH BREAK 2.00 p.m. TO 2.30 p.m. 2nd & 4th SATURDAYS HOLIDAY OTHER SATURDAYS FULL WORKING DAY SUNDAY HOLIDAY Publishing Date Tender Details Last Date 08.01.2018 TENDER FOR AUCTION OF TATA INDIGO TOURIST TAXI 24.01.2018 09.10.2017 TENDER FOR AUCTION OF TATA INDIGO TOURIST TAXI 26.10.2017
  • Branches
  • Banking Services
  • EMI Calculator New
  • Loan Inquiry New

Insurance Business

Corporate Agent of Univeral Sampo and LIC of India. All the products of Universal Sampo and LIC of India will be available at our all branches.

Micro Credit

Winner of Best performance award from NABARD. Recognized as a Model Institution by NABARD for hosting Exposure visits on SHGs and JLGs.

Farmers’ Clubs

Farmers Clubs program implemented by the bank in coordination with NABARD helps to propagate the principles of development through credit and it is the grass root level informal forum aims at creating a cordial relationship between the Bank and a farming community for mutual benefit.

Kisan Credit Card Scheme

To meet the production credit requirements of the farmers in a timely and hassle-free manner, Bank has implemented the scheme in letter and spirit and thereby, sanctioned `882.51 crores by issuing 353905 Kisan Credit Cards during the year 2015-16 Visit Us Address Pandyan Grama Bank, Administrative Office, 2-70-01, Collectorate Complex, Virudhunagar – 626 002. Tamilnadu. WebSite www.pandyangramabank.in Contact Us Email contact@pandyangramabank.in Phone 04562 252859 Quick Links RTI Act http://rti.gov.in/webactrti.htm Banking Ombudsman Scheme Today the Tamil Nadu Grama Bank stands tall with its main office located in Salem. This bank is a result of merging two of the most famous regional banks in the South. They are the Pandyan Grama Bank and the Pallavan Grama Bank. These Grama banks were spread across several districts in Tamil Nadu. But the merger has intensified their reach among the general public. The merger between these banks was brought into effect on 1st April 2019. Under the guidance of the Indian Bank, this bank has delivered high-quality services to its customers. Tamil Nadu lies at the southernmost tip of India. It has a rich heritage and diverse cultural traditions. Agriculture is the primary source of livelihood for 70% of the population. It is one of the most urbanized states in India. Virudhunagar is the head office of the Virudhunagar district. The major portion of the economy is based on the service sector. About 93% of the population is engaged in this sector, and the remaining 7% are involved in agriculture. Agriculture is one of the significant means of livelihood in this state. The government has ensured stability and an increase in sustainability in this sector to fulfill the growing population demands. Through this article, I will put forth the details of one of these regional rural banks. The Pandyan Grama Bank is one of the famous banks in Tamil Nadu. It offers several services to its customers. In this article, I have included all the deposits, the types of loans, the services, and the different financial schemes offered by this bank. So, let’s learn more about the details of this bank.

Pandyan Grama Bank

Pandyan Grama Bank is situated in the rural area of Tamil Nadu. It is a scheduled public sector bank. It provides banking and financial services to its customers. The bank was founded in 1996, and its foundation was laid under the Regional Rural Bank Act 1976. It was established on 9th March 1977 in the Sattur region of Tamil Nadu. But it was re-located at Virudhunagar on the 16th of July in the year 1993. Thus, Virudhunagar is the new location of the bank. Its main objective is to assist the agricultural and non-agricultural sectors. It provides services to the masses from the rural areas engaged in these activities. The Government of Tamil Nadu, the Government of India, and the Indian Overseas Bank share ownership rights. The share capital is in the ratio of 3:10:7 for each of the three. Its mission is to provide economical services with the simplest system and procedures.

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Banking Ventures Of Pandyan Grama Bank

The administrative office of the Pandyan Grama Bank is located at Virudhunagar. This region had emerged as an important trade center during the British rule. Since then, this town has advanced into a self-sufficient region as it is occupied with all the basic entities required for livelihood. This bank has a total of five regional offices spread across different areas in Tamil Nadu. Theses are areas are Virudhabagar, Sivagangai, Thoothukudi, Tirunelveli, and Thanjavur. The bank also has many branches spread across 17 districts. These districts are Virudhunagar, Sivagangai, Ramanathapuram, Pudukottai, Thiruvallur, Thoothukudi, Tirunelveli, Kanyakumari, Madurai, Theni, Dindigul, Trichy, Thanjavur, Thiruvarur, Nagapattinam, Ariyalur, and Perambalur. This bank has a total of 333 branches in the state of Tamil Nadu.

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The List Of Pandyan Grama Banks In Chennai Is As Follows

  • Palur, Tamil Nadu
  • Sattanathapuram, Tamil Nadu
  • Perambalur, Tamil Nadu
  • Pandanallur, Tamil Nadu
  • Vallakkotai, Tamil Nadu
  • Agaram Sigoor, Tamil Nadu
  • Thanjavur, Tamil Nadu
  • Thiruvengadu, Tamil Nadu
  • Valikandapuram, Tamil Nadu
  • Jayamkondam, Tamil Nadu
  • Sendurai, Tamil Nadu
  • Tirumangalam, Tamil Nadu
  • Pudukkottai, Tamil Nadu
  • Akkanayakkanpatti, Tamil Nadu
  • Marthandam, Tamil Nadu
  • Madurai, Tamil Nadu

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Major Feats And Accomplishments

The National Bank for Agriculture and Rural Development (NABARD) has awarded the Pandyan Grama Bank for its excellent services towards the agriculture sector in Tamil Nadu. They have achieved the Best Performance Award and an A rating for their hard work and dedication. It is one of the most successful rural banks in India.

The Toll-Free Helpline Number Of Pandyan Grama Bank

The toll-free helpline number of the Pandyan Grama Bank is 1800-425-4445.

Toll-Free Customer Care Numbers Of The Pandyan Grama Bank

The customers can contact the bank to resolve their queries. The bank helps the customers to solve their adversities at any time. Customer care contacts are as follows:
  • 04562-252128
  • 04562-252630
  • 04562-252633
  • 04562-252836
Email: contact@pandyangramabank.in Official website: www.pandyangramabank.in Head office: Administrative office 2-70-01, Collectorate Complex Virudhunagar- 626 002 Tamil Nadu.

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Pandyan Grama Bank Profile   

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Balance Enquiry In The Pandyan Grama Bank

Two modes can make the balance inquiry in this bank. Let’s look into these methods of inquiry.

1. Missed Call Service

The Pandyan Grama Bank has made provisions for its customers to inquire about the balance through missed calls. Thus, the customers can now check their balance without traveling to the bank. The missed call service is a convenient way of getting updates about one’s bank balance, which helps them keep track of their expenses and transactions. The steps to go about this mode are:
  • To use these services, the mobile numbers of the customers should be registered with the bank. Only when the account is linked with the contact number, the bank will be able to deliver the right details to the account holder.
  • The registered users can miss the toll-free number 04562-252128 only from the registered mobile number.
  • After the user has given a missed call, the banks will provide the customers’ balance details. The details will be conveyed to the customer via a message on the mobile.
  • If the message isn’t delivered to the user, then he can inquire in the bank. He can visit the bank and find out about the non-delivery of the message.

2. SMS Service

  • Through this mode, the users can send an SMS from the registered mobile number. The SMS should be sent to any of the toll-free numbers provided by the bank.
  • The key point to be noted here is: the mobile number should be linked to the account.
  • The SMS should be formatted as follows: BAL<Account number> and send it to 04562-252128 from the registered mobile number.
  • If the user sends an SMS from a non-registered number, the bank will send a blank balance status.

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How To Register The Mobile Number In The Pandyan Grama Bank Account?

In the digital market, the registered mobile number plays an important role. All the banks have net banking and phone payment facilities. Therefore, to make such transactions having a registered mobile is a must. It makes online transactions and transfers feasible. The One Time Password (OTP) is an authentication tool that makes transactions unique to the user. These OTPs are generated and sent only to the registered mobile numbers to complete the process of transactions. Thus, the registered mobile numbers are essential entities that digitalize our transactions. So, register your mobile number with the bank account. To do the customers will have to submit an application form to the bank. The application for mobile number registration is given as follows: To The Bank Manager of Pandyan Grama Bank,[mention here the branch location name]. (Subject: Application for Mobile Number Registration in my Bank Account) Dear Sir, With due respect and humble submission, I beg to state that I am[Mention Your Name]. I have a Bank Account in Pandyan Grama Bank, [Mention Branch name], [Account Number], [Mobile Number], [Address]. I feel that I had made a mistake during the bank account opening and forgot to mention my mobile number. Now I am mentioning my current active mobile number, i.e. [Mention here your current active mobile number] for being registered in my bank account. Therefore, I shall be very grateful if you register my current mobile number in my bank account. Yours faithfully, Name: Address: Mobile Number: Account Number: The steps to register a mobile number in the Pandyan Grama Bank are given as follows:
  • Print the application form provided above.
  • Fill in the details in the highlighted portion.
  • Submit the duly filled form to the manager of any of the branches of the Pandyan Grama Bank.

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How To Change The Registered Mobile Number In Pandyan Grama Bank?

If the account holders are planning to change their existing registered mobile number, follow the steps. a) Visit the nearest branch of the Pandyan Grama Bank, where the account is maintained. Make sure you carry all the necessary documents like an aadhar card, a copy of your proof of address, passport, and so on. b) Download the form for changing the registered mobile number. The form is given below. After printing, the user should fill in the details and submit the duly filled form to the nearest Pandyan Grama Bank manager. The following details should be specified in the form—bank details like account number, type of account, and the account holder. Details you wish to change from the currently registered ones. The new details to be registered. c) Submit the form with all the necessary documents as asked by the bank officials. d) The bank employee will verify your form and other valid documents. After verification, he will notify you regarding the acknowledgment of the request. e) After successfully processing the request, the bank will change the registered mobile number. The account holder will be verified by SMS on the new registered number or an email regarding its success. To The Bank Manager of Pandyan Grama Bank, [mention here the branch location name]. (Subject: Application for changing of mobile number against existing one) Dear Sir, With due respect and humble submission, I beg to state that I am[Mention Your Name]. I have a bank account in Pandyan Grama Bank, [Mention Branch name], [Account Number], [Mobile Number], [Address]. My registered mobile number is not active. So hereby, I am mentioning my Current Active Mobile Number, i.e.[Mention here your current active mobile number] for being changed. Therefore, I shall be very grateful if you Change my Current Mobile Number against the existing one. Yours faithfully, Name: Address: Mobile Number: Account Number:

How To Open A Savings Account In The Pandyan Grama Bank?

The savings account in the Pandyan Grama Bank can be opened either by a single individual or by joint applicants. For a joint account, this bank permits two or more members. To open a savings bank account, the steps should be followed. 1. Visit the nearest branch of the Pandyan Grama Bank. The applicants first need to visit the branch bank to open a savings account. 2. The Account Opening Form (AOF) should be filled and submitted. The Account Opening Form will be available at the bank. It should be duly filled with all the details of the applicant. Information like the name, address, contact number, email id, PAN, nominees name, type of account, and so on should be mentioned in the prescribed form sections. 3. The necessary documents should be attached with the Account Opening Form (AOF) KYC documents should be mandatorily be attached with the AOF. The bank branch will specify these documents. Some of the KYC documents are PAN, proof of address, and proof of identity. 4. The banking executive will verify the form and the KYC documents. Once the applicant submits the form and the KYC documents, then the bank will process his request. If the application looks promising, then the procedure to open the account will proceed. 5. To open a savings bank account, deposit a minimum amount as per your requirement. After the banking executives verify the Account Opening Form (AOF) and the applicant’s documents, the bank will allocate an account number. The account holders need to open the account by depositing a minimum amount. The amount depends on the type of savings bank account. 6. The debit/credit card, passbook, and checkbook shall be obtained from the bank. After the account is open, the bank will provide all the necessary documents to the account holder. These documents include checkbooks, passbooks, and other documents needed to make transactions from the bank.

Key Points To Be Noted Before Opening A Savings Bank Account In Pandyan Grama Bank

  • Research on all the branches of the Pandyan Grama Bank in and around your locality. Check the bank, which offers a higher interest rate on the savings account. Then open an account in that bank.
  • Be aware of the interest rates offered by every bank in your locality. Otherwise, you would end up losing on good deals.
  • While filling the form, make sure that you capitalize all the letters and use black ink.
  • While filling the AOF, if you overwrite, then make sure to countersign.
  • A relationship manager is provided by the private banks who look into the applicant’s issues and queries.
  • Every account holder should necessarily avail of the nomination facility.
  • Submit the original KYC documents for verification.
  • The maintenance of the minimum balance is a must for every savings account.
  • Some banks insist on the physical presence of the applicant before opening the account. To procure their signatures at the relevant places.

Documents Needed To Open A Savings Bank Account

The documents needed to open a savings account in the Pandyan Grama Bank are as follows:
  • Two recent passport size photographs of the applicants.
  • PAN otherwise form 60 would have to be submitted, stating the reason for not having one.
  • KYC documents like proof of identity and proof of address.
  • Proof of date of birth for minors and senior citizens.
All these documents should be submitted along with the Account Opening Form (AOF). The bank may demand the original copies of all these documents for verification. Once the verification process is complete, the account will be opened.

Documents Used As Proof Of Identity

  • PAN card
  • Aadhar card
  • Passport
  • Voter’s identity card
  • Driving license with photograph
  • Confirmation letter from the employer
  • Letter from the recognized public authority that verifies the identity and the residence of the applicant.

Documents Used As Proof Of Address

  • Passport
  • Voter’s identity card
  • Driving license
  • Telephone bill
  • Electricity bill
  • Ration card
  • Bank account statement
  • Letter from employer
  • Self-declaration by the High Court and the Supreme Court that specifies the new address of the applicant.

Documents Used As Proof Of Date Of Birth (Mandatory For Minors And Senior Citizens)

  • Birth certificate
  • School leaving certificate
  • Passport
  • Voter’s identity card
  • Government ID card
  • Driving license
  • Ration card
  • Pension card

Interest Rates On Savings Account In The Pandyan Grama Bank

Interest Rates On Fixed Deposits In The Pandyan Grama Bank

Interest Rates On Recurring Deposits In The Pandyan Grama Bank

Deposits Under Pandyan Grama Bank

There are two types of deposits available under this bank.

1. Regular Deposits

i. Savings Bank Account

  • The Savings Bank Account is the safest and secure way of parking the hard-earned cash. This account is flexible, and it is intended to meet all types of customers’ requirements. The account holders can avail of services like checkbooks, frequent transactions, mobile banking, and much more.
  • The least amount required for opening this account is predefined. It varies with the location of the bank. Thus, the amount varies from urban to rural areas with KYC proofs.
  • The savings bank account offers an interest of 3.5% per annum on balance.

ii. Basic Savings Bank Deposit Account

  • These accounts can be opened only by the targeted customers. It is also flexible and permits numerous transactions at a time.
  • There is no minimum limit set to open this account. It can be opened with zero balance.
  • The interest earned on the deposits is at the rate of 4.00% per annum.
  • The maximum balance that persists in this account should not be more than Rs.50,000 at a time.
  • A maximum of 4 transactions is allowed in a month.
  • An account holder of this account is not allowed to have any other savings bank account. If an individual has a savings bank account and a basic savings bank deposit account, it will have to be closed. The account should be closed within 30 days, only after opening a basic savings bank deposit account.

iii. Fixed Deposit Account

  • In a fixed deposit account, the money is locked-in for a fixed period. It means that the account holder has no access to his funds. Thus, the money parked in this account cannot be touched by the account holder. The money is locked until the account has attained its maturity.
  • The interest earned through this account is more than a savings account. The simple interest is earned after every quarter. For senior citizens, an additional interest of 0.50% is offered for deposits over 180 days.
  • Every individual is eligible to apply for this account.
  • The minimum amount required to open this account is Rs.100.

iv. Recurring Deposit Account

  • Just like a fixed deposit, the recurring deposit accounts are opened for a fixed time. This account generates a higher interest rate than the savings account.
  • Every individual can open an account under the recurring deposits.
  • The minimum amount required for this account is Rs.5 or any multiples of Rs.5.

v. Re-investment Plan Account

  • By investing in a re-investment plan, customers can earn more interest on their funds. Ultimately, the deposits in this account will generate more interest. Probably more than a regular savings account.
  • This account earns compound interest that is paid upon the maturity of the account. For senior citizens, the interest rate is incremented to 0.50%. Only when the money is deposited for a fixed period of more than 180 days.
  • A minimum amount of Rs.100 is required to open this account.

2. Special Deposits

i. Tax Saver

  • Every individual including; Hindu Undivided Families, can open an account under tax saver.
  • A minimum amount of Rs.100 is required to open this account. The maximum limit for depositing in this account is Rs.1.5 lakh.
  • Joint accounts can also be opened under the tax saver. But the tax deductions under section 80C can be availed of only to the first account holder.
  • Loans cannot be availed against tax saver.
  • The lock-in period for the deposits under tax saver is 5 years.
  • The interest earned is 6.40% for every individual. For senior citizens above 60 years, the rate of interest is raised to 6.90%.

Loans Given By Pandyan Grama Bank

1. Personal Loan

i. Vehicle Loan

This loan can be availed by individuals to purchase automobiles. This includes new cars, used cars, three-wheelers, two-wheelers, buses, or any other vehicle. Every individual is entitled to avail of this loan. The maximum period for repayment of this loan is approximately 84 months.

ii. Home Loan

The home loan can be availed by individuals who intend to buy or construct a new house. The loan can be taken even to renovate the house. The borrowers should fulfill the eligibility criteria to avail of the home loan. They should be aged between 18-60 years old. The borrowers should not extend the repayment period beyond their retirement. The maximum period for repayment of this loan is 60 months.

iii. Home Furnish

This is a new product that can be availed only by the current borrowers of home loans. This loan serves as an addition to the current home loan that is persisting. It caters to meet the financial requirements provided they are on par with the repayment. The maximum amount of loan that can be availed by the subscribers is not more than Rs.20 lakhs. The borrowers should have paid at least 12 EMIs of the existing home loan to avail of the new loan. The loan under home furnish should be repaid for 10 years.

iv. Plot Purchase Loan

The plot purchase loan caters to the financial needs of the existent home loan borrowers. To become eligible to avail of this loan, the housing property should be located only in the Competent Authority’s approved area. The age restriction to be eligible for this loan is between 18 to 60 years. The repayment should be completed within 180 EMIs.

v. Education Loan

The educational loan is an initiative to cater to the educational goals of students. This loan covers all the educational costs and other essential entities. This includes travel expenses, hostel expenses, purchase of books, devices, and so on. This loan is restricted only to Indian residents. Provided they have successfully admitted into a professional or a technical college. The maximum time allotted to repay the loan amount is 10 years.

vi. Mortgage Loan

The mortgage loan caters to the financial needs of the customers. These needs include medical, educational, marriage, house repairs and renovation, and so on. Every salaried individual can avail of the benefits under this loan. The repayment of the loan should be accomplished within 84 EMI payments.

vii. Rent Encashment Loan

The loan can be availed to cater to any of the urgent financial requirements. This includes the purchase of a new house, repayment of any existing loans, education, marriage or business activity, and so on. The loan should be repaid within 120 months.

viii. Gold Jewel Loan

The gold jewel loan is offered against gold jewelry. This loan is the easiest and the quickest way to procure funds for various activities. Every individual can avail of this loan.

ix. Clean Loan

This is an all-purpose loan that can be avail to fulfill various financial goals. Marriage, education, medical, business, repairs, renovation are some of the purposes that qualify to sanction a clean loan. Only salaried individuals are permitted to avail of this loan. The repayment should be completed with a minimum of 32 EMIs.

x. Solar Loan

This loan is sanctioned to meet the installation and the maintenance of electrical power, solar panels, etc. Solar panels are the source of renewable energy that is the need of an hour. Thus, its installation is mandatory for our society today. It facilitates the purchase of rooftop solar panels and a solar pumping system. Entities including farmers, HUFs, private and public companies can avail of this loan. The maximum duration for the repayment of this loan is 5 years.

xi. Gold Loan

The Pandyan Gold loan provides loans to borrowers against their gold and gold ornaments. To avail of urgent cash disbursement to fulfill their financial needs, only individuals above 18 years can apply for this loan. The people who own gold that can be mortgaged with the bank

Benefits Of Availing Individual Loans From The Pandyan Grama Bank

  • The amount of loan approved is maximum.
  • The tenure for repayment of the entire loan amount is flexible.
  • The bank does not insist on the guarantor.
  • The loan application is processed easily, and the loans are approved quickly.
  • Its interest rate is highly attractive.
  • There are several schemes and discounts available for employees of MNCs.
  • Security is not required for availing of this loan.

How To Apply For The Loans?

The loan application can either be processed online or offline. a. Online Application The online application for the bank’s loans had to fill from the official website of the ICICI bank. First, make sure that you are eligible to apply for the loan. Go to the loans section of the portal fill in the personal and work information. After filling the form, upload the necessary documents. b. Offline Application The offline application for a loan can be submitted by visiting the nearest bank branch. Fill the form applicable for availing the personal. Submit the relevant documents. Then these documents will be processed, and the loan will be approved.

Eligibility Criteria For availing Of The Personal Loans

  • The age limit set for availing of this loan is between 21 and 58.
  • The applicants should be employees of the Central or State government, Public Sector Unions, Private Sector Companies, or other reputed companies.
  • They should be either self-employed or salaried individuals with a good source of income.
  • The minimum years of employment in the current position should be 3 years.

Documents Needed To Apply For The Loan

  • A filled and signed personal loan application form.
  • Passport-sized photographs.
  • Proof of identity like aadhar card, passport, driving license, voter’s card, PAN card, and so on.
  • Proof of income like the latest salary slip with the recent salary certificate.
  • Proof of address like recent electricity bill, telephone bill, credit card statement, or the current house’s lease agreement.
  • Bank passbook has entries of the last 6 months.

2. Agriculture Loan

i. Short-Term Production Loan- KCC

The Short-term Production loan is reserved for individuals from the agricultural sector. The farmers can avail of this loan to meet their expenses that revolve around raising the crops. This includes the cost of seeds, manure, fertilizers, pesticides, irrigation, and labor charges. To become eligible, the farmers should not avail of loans from any other source. The tenure for repayment is not more than 5 years. But this tenure can be renewed one year at a time.

ii. Produce Marketing Loan

This loan also caters to the financial requirements of the farmers. It can be availed to meet the expenses like a warehouse, godowns, or cold storage receipts. This loan can also provide relief to the farmers as it enables them to get a remuneration price. All the farmers can avail themselves, including Self Help Groups (SHGs) or Joint Liability Groups (JLGs). The tenure for repayment may vary as per the scheme.

iii. Farm Mechanization Loan

This loan provides financial stability to the farmers. Especially for purchasing the mechanical amenities needed for farming. New tractors and other agricultural necessities are purchased by availing of this loan. Any farmer can avail of this loan provided he and his family owns agricultural land of around 4 acres. The area of land owned can be subsided, provided the farmers have a good credit history. The maximum time for the repayment of this loan is around 5 to 7 years.

iv. Land Development And Irrigation Loan

This loan is intended to meet the costs involved in irrigation and the fertility of the soil. Land leveling, provision of the drainage network, and soil reclamation are soil and water conservation methods pre-requisites for procuring good crops. The loan is restricted only to farmers who do not have any pending debts. The debts should not be pending in the Grama bank and from other financial institutions. Leaseholder and owner cultivators can also avail of this loan. The maximum period set for the repayment of this loan is 9 to 15 years.

v. Poultry, Dairy And Sheep/Goat Loan

Any farmer or individuals, co-operative societies, or companies can avail of this loan. It can be used to set up any poultry, dairy, or a business in animal husbandry. The various purposes for availing of this loan are the establishment of farms. These farms may be for commercial egg production and commercial broiler production. A shed for the milch animals can also be constructed through the money from this loan. Dairy equipment can be purchased. Hatchery used for the production of chicks of egg-type or broiler-type can be established. The borrowers should fulfill some criteria to avail of the benefits under this loan. The farmers with a technical advantage in poultry farming are prioritized. They should also possess the necessary infrastructure to conduct these activities. Experience in this domain of agriculture is also a must. Thus, the financial institution is deemed to conduct a thorough profile check. The profile check is completed before approving the loan. The maximum period allocated for the repayment of this loan is 6 to 7 years.

3. Small Medium Enterprises Loan

The small-medium enterprise loan is used to meet the financial needs of traders and the MSME community. The capital expenditures and the working capital requirement can be met by availing of this loan. Traders from the service industry owning a small or a medium scale business can avail of this loan. The maximum period allocated for repaying the entire loan amount is 5 to 7 years.

4. Group Loan

i. Self Help Group Loan (SGH)

The self-help group loans are used to provide financial assistance to the poor in every area. This would enable them to raise their standard of living and income levels. This loan can be availed only by the members of the SHG. The members of a group should not be members of any other group. They should not have accounts in any financial institutions other than this bank. All the members of the group should divide the loan money among themselves. They should also abstain from lending more money to a single individual. The maximum EMIs payment granted for a term loan is 60.

ii. Joint Liability Group loan (JLG)

This loan is specified for undertaking activities from the farm and non-farm sectors. The group should comprise 4 to 10 members. These members should belong to the same socio-economic background. Small farmers, marginalized farmers, tenant farmers, macro entrepreneurs, and artisans in the non-farming sector are eligible for this loan’s benefits. The maximum period allocated for the repayment of the term loan is 60 EMIs.

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Services Provided By Pandyan Grama Bank

1. Payments

i. National Electronic Funds Transfer (NEFT)

NEFT is a payment system that is widely used in our country. This payment system facilitates the one-to-one transfer of funds to or from any of the Pandyan Grama Bank accounts. The funds can be transferred or received between any two accounts in the same or different banks. These transfers are processed in batches for a half-an-hour every working day. How does a national electronic funds transfer work? To transfer funds through the NEFT, the individuals have to fill a form called BPO/DD/NEFT/RTGS. This application form should be duly filled with the details mentioned below: a. Name of the person to whom the money has to be transferred. b. The account number of the recipient of the fund’s transfer. c. The bank’s name, along with the branch and the IFSC code of the bank. d. The amount that has to be transferred.

ii. Real-Time Gross Settlement (RTGS)

The real-time gross settlement involves the settlement of funds on an individual level. In RTGS, an amount starting from Rs.2 lakh can be continuously transferred to any individual RTGS account. The maximum amount that can be transferred through RTGS is Rs. 25 lakh. The funds can be transferred to different bank accounts maintained in different banks. How does a real-time gross settlement work? The procedure to transfer funds using this method is the same as that of NEFT. Customers who wish to transfer funds through RTGS have to fill an application form. The form BPO/DD/NEFT/RTGS should be duly filled with all the necessary details below: a. Name of the person who should receive the funds. b. The account number of the recipient. c. The name of the bank, branch, and the IFSC code of the bank. d. The amount that needs to be transferred also has to be specified.

iii. National Automated Clearing House (NACH) & Mandate Management System (MMS)

The National Automated Clearing House system is an initiative by the NPCI. It was introduced to promote interbank transactions. These transactions may either be debit or credit based which. They are continuously transferred in the electronic mode. The NACH is an improvised version of Electronic Clearing Services (ECS). It has made it to the national level. The Mandate Management System enables banks to process transactions. It directs banks to acknowledge and register the instruction put forth by customers to debit the amount from his account with another through NACH. After the other bank recognizes the transfer, a unique number called the Unique Mandate Reference Number (UMRN) is allocated. Based on the UMRN, the bank claims the other bank’s funds and credits it to the customer. Features And Benefits a. With the assistance of NACH, the payment of utility bills is subsided. Now customers can remit their telephone, electricity, and other bills through the NACH. b. The account holders of the Tamil Nadu Grama Bank may have availed of loans from this bank. But if they maintain the salary amount with another bank, they can repay the installment amount with great ease. c. The activation time for the mandate is minimal. d. The mandate information is processed and exchanged electronically. It is done with defined timelines for confirmation. How Does It Work?
  • The customers with bank account in different banks can transfer their funds to the Pandyan Grama Bank account. This is achieved by submitting a mandate to the Grama Bank.
  • The bank will claim the recognition of the mandate. The amount will be transferred to the intended account in the Grama Bank at the time allotted.

iv. Aadhar Enabled Payment System (AEPS)

These services are provided by the NPCI (National Payment Corporation of India). This means of payment permits online transactions by using Aadhar authentication. Only customers with accounts linked to the Aadhar card can use this mode of payment. Features And Benefits a. These accounts can be opened with the help of e-KYC b. This system is enabled by Aadhar authentication. Thus, it permits the disbursement of government entitlements like MGNREGA, Handicapped Old Age Pension, social security pension, and so on. c. The banking correspondent delivers the disbursement at the doorsteps of the old-age pensioner. How Does It Work? The customers can use their Aadhar authentication to make transactions of up to Rs.10,000. The bank’s transactions, like balance inquiry, cash deposit, cash withdrawal, and Aadhar to Aadhar transfer of funds, are covered through AEPS.

v. Aadhar Payment Bridge System (APBS) & Direct Benefit Transfer (DBT)

The Aadhar payment bridge system is another initiative by the National Payment Corporation of India. This system uses the Aadhar number as the key. It can electronically channelize the government; individuals with Aadhar Enabled Bank Accounts can enjoy various government subsidies. To avail of these subsidies, the Aadhar number should be linked to the account of the individual. The direct benefit transfer transfers the subsidies directly to the bank accounts of the individual. Direct transfers have numerous benefits, such as minimal leakages and delays during every government transaction’s disbursement.

2. ATM Services

i. RuPay PMJDY Card

This card is generated only on an account’s opening under the scheme Pradhan Mantri Jan Dhan Yojana (PMJDY). Thus, all the applicants who have availed of the benefits under this scheme are eligible for this card. Features and benefits. a. The limit for transactions is set as follows: For ATM transaction, the maximum amount that can be withdrawn in a day is Rs.10,000 For online payments, the maximum amount is Rs.10,000 per day On average, the total transactions in a day should not exceed Rs.10,000 b. Cardholders who have made any type of debit card transaction are entitled to benefits. These are covers of almost Rs.1 lakh for Personal Accident Insurance Death and Permanent Total Disability. c. These are several cashback offers that are reserved for the RuPay PMJDY cardholders.

ii. RuPay KCC Card

The RuPay Kisan Credit Card is entitled to the borrowers of KCC. This card enables them to fulfill their short-term monetary requirements for agriculture. Features and Benefits. a. The purchase of agricultural goods like seeds, fertilizers, pesticides can be accomplished using this card. b. The limit for transactions is set as follows: For ATM transaction, the maximum amount that can be withdrawn in a day is Rs.10,000 For online payments, the maximum amount is Rs.10,000 per day On average, the total transactions in a day should not exceed Rs.10,000 c. Cardholders who have made any type of debit card transaction are entitled to benefits. These are covers of almost Rs.1 lakh for Personal Accident Insurance Death and Permanent Total Disability. d. These are several cashback offers that are reserved for the RuPay KCC cardholders.

iii. RuPay Gold Card

All the savings bank account holders can use the RuPay Gold card. Features And Benefits a. The purchase of agricultural goods like seeds, fertilizers, pesticides, and so on can be accomplished using this card. b. The limit for transactions is set as follows: For ATM transaction, the maximum amount that can be withdrawn in a day is Rs.25,000 For online payments, the maximum amount is Rs.40,000 per day. On average, the total number of transactions in a day should not exceed Rs.40,000 c. Cardholders who have made any type of debit card transaction are entitled to benefits. These are covers of almost Rs.1 lakh for Personal Accident Insurance Death and Permanent Total Disability. d. These are several cashback offers that are reserved for the RuPay Gold cardholders.

iv. RuPay Platinum Card

The RuPay Platinum Card is only available for the premium account holders. An account holder of the Grama Bank is classified as a premium account holder when he manages to maintain a minimum balance of Rs.3,000 at any given time. These cardholders are entitled to enjoy lucrative benefits. Features And Benefits a. Upon activation of the platinum card, there are Rs.500 Croma discount vouchers. b. The Apollo Pharmacy stores give up to 15% benefits on purchases using this card. c. The merchant’s fund cashback upon making wallet recharges. d. At the Domestic Airport Lounge, they provide free services for 8 out of 32 visits. e. Moreover, it enables two free visits at any of the 500+ International Airport Lounges across 98 countries. f. Cashback of up to 5% can be availed on the payment of utility services. These include mobile, DTH, electricity, water, and other bill payments. The deduction is availed when the total bill amounts to nothing less than Rs.50.

3. Others

i. Safe Deposit Locker

The provision of safe deposit lockers is existent in many branches of this bank. Every branch sets the details about these lockers. Hence, they will be different in every branch bank. This facility permits the bank customers to keep their important entities in the lockers. The lockers are safe and secure as they are kept in a special, strongly enclosed building. They restrict the entry of any individual without valid identification, thus protecting its customers’ valuables. Features And Benefits a. The lockers come in different sizes that meet the needs of every customer. b. These lockers can be availed by a single individual or together. c. The rent for the lockers availed under this facility is charged annually.

ii. Aadhar Seeding

Aadhar seeding means the linking of a bank account with the Aadhar card. By doing so, the account holders are eligible for several government subsidies. Features And Benefits a. Aadhar seeding has enabled the government to differentiate between real and fake accounts. Thus, the government has eradicated millions of fake accounts. Thereby removing the beneficiaries of several government schemes. b. The Aadhar seeding is mandatory if the account holders wish to claim the following: c. Direct Benefits Transfer: the presence of an Aadhar linked bank account is crucial while availing of a subsidy on the LPG cylinder. The subsidy amount from the LPF gas is directly remitted to this account. The consumer should also ensure that the LPG consumer number is linked to that account. d. Subsidy for commodity products: the Aadhar seeding also enables the account holders to receive the subsidy for various products. These are commodity products such as sugar, rice, pulses, and so on. e. Mahatma Gandhi National Rural Employment Guarantee (MGREGA): the salary earned by the workers registered under this scheme will be directly credited to the Aadhar seeded account. f. Scholarship: students who have been awarded scholarships should necessarily hold an Aadhar linked account as the scholarship money will be directly credited to this account. g. Social Security Schemes: the benefits from this scheme, including OAP, are credited only to the Aadhar enabled accounts. So, unless the account holder has linked their accounts with Aadhar, they will not be able to avail of these facilities. Thus, Aadhar has become an essential feature in banks and other central facilities.

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Financial Inclusion

1. Pradhan Mantri Jan Dhan Yojana (PMJDY)

This scheme was launched to provide financial access to every Indian national. Therefore, the Grama bank has been actively living up to its responsibilities to the government of India. To date, lakhs of accounts have been opened since 31st March 2019 Features And Benefits a) The is no minimum limit set to maintain in the account. b) A cover of Rs.1 lakh is provided as accidental insurance. c) The money can be easily transferred across India. d) The applicants have access to insurance products and pension. e) After 6 months, the overdraft facility will be activated. Provided the account is well operated. f) The Direct Benefit Transfer will be transferred for the recipients of government schemes.

2. Atal Pension Yojana (APY)

The APY is a pension scheme by the Pension Fund Regulatory and Development Authority (PFRDA) Features And Benefits a) In this scheme, the applicants have to contribute periodically. This pension plan has a monthly assured amount ranging from Rs.1,000 to Rs.5,000 b) The monthly amount that may be received by the applicants ranges from Rs.1,000 to Rs.5,000. The monthly amount will be generated after the person retires until he retires. c) Once the applicant expires, the amount will be credited to his spouse’s bank account. The spouse will continue to receive this amount until his death. d) After the applicant and his spouse’s demise, the nominee will receive the monthly pension amount. e) The premium for this pension scheme may be paid through monthly, quarterly, or half-yearly modes.

3. Pradhan Mantri Suraksha Bima Yojana (PMSBY)

The PMSBY is an insurance scheme that ensures the premium payment at a minimal rate. Thus, individuals who earlier found it difficult to get an insurance cover can easily do so. This scheme offers insurance covers for accidental death and disabilities in case of death or accidents. Features And Benefits a) The premium payment is only Rs.12 per annum for every member. b) This scheme is only eligible to individuals between the age group of 18 to 70 years. c) The risk coverage under this scheme is Rs.2 lakh for accidental death and Rs.1 lakh for disability.

4. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

The PMJJBY is also an insurance scheme. It provides a life insurance cover of Rs.2 lakh. The periodic premium payment for this scheme is Rs.330 per annum per member. It is renewable every year. This scheme can only be availed by individuals between the age group of 18 to 50 years, holding a bank account. The insurance cover under the scheme is Rs.2 lakh if the insured person dies due to any reason.

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Conclusion

The Pandyan Grama Bank has been serving the locals of Tamil Nadu since 1977. It is one of the most famous banks that have branches in 18 districts in the southmost state. The customers have greatly appreciated their services. Thus, the Best Performance award was bestowed upon this bank by the National Bank for Agriculture and Rural Development (NABARD). The banks offer several amenities for meeting the financial requirements of every individual. It has different types of accounts that are suitable for individuals with additional needs. Customers who wish to park their funds for the short-term can invest in the savings account. Others who will not require their funds for a period can lock their money in fixed deposits. Individuals wishing to avail of better returns can reinvest their money. Loans are the lifeline of every working individual. These enable us to make our purchases come true. At the Pandyan Grama Bank, several loans are designed to meet the requirements of every individual. From education to marriage, every stage of our life has been covered by these loans. Hence, the customers should maintain a good credit score and make their EMI payments on time. The repayment is very flexible. But the borrowers should constantly track their debt and make sure that the debt doesn’t rise. Payment, ATM services, and several insurance schemes are also available for the customers. Electronic payment systems have made our lives easier. Through this mode of payment is hassle-free and ensures quick transfers. The ATM cards are also given to the eligible account holders. These cards make immediate transactions feasible and help the customers to meet short-term monetary requirements. And finally, the financial schemes provide insurance covers. These covers are essential in case of untoward situations. They guarantee a maximum cover of Rs.2 lakh for accidental deaths. The Pandyan Grama Bank is indeed one of the greatest banks in Tamil Nadu. It is a boon for the locals who can avail of these benefits. It has maintained a good reputation in the financial sector. I hope it continues to work towards the upliftment of the rural areas. And strives towards the betterment of society with dedication and enthusiasm. NABARD Indian Overseas Bank Ministry of Finance © PGB, All Rights Reserved. Views: Powered By: Pandyan Grama Bank ITD.