Madhyanchal Gramin Bank

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Madhyanchal Gramin Bank

Madhyanchal Gramin Bank is a nearby rural financial institution in India. It is under the possession of the Ministry of Finance, Government of India. It altered its previous identity after being constructed by merging 3 rural banks within Madhya Pradesh in India. These banks are Madhya Bharat Bank, Sharda Grameen Bank, Rewa Sidhi Grameen Bank, subsidized through State Bank Of India, Allahabad Bank and Union Bank of India. Its headquarters is in Saugor. There are 454 departments and seven nearby places in Rewa, Sidhi, Satna, Damoh, Shivpuri, Chhatarpur and Tikamgarh. The current sponsor of the financial institution is the State Bank of India. Madhyanchal Gramin Bank has a reach over thirteen districts in Madhya Pradesh like:

  • Damoh
  • Sagar
  • Shivpuri
  • Guna
  • Ashoknagar
  • Tikamgarh
  • Chhatarpur
  • Panna
  • Satna
  • Rewa
  • Sidhi
  • Niwari 
  • Singrauli 

Madhyanchal Gramin Bank Offerings

Madhyanchal Gramin Bank has a lot to offer you as per your requirement. So visit the bank branch to know about all the details of the facilities and schemes.

  • Savings Account
  • Fixed Deposits
  • Fixed Deposits
  • Loans
  • Personal Loans
  • Online Banking
  • RTGS
  • NEFT
  • IMPS
  • Atal Pension Yojana
  • Pradhan Mantri Jandhan Yojana
  • Pradhan Yojana Suraksha Bima Yojana
  • Pradhan Mantri Jeevan Jyoti

Madhyanchal Gramin Bank Loans Offered

You will be offered all types of loans in Madhyanchal Gramin Bank like personal loans, gold loans, car loans, education loans, two-wheeler loans, etc. Some of the types of loans provided are as follows:

  • Easy EMI Consumer Loans
  • Car Loans
  • Loan on Credit Card
  • Two- Wheeler Loans
  • Business Loan
  • Home Loan
  • Educational Loan
  • Rural Loans
  • PM Mudra Yojana
  • Flexipay

Madhyanchal Gramin Bank Gold Loan

Gold Loan is what we get when we have the gold of the prescribed quality and quantity. Generally, Banks offer 75% value of the amount of gold offered to them as collateral security, which is called the LTV ratio. Therefore, the gold loan can be used to meet the short-term financial problems of a family or individual. The documents required for applying for the gold loan are listed below :

Photographs 2 Passport Size
Identity Proof Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Residence Proof Aadhar Card, Driving License, Ration Card, etc. In Rented House, the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)

Madhyanchal Gramin Bank Personal Loan

A Personal Loan helps you get your desired sum without pledging any article. The perk of getting a personal loan is that you have to pledge nothing against the loan amount taken. But on the other side, a personal loan attracts more interest than the secured form of a loan. The eligibility criteria for a personal loan are as follows:

CIBIL Score Criteria 750 and Above
Age Criteria 21-60 years
Income Criteria ₹ 25000/month
Occupation Criteria
  • A person could be self-employed or a job holder. But the income needs to be ₹ 25000 a month.
  • The applicant’s minimum age needs to be 21 years, and the maximum could be 60 years.
  • The credit score should be as high as 750 and more.

Madhyanchal Gramin Bank Car Loan

If you are planning to buy a car and don’t have an adequate sum of money, you can get a car loan. In a car loan, the car itself serves as the collateral. Here are some reasons why you should take a car loan:

  • Loan Approval in 30 Minutes
  • Lowest Rate of Interest
  • Up to 100% on Road Loan
  • Minimum Documentation
  • Paperless Process
  • Flexible Repayment
  • Zero Foreclosure
  • 24 x 7 Online Payment Facility
  • No Hidden Charges

Madhyanchal Gramin Bank Home Loan

A house is a lifetime asset that is one of the basic requirements of every individual. Dreaming of building your own house, or buy a plot of land to build it, a home loan is best for you. This attracts low-cost EMIs and therefore does not exhaust your savings. But, first, let’s see the eligibility criteria of a home loan.

Particulars Salaried Individuals Self-Employed Individuals
Age 21 years to 65 years 21 years to 65 years
Minimum Income Rs.10,000 p.m. Rs.2 lakh p.a.
Nationality Resident Indian Resident Indian

Madhyanchal Gramin Bank Credit Card

A credit card helps you shop without any worries until you reach the credit card limit. Bank itself offers a credit card to people with a good bank balance. Now let’s find out what documents are necessary to get a credit card.

Identity Proof

Address Proof

Income Proof

Salaried Individual Self-Employed Individual
  • Passport
  • PAN Card
  • Ration Card
  • Aadhaar card
  • Voter’s ID card
  • Driving license
  • Telephone bill
  • Electricity bill
  • Passport
  • Ration card
  • Rental agreement
  • Aadhaar card
  • Salary certificate
  • Recent salary slip/s
  • Employment letter
  • Certified financials.
  • Recent ITR (Income Tax Returns)
  • Audited profit and loss statement or balance sheet

Madhyanchal Gramin Bank Net Banking

The Madhyanchal Gramin Bank provides online banking services to private and corporate, basically all types of customers. If you want to use the online banking services of this regional rural bank, you can visit the website link This can help you do most bank-related work easily sitting back at home.

Consumers cannot find the online banking registration process at Madhyanchal Gramin Bank. However, all you have to do is go to the nearest branch of Madhyanchal Gramin Bank to fill in the online banking application form.

  • You must fill in all required fields of the application form and submit them to the bank staff along with all necessary documents.
  • You can easily manually activate the online banking function for consumers.
  • After it gets activated, you will get a username and password on your phone.
  • After the Madhyanchal Gramin Bank opens online banking, your registered mobile phone number will also receive confirmation.

Madhyanchal Gramin Bank Customer Care Number

Customers of Madhyanchal Gramin Bank can use the registered mobile phone number to check anytime and anywhere to get the status checked. TOLL-FREE NUMBER(S):
1800 532 7444 (ATM Complaints No.)
1800 833 1004
1800 123 6230
07582-236299 (Head Office)
07582-236020 (Corruption Complaints)

These customer care numbers will be available 24*7.

Madhyanchal Gramin Bank Customer Complaints

What if your bank is not responding when you are facing any issue or have any complaints. What should you do? Where should you go? You can complain straight to a banking ombudsman. The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services covered under the grounds of complaint specified under Clause 8 of the Banking Ombudsman Scheme 2006 (As amended up to July 1, 2017).

How to Open a Savings Account in Madhyanchal Gramin Bank

Banks supply a facility to open a financial savings account as a sole holder or in joint protecting with extra individuals. Joint accounts may also have unique modes of holdings such as ‘Anyone or Survivor’, “Joint”, etc. In the case of joint holding, all of the candidates should grant KYC formalities.

In order to open a financial savings account in Madhyanchal Gramin Bank, you should follow under noted steps:

(1) Personally Visit Madhyanchal Gramin Bank Branch

You have to go to the financial institution where you want to open a Savings Account.

(2) Then you have to fill up the Account Opening Form (AOF) provided to you for your Savings Account.

Obtain the Savings Bank Account Opening Form and top off all of the essential information of the customer’s statistics and various information in the distinct sections bestowed in the prescribed form like name, deal with, contact number, electronic mail id, PAN, type of Account to be opened, nominee’s name, etc.

(3) Attach all the required (Mandatory) Documents as asked by the Bank with the Account Opening Form (AOF).

After filling out the account opening form given to you, you will have to connect KYC files like PAN, Proof of Address & Proof of Identity.

(4) Verification of Account Opening Form (AOF) & Other Documents through the Banker

The banker will confirm the Account Opening Form (AOF) and different connected files. If he’s satisfied with those requirements, he’s going to continue further.

(5) Deposit Minimum Balance Amount for your Savings Account as according to your Savings Account requirement

After verifying the Account Opening Form (AOF) & Other Documents through the Banker, you will be allocated a unique account number. You’ll then be required to deposit the minimal amount required for the stability of your Account according to your financial savings financial institution account type.

(6) Obtain all other adjacent documents like Cheque Book, Passbook, Debit Card & Other Documents from the Bank.

Once your Account is appropriately opened, the banker will provide you with vital Account supporting materials like Cheque Book, Passbook, Debit Card & Other Documents. You can now make transactions from your Account.

How to Open a Current Account in Madhyanchal Gramin Bank

Madhyanchal Gramin Bank is one of the very renowned banks in India with many branches throughout different places that gives you all the benefits offered by the bank at different locations.

The steps involved in creating a current account are as follows:

(1) Visit the Bank Branch

You want to go to the financial institution department in that you need to open your Account.

(2) You also have to properly fill-up the Account Opening Form (AOF) for the Current Account.

Get the Account Opening Form and top off all of the crucial data of the customer’s statistics and various information in the distinct sections given in the form like name, deal with, mobile number, electronic mail id, PAN, type of account to be opened, nominee’s name, etc.

(3) Also you have to attach all the Required (Mandatory) Documents with the AOF.

After filling out the account opening form, you will have to connect KYC documents with your Account if you’re willing to open an Account like a financial savings account, modern Account, etc. These files can even depend on your reputation like Individual, HUF, Proprietor, Partnership Firm, Company, Trust, etc.

(4) Verification of AOF & Other Documents through the Banker

The banker will confirm AOF and different connected files. If he’s satisfied with those requirements, he/ she can continue further.

(5) You will have to also Deposit a Minimum Balance in the Account.

After that you may be allocated an account number, you’re required to deposit the minimal amount for your Account.

(6) After all formalities you will Obtain Cheque Book, Passbook & Other Documents from the Bank.

After that, the banker will give you your Cheque Book, Passbook & Other Documents after which you may be allowed to make the transaction out of your Account.

Madhyanchal Gramin Bank FAQs

Who are the owners of Madhyanchal Gramin Bank?

The Government of India holds 50% shares of the Madhyanchal Gramin Bank, the State Bank of India holds 35% and the Government of Madhya Pradesh holds 15% shares of Madhyanchal Gramin Bank.

When was the Madhyanchal Gramin Bank founded?

Madhyanchal Gramin Bank was founded on 1st November 2012 under the industry of Banking, Financial services.

Where is the headquarters of Madhyanchal Gramin Bank?

The headquarters of Madhyanchal Gramin Bank is situated in Sagar in the state of Madhya Pradesh, in India.