Andhra Pragathi Grameena Bank came into existence from 1.06.06 by amalgamating Rayalaseema Grameena Bank, Sri Anantha Grameena Bank and Pinakini Grameena Bank consequent upon the Government of India Notification dt.1.6.06. The Bank is constituted under Regional Rural Banks Act 1976. The Bank is having its Head Office at KADAPA with a jurisdiction of 5 districts namely Kadapa, Kurnool, Ananthapur, Nellore and Prakasam.
It offers special loan schemes to farmers. Its credit basket includes agricultural loans, loans to farmers, produce loans, priority sector loans, non- priority loans, education loan, home loan, personal loans etc.
Purpose: To offer financial assitance to the customers for the purpose of agricultural operations
Eligibility: Famers with repaying capacity
Quantum of Loan: Maximum Rs.2 lakhs per borrower
Security: Gold
Repayment: Repayment period is one year after arranging the loan based on the agricultural seasons
Others: The per gram lending rate is Rs.1500/- on the net weight of the ornaments or 75% of the market value of the ornaments as on the date of arranging the loan, whichever is less. All the prudential norms applicable to the Pragathi KCC will also applicable to these loans