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. 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: The loan is extended for meeting any productive purpose / consumption needs other than speculation with per party limit up to Rs.1.00 lakh
Eligibility: All the customers of the branch, who are having SB/Current Account are eligible for coverage under the scheme
Quantum of Loan: Per gram lending rate is Rs.1,550/- on the net weight of the ornaments or 75% of the market value (80% for hall marked jewels) whichever is less
| Scheme | Per gram lending Rate |
| Pragathi Agri Gold Loan | Up to Rs.1, 550/- per gram on the net weight or 75% of market value (80% for hall marked jewels) whichever is less. |
| Pragathi General Gold loan / Pragathi Swarna Credit Card. | Up to Rs.1, 500/- per gram on the net weight or 75% of market value (80% for hall marked jewels) whichever is less. |
| Pragathi Bullet Gold Loan. | Up to Rs.1, 550/- per gram on the net weight or 75% of market value (80% for hall marked jewels) whichever is less. |
Per gram lending rate of gold for granting various schemes of Gold loans as under
Rate of Interest: 13%; overdue interest at 2.25% over the normal rate shall be charged on the overdue loan amount
Security: The loan is secured against security of gold ornaments, Gold coins with 22 carat and above purity
Repayment: The loan amount along with interest shall be repaid within 12 months from the date of sanction