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 cater the needs of the Doctors with liberalized terms and conditions
Eligibility: All the Doctors / Medical Practitioners registered with the National Council of Medical Practitioners with minimum qualification of MBBS / BAMS / BDS / BHMS are eligible
Quantum of Loan: Financial assistance up to Rs.50.00 lakhs will be extended for all types of credit requirements such as construction / expansion of hospital building, purchasing of all types of Medical equipment, Vehicles etc. The credit facilities extended up to Rs.5.00 lakhs under the scheme shall invariably be covered under CGTMSE and as such collateral security / third party guaranty should not be obtained
Rate of Interest: 10%
Repayment: The loan shall be repayable in 7 years, in equated monthly installments (inclusive of moratorium period)