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 finance traders/small business men who intend to avail working capital term loans instead of cash credit finance
Eligibility: Traders, small business men with repaying capacity
Quantum of Loan: Need based
Rate of Interest:
| Particulars | ROI in % |
| Up to & inclusive of Rs.50000/- | 13.00 |
| Above Rs.50000/- & Up to & inclusive of Rs.1.00 lakh | 13.50 |
| Above Rs.1 lakh & Up to & inclusive of Rs.2.00 lakhs | 14.00 |
| Above Rs.2.00 lakhs | 15.00 |
Security: The security is, up to Rs. 1 lakh- hypothecation of the stock-in-trade; above Rs.1 lakh- hypothecation and mortgage. The security coverage shall be 150% of the loan. The borrower’s contribution will be 25%
Repayment: The repayment period will be 60 months