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: For meeting out the general credit needs of the customers of small means, without insisting on purpose and end use of the credit
Eligibility: Customers with repaying capacity
Quantum of Loan: The loan amount is limited to Rs.25000/
Rate of Interest: 13%
Others: NABARD has given detailed guidelines of the scheme. This facility is in the nature of over draft or cash credit. This should be used