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 the purchase of houses / sites to construct a house/ repair or renovation of old house
Eligibility: Salaried/business men/ self employed
Quantum of Loan: Maximum loan amount of Rs.20.00 lakhs under Priority and above Rs.20.00 lakhs up to Rs.50.00 lakhs in Non-priority subject to 85 % of the estimated construction cost/valuation of ready built house will be considered under the scheme
For repairs/renovations also, we will consider loans up to Rs.2.00 lakhs in municipal areas and Rs.1.00 lakh in other areas
Security: Security is mortgage of the site and building to be constructed thereon