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 offer financial assistance to the eligible ‘A’ rated groups
Eligibility: All the eligible ‘A’ rated groups shall be considered for financial assistance adequately basing on the Micro Credit Plans
Rate of Interest: The interest rate shall be 14% p.a. irrespective of the quantum of the loan; In case of groups where the financial assistance is Rs.1.00 lakh and above, the repayment period shall be 60 months
Security: The assets created out of the financial assistance shall be the security. The decisions of the State Level Bankers’ Committee (SLBC) to be adopted from time to time
Repayment: The minimum repayment period shall be 24 months