The Bank was established by amalgamating four regional rural banks sponsored by State Bank of Hyderabad, viz. 1) Sri Saraswathi Grameena Bank, Adilabad 2) Sri Satavahana Grameena Bank, Karimnagar 3) Sri Rama Grameena Bank, Nizamabad and 4) Golconda Grameena Bank, Ranga Reddy (Hyderabad) with an aggregate net work of 215 branches.
The area of operation of the Bank covers the districts of Adilabad, Karimnagar, Nizamabad, Hyderabad and Ranga Reddy districts of Andhra Pradesh. The paid-up capital is Rs.4 crores which is contributed by Government of India, Sponsor Bank i.e. State Bank of Hyderabad & Government of Andhra Pradesh in the ratio of 50: 35: 15 respectively.
Purpose: This loan provides finance for individuals for various needs.
Eligibility: Any individual with sufficient repayment capacity can avail this credit scheme from the bank.
Quantum of Loan: The maximum amount granted as loan to credit is Rs. 25,000/-.
Repayment: The credit is extended for a term of 3 years subject to an annual review. There are easy and convenient repayment schedules for this personal loan.