The Bank was established by amalgamating four RRB’s 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 over mortgage of immovable property.
Eligibility: This personal loan is for people other than agriculturalists.
Quantum of Loan: The quantum of loan varies from Rs. 1 lakh to Rs. 10 lakh. 50% of the market value/ realizable value of the property, taking into consideration 3 years annual income of the applicant is granted as loan.
Repayment: The loan has to be repaid in 84 equated monthly installments or on cash credit subject to annual review within 3 years.