The Bank was established by amalgamating four regional rural banks sponsored by State Bank of Hyderabad. The banks that were amalgamated are 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).This group has 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 can be availed for any personal purposes and needs.
Eligibility: Any pensioner below 70 years of age is eligible for this loan.
Quantum of Loan: 12 months pension is the maximum amount granted as personal loan. This is subject to a maximum upper limit of Rs.50,000/-.
Repayment: The loan has to be repaid within 48 equated monthly installments.