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 can be availed for any personal needs of an individual.
Eligibility: Any permanent employees of government / PSU & reputed organizations are eligible for this personal loan.
Quantum of Loan: The maximum amount that could be granted as loan is Rs.5 lakhs. 12 months net income for salaried employees / 18 months of net income for Singareni Employees is granted as loan.
Repayment: the repayment of the loan has to be done within 60 monthly installments. The post dated cheques need to be submitted to the bank at the time of sanction of loan.