Andhra Pradesh Grameena Vikas Bank is a Regional Rural Bank established in 2006. It was formed under Parliament Act by the merger of Sangameshwara Grameena Bank, Manjeera Grameena Bank, Kakatiya Grameena Bank, Nagarjuna Grameena Bank and Sri Visakha Grameena Bank.. The Bank provides an array of banking services and products to both retail as well as corporate customers. Read on to understand the various banking services provided by the Bank.
Different Types of Products and Services Provided by the Andhra Pradesh Grameena Vikas Bank
The different products provided by the Andhra Pradesh Grameena Vikas Bank are:
- Andhra Pradesh Grameena Vikas Bank Deposits
- Andhra Pradesh Grameena Vikas Bank Loans
- Andhra Pradesh Grameena Vikas Bank Cards
- Andhra Pradesh Grameena Vikas Banking Services
Andhra Pradesh Grameena Vikas Bank Deposit Accounts
Andhra Pradesh Grameena Bank has deposit accounts for individuals, businesses, organisations, as well as Non-Resident Indians. You can choose the category of deposit accounts according to your needs. The various categories of deposit accounts in APGVB bank are:
- Savings Bank Account
- Current Account
- NRI Account
- Fixed Deposits
Savings Bank Account
With a Savings Bank Account, you will be able to deposit and withdraw amounts as per your necessity. The features of APGVB Savings Bank Account are
- Eligibility: All individuals singly or jointly, professionals, Associations, Clubs, Charitable Trusts, and Government Bodies formed under specific acts.
- Minimum Balance: Rs. 500 in Rural Areas, Rs. 1000 in Semi-urban areas, and Rs. 2000 in Urban/Metro areas
- Benefits: Cheque book facility, free Net Banking and Mobile Banking, SMS Alerts, and nomination facility
Current Accounts
Current Deposits are mainly for business transactions. The features of the APGVB Current Account are:
Eligibility: Individuals jointly or singly, businesses, organisations, professionals, trusts, clubs, and government bodies formed under specific acts can open the account.
Benefits: No restriction of number of transactions. Cheque book facility provided. Free Internet Banking, Mobile Banking, and SMS Alerts provided. Nomination facility available
NRI Deposits
The features of NRI deposits are:
- Mainly meant for Non-Resident Indians, foreign students studying in India, and foreign tourists who have come on a short visit to India.
- These deposits can be opened by Non-Resident Indians, Persons of Indian Origin, and Overseas Citizens of India.
- The Andhra Pradesh Grameena Vikas Bank Interest Rates for NRI accounts are similar to the rates applicable to domestic accounts.
Andhra Pradesh Grameena Vikas Bank Cards
Andhra Pradesh Grameena Vikas Bank provides ATM debit cards upon opening a savings bank and current accounts in the bank. You can use the card for cash withdrawal at ATMs as well as for POS transactions at merchant establishments. Online transactions are also possible with the card.
The bank issues international debit cards which can be used to withdraw amounts in NRE accounts at ATMs.
Andhra Pradesh Grameena Vikas Bank Loans
The Bank has various loan schemes for varied purposes to cater to the requirements of its customers. They are as listed in the table below
Type of Loan | Primary Features |
Housing Loan to Public | Provided for the purchase/construction of a housethe purchase of a flathe purchase of a plot and construction thereonFor renovation and expansion to the existing propertyIndividuals above 18 years with regular income can applyLoan amount: Depends on the project cost and repayment capacity |
Housing Loan to Rural Areas | For construction and purchase of a house in rural areasApplicant between 18 to 50 years eligibleAll farmers, artisans, members of SHG, entrepreneurs, etc are eligibleLoan amount: Maximum 5.00 lacs for construction and Rs. 2.00 lacs for renovation |
Housing Loans to Realty | For purchase of a plot within Municipal Corporation Area and construction thereonMinimum area of land: 100 sq yards |
Education Loan | To pursue higher studies inland and abroadShould have got admission for higher studies in recognised institutions in India/Abroad |
Personal Loans | Home Loan borrowers and salaried individuals are eligible for the loanAmount: Minimum Rs. 2.00 lacs and maximum Rs. 30.00 lacs for home loan borrowers. Minimum Rs. 50000 and maximum Rs. 20.00 lacs for salaried individualsFor any personal need except speculationTenure: 5 years for salaried individuals |
Auto Loans | Provided for the purchase of new/used cars, two-wheelers, e-rickshaw, transport operators and elite vehiclesLoan Amount: Maximum Rs. 25.00 lacs for new and used cars. Minimum Rs. 25000 for two-wheelers, maximum Rs. 5.00 lacs for e-rickshaws, Rs. 50.00 lacs for transport operators, and Rs. 15.00 lacs for elite vehiclesRepayment: 7 years for cars, 5 years for two-wheelers, and elite vehicles, |
Gold Loans | Against pledge of gold ornamentsMaximum Rs. 2.00 lacs with repayment period 1 year or bullet paymentMaximum Rs. 10.00 lacs under Vikas Jewel loan with a tenure of 3 years |
Loan against deposits | Against security of fixed depositsLoan amount: 70 to 85% of the value of deposit |
Andhra Pradesh Grameena Vikas Bank Investment Options
Andhra Pradesh Grameena Vikas Bank provides a safe and secure investment option i.e. investment in fixed deposits. You can earn higher interest rates with an option of crediting the interest to your account either on a monthly or quarterly basis. The features of the fixed deposit are:
- Period of the deposit can be between 7 days to 10 years.
- Can withdraw amount only on maturity.
- Premature withdrawal permitted with a penalty
- Loans against deposits provided to meet urgent requirements.
- All customers with valid KYC documents can open the account.
- The Andhra Pradesh Grameena Vikas Bank interest rates range from 2.90% to 7.35% depending on the period
- The Andhra Pradesh Grameena Vikas Bank Interest Rates for deposits held by senior citizens will be 0.50% above the normal applicable rates.
Andhra Pradesh Grameena Vikas Bank Banking Services
Andhra Pradesh Grameena Vikas Bank provides the following services
Digital Banking
The Andhra Pradesh Grameena Vikas Bank Net Banking and Mobile Banking services will be provided to conduct various banking activities like funds transfer to accounts within the bank and other banks, request cheque books, balance enquiry, downloading account statements, managing debit cards, etc in the comfort of their homes. These services are available outside banking hours and 24 x 7.
Under mobile banking, you can get the balance of your account by giving a missed call to the Andhra Pradesh Grameena Vikas Bank Balance Enquiry Number 9289222024.
You can also get your account balance by calling the toll-free Andhra Pradesh Grameena Vikas Bank Balance Enquiry Number 18001210354.
Whatsapp Banking
You can get the balance of your account, mini statement, account statement, and location of APGVB banks near you just by sending a Whatsapp message to the Whatsapp number of the bank 9346200400
Locker facility
You can hire lockers by paying a nominal annual rent for safe custody of important documents and valuable articles.
Andhra Pradesh Grameena Vikas Bank Customer Care
You can reach out to APGVB Customer Care through various channels
- Call the Andhra Pradesh Grameena Vikas Bank Customer Care number 0870-2577769 for any queries. The services are available between 10.00 AM and 5.00 PM
- You can Twitter at https://twitter.com/APGVB_HO for any issue and it will be resolved
- You can reach the customer care official through Facebook at https://www.facebook.com/APGVB.Official
- You can also call the toll-free Andhra Pradesh Grameena Vikas Bank Customer Care number 1800-121-0354 during working hours i.e., 10 AM to 5 PM.