Andhra Pragathi Grameena Bank
WELCOME TO THE WEBSITE OF ANDHRA PRAGATHI GRAMEENA BANK : “Tender for providing Housekeeping & Security Services - Last date for acceptance of Bids(Both technical and Financial Bids) is on 21.09.2017(14.00Hrs) only and opening of Technical Bid is on 21.09.2017(15.30Hrs) only. Please note that for submission of Bid security for Rs.15.00 lakhs by L1 Bidder shall be 26.09.2017”

PRODUCTS & SERVICES DEPOSITS

SAVINGS BANK ACCOUNT

Account can be opened by

A.   Mode

  1. Individuals singly or jointly
  2. Professionals in their individual names.
  3. Clubs, Associations, Charitable trusts, Religions Institutions.
  4. Government bodies established under specific acts.

B.   Rate of Interest: 4.0% per annum on daily product basis.

C.   Minimum initial deposit & minimum balance in the account.

  1. Rs.250/- without cheque book in rural & semi urban branches.
  2. Rs.500/- without cheque book in urban branches.
  3. Rs.1000/- with cheque book in rural & semi urban branches.
  4. Rs.2000/- with cheque book in urban branches.

D.  Nomination facility.

E.   Service charges for non-maintenance of minimum balance in SB account

  1. Rs.10/- + S.T. per month.

PRAGATHI JANATHA SAVINGS BANK ACCOUNT

  1. Eligibility to open the account:
  1.  
    • Except Institutions, Associations, Trusts, Clubs, Societies, all Individuals can open this account, following the extant KYC norms.
  1. Initial/ minimum balance: Zero balance
  2. Rate of interest: As per SB deposit (4.0% P.A at present)
  3. Service charges: No service charges for non-maintenance of balance.

CURRENT ACCOUNT

Eligibility to open the account:

  1. Businessmen, Companies, Industries, Associations who; have occasion to receive and pay amount in cash/ Cheques quite often. These accounts are to be operated by Cheques only.
  2. Minimum initial deposit & minimum balance in the account.
    1. Rs.5000/- in urban and Rs.3000/- in semi-urban/ECs
    2. Rs.2000/- in rural branches.
  3. Interest : No interest (As per RBI guidelines)
  4.   Service charges:
    1. For non-maintenance of minimum balance Rs.50/- + S.T.per month.
    2. Cheque leave charges Rs.3/- per cheque leaf while issuing chequebook.
    3. Ledger folio charges: Rs.60/- per folio. 

FIXED DEPOSIT (FD) ACCOUNT

  1. Eligibility to open: - An Individual - Jointly with one or more persons. - Guardian on behalf of Minor. - Partnership firms, Companies, Associations, Clubs, Charitable Institutions, Trusts etc.
  2. Minimum amount of deposit: Rs.500/- and in multiples of Rs.1/- thereof.
  3. Period: Minimum 7 days and maximum 10 years, 7 days to 14 days period of deposit is applicable to FDs of Rs.10.00 lakhs and above.
  4. Interest: Card interest rates applicable to term deposits (interest rate vary depending on the period of deposit)
  5. Loan facility: Loan facility against the deposit is available.
  6. Other facilities:
  •  
    • Nomination facility
    • Premature closing of deposit
    • Overdue deposits-renewal

PRAGATHI CASH CERTIFICATE

  1. Eligibility to open:
    1. As furnished in Fixed Deposit account scheme.
  2. Minimum amount of deposit: Minimum of Rs.500/- and in multiples of Rs.100/- thereof.
  3. Period: 12 months to 120 months (in completed quarters 12,15,18 so on)
  4. Interest rate: Card Interest rates applicable to term deposits (interest rate varying depending on the period of deposit. Interest will be compounded quarterly and credited to the account on quarterly basis)
  5. Nomination facility available.

NOTE: All other business rules as applicable to Term deposits..


AKSHAYA DEPOSIT (AD)

Special features: Interest on the deposit will be paid on monthly basis/intervals on the discounted value, to meet the monthly requirement of funds by a depositor.

  1. Eligibility to open: As furnished in fixed deposit scheme.
  2. Minimum amount: Minimum deposit Rs.500/- and in multiples of Rs.100/- thereon.
  3. Period: 12 months to 120 months, in completed quarters i.e. 12,15,18,21 so on.
  4. Interest: Card interest applicable to term deposits, Interest shall be calculated and payable at monthly intervals.
  5. Nomination: Nomination facility is available.
  6. Others: If customer desires, interest earned can be re-invested in Recurring Deposit.

“All other business rules as applicable to Fixed Deposit scheme are equally applicable”.


RECURRING DEPOSIT (RD)

This deposit scheme is suitable for salaried persons and other persons who receive monthly income. Deposit shall be made in equal monthly instalments.

  1. Eligibility to open:
    1. Individuals, Singly or Jointly.
    2. Guardian on behalf of Minors.
  2. Minimum amount: Rs.50/- per month and in multiples of Rs.10/- thereof.
  3. Period: 1 to 10 years (in completed quarters)
  4. Interest: As applicable to fixed deposit/term deposits.

“All other business rules applicable to fixed deposit are applicable to this deposit scheme”.


NITYA NIDHI DAILY DEPOSIT (NND)

This deposit scheme is more suitable and useful to the depositors who deal with small business units, service sector, and earn money daily. The Bank’s agent will visit their houses/business places to collect the deposit amount.

  1. Minimum amount of deposit is Rs.10/- and in multiples of Rs.5/- there after.
  2. Period of deposit is 63 months.
  3. Loan facility available against this deposit.
  4. Interest rates applicable to NND Deposit scheme (separately).

PRAGATHI TAX SAVER DEPOSIT

This deposit scheme is introduced on the lines of the Central Government Notification on Bank term depost scheme 2006 for the purpose of sec.80C(2)(XXI) of the Income Tax Act. The amount deposited under this scheme is eligible to claim excemption (upto Rs. 1,00,000/-) under sec.80C of IT Act 1961.

  1. Eligibility to open 
    Individuals, Singly or Jointly 
    HUF are eligible to open the account.
  2. Minimum amount: Rs.100/- and multiples there of upto a maximum of Rs.1.00 lakh in a financial year.
  3. Period: Five (5) years only.
  4. Rate of Interest: As applicable to the fixed deposit/ Term deposits of 5 years period.
  5. Lock in period: The deposit can not be closed prematurely before completion of five (5) years period.
  6. Loan facility: Deposits under this scheme are not eligible for pledge to secure loan or as security to any loan.
  7. Nomination facility available.

PRAGATHI LAKSHADHIKARI(A MONTHLY DEPOSIT SCHEME TO MAKE THE CUSTOMER A LAKHIER)

1

Name of the deposit

PRAGATHI  LAKSHADHIKARI

2

Who can open the deposit

An individual/ jointly with one or more persons etc.

3

Period of Deposit

5 years 3 Months

4

No. of monthly installments

63

5

Amount of Monthly instalment               

Rs.1250/-(Rupees One thousand two hundred and fifty only) 

6

Rate of interest

  1. For General public @ 9.00% p.a.
  2. For Senior Citizens @ 9.75% p.a.
  3. For Staff @ 10.00% p.a. 
  4. Retired Staff on superannuation @10.00% p.a.

7

Date of Maturity

One month after the last instalment has been paid or  on the expiry of the period for which the deposit was  accepted , whichever is later, irrespective of whether  last instalment is paid with penalty in subsequent  month.

8

Loan on deposit                                      

LD can be considered by maintaining the margins as prescribed by the bank.

9

Nomination facility                           

Available

10

Premature closure                                

permitted as per existing rules    


PRAGATHI KANAKAVARSHA 500

1

Names of the product

PRAGATHI KANAKAVARSHA  500

2

Date of introduction

12.10.2009

3

Amount of deposit

Minimum amount of Rs.5000/-, with multiples of Rs.500/-

4

Term/period of deposit

500 days

5

Rate of interest

9.25% p.a.

6

Payment of interest

Interest will be compounded on quarterly basis.

7

Additional interest

A)Senior citizens are eligible for 0.75% additional interest over and above the card rate. 

 

 

B) Staff members are eligible for additional rate 1.00% p.a. over and above the card rate for public.

 

 

C) Retired staff members  are eligible for additional rate of 1.00% above card rate.

8

Nomination Facility

Nomination facility available under this scheme in the case of other deposits

9

TDS

Interest income is liable for tax as per the  IT Act.

10

Automatic Renewal Facility

Automatic renewal facility is not available.

11

Loans on Deposit

The depositor can avail loan on this deposit as per  the rules of the bank.

12

Premature Closure

The deposit can be closed before   maturity.  Prevailing rules for premature closure,  penal cut etc., are applicable.


PRAGATHI UJWALA

1

Names of the product

PRAGATHI UJWALA

2

Date of introduction

27.08.2010

3

Amount of deposit

Minimum amount of Rs.500/-, with multiples of Rs.100/-

4

Term/period of deposit

750 days

5

Rate of interest

9.00% p.a.

6

Payment of interest

Interest will be compounded on quarterly basis.

7

Additional interest

A)Senior citizens are eligible for 0.75% additional interest over and above the card rate. . 
B) Staff members are eligible for additional rate 1.00% p.a. over and above the card rate . 
C) Retired staff members  are eligible for additional rate of 1.00% above card rate.

8

Nomination Facility

Nomination facility available under this scheme in the case of other deposits

9

TDS

Interest income is liable for tax as per the  IT Act.

10

Automatic Renewal Facility

Automatic renewal facility is not available.

11

Loans on Deposit

The depositor can avail loan on this deposit as per  the rules of the bank.

 


PRAGATHI DHANAVARSHA-555

1

Name of the Term Deposit Product

:

Pragathi Dhanavarsha – 555 days

2

Tenure of deposit

:

555 days only

3

Minimum amount of Deposit

:

Rs.100000 (and in multiples of Rs.1000 only, for fresh deposits).

4

Rate of interest

:

9.50% p.a. for General Public;

10.00% p.a. for Senior Citizen;

5

Payment of Interest

:

Interest will be compounded on quarterly intervals and will be paid at the time of maturity only

6

Nomination facility

:

Available under this deposit as in the case of other deposits

7

TDS

:

Interest Income is liable for Tax as per the IT Act

8

Automatic Renewal Facility

:

Not available

9

Loan on Deposit

:

The Depositor can avail loan on this deposit as per the rules of the Bank

10

Premature Closure

:

The Deposit can be closed before maturity, as per prevailing rules of the Bank