Today, the dream of owning a home is more attainable than ever, thanks to innovative and afforadable institutions like Andhra Pradesh Grameena Vikas Bank (APGVB). As a pillar of support for rural communities, APGVB offers tailored home loan solutions that address diverse needs with competitive interest rates and flexible repayment options.
About Andhra Pradesh Grameena Vikas (APGVB) Bank
Established in 2006 through the merger of Manjeera, Sangameshwara, Kakatiya, Nagarjuna, and Sri Visakha Grameena Banks, Andhra Pradesh Grameena Vikas Bank (APGVB) is a leading Regional Rural Bank (RRB) headquartered in Hanamkonda, Warangal.
Sponsored by the State Bank of India, APGVB operates in 21 districts of Telangana and 3 districts of Andhra Pradesh.
Branch Network:
- Total Branches: 771
- Rural Branches: 500 (64%)
- Bank Mitra Points: 2,804
Ownership Structure:
- Central Government: 50%
- State Government: 15%
- Sponsor Bank (State Bank of India): 35%
APGVB Home Loan Interest Rates
Andhra Pradesh Grameena Vikas Bank (APGVB) is dedicated to providing accessible and affordable financial solutions to the residents of Andhra Pradesh.
Understanding the diverse needs of its customers, APGVB offers three distinct home loan products tailored to facilitate home ownership and real estate investments.
Below is the updated interest rates of the three home loan options available:
| Category | Interest Rates |
|---|---|
| Housing Loan to Public | 8.65% p.a. onwards |
| Grameena Gruha Vikas | 8.75% p.a. onwards |
| APGVB Reality Loan (Plot) | 9.35% p.a. onwards |
Housing Loan To Public
The Housing Loan to Public from Andhra Pradesh Grameena Vikas Bank is designed to support various housing-related needs. The loan can be utilized for the following purposes:
- Construction of a New House/Flat
- Purchase of a Readymade House/Flat
- Repairs or Renovation of an Existing House/Flat
- Takeover of Home Loans (Other than SBI)
- Reimbursement of Investment
Minimum and Maximum Loan Limits
| Net Annual Income | EMI/NMI Ratio |
|---|---|
| Rs. 1.20L & ≤ Rs. 3L | 30% |
| Rs. 3L & ≤ Rs. 5L | 55% |
| Rs. 5L & ≤ Rs. 8L | 60% |
| >Rs. 8L | 65% |
Grameena Gruha Vikas
Grameena Gruha Vikas is a housing loan scheme designed to provide affordable and accessible housing solutions to farmers and other rural residents.
The primary aim of this initiative is to promote rural development by ensuring that individuals in rural areas can secure housing without financial strain.
Key aspects of the Grameena Gruha Vikas scheme include:
- Construction of a new house including cost of building a work shed for those pursuing income-generating activities like dairy farming, small-scale industries, and other agrarian ventures.
- Renovation or Repair of Existing Houses
- Extension of Existing Houses
Loan Amount and Interest Rates
| Category | Information |
|---|---|
| Loan Amount for Construction of a New House | Up to Rs. 10 lakhs |
| For Repairs or Extension | Up to Rs. 3 lakhs |
| Rate of Interest | 8.75% p.a. onwards |
APGVB Reality Loan
The APGVB Reality Loan is a specialized financial product offered by the Andhra Pradesh Grameena Vikas Bank (APGVB) aimed at facilitating the purchase of residential plots for individuals aspiring to build their dream homes.
This loan scheme is tailored to meet the housing needs of both urban and rural populations by providing accessible and affordable financing options for land acquisition within specified areas.
Eligible Plot Locations:
- Within Municipal/Corporation Areas:
- The loan is available for purchasing residential plots located within the Municipal or Corporation areas of urban and metropolitan centers.
- These plots are intended for the subsequent construction of houses.
- Outside Municipal/Corporation Areas:
- Purchase of plots outside Municipal or Corporation areas is permitted only if the plots are allotted or developed by government bodies or development authorities.
- Eligible authorities include:
- HUDA (Hyderabad Urban Development Authority)
- KUDA (Karnataka Urban Development Authority)
- VUDA (Visakhapatnam Urban Development Authority)
- Other similar government bodies for cities such as Warangal and Visakhapatnam.
- Purchase of plots outside Municipal or Corporation areas is permitted only if the plots are allotted or developed by government bodies or development authorities.
- Minimum Plot Size:
- The residential plot must have a minimum size of 100 square yards.
Minimum and Maximum Loan Amount
| Category | Details |
|---|---|
| Minimum Loan Amount | Rs. 5 lakhs |
| Maximum Loan Amount | Rs 50 lakhs |
| Maximum LTV | 70% |
| Repayment Tenure | 96 months |
Interest Rates
| Category | Details |
|---|---|
| Interest Rate (First 3 Years) | 9.35%* per annum |
| House Construction within 3 Years | Existing Realty loan outstanding will be included in the new home loan limit. |
| House Not Constructed within 3 Years | Interest rate will be adjusted to match General Purpose Asset Backed Loans from the date of first disbursement. |
APGVB Home Loan Eligibility Criteria
APGVB Bank’s home loan eligibility criteria are designed to accommodate diverse financial backgrounds. Key requirements include:
| Criteria | Requirements |
|---|---|
| Age | Above 18 years |
| CIBIL Score | 700+ |
| Salaried | Form-16 or ITR for last two years. Last 6 months Salary slips/ Salary Certificate |
| Non – Salaried | I.T. Returns for last three years Regular source of income to meet the monthly repayment obligation will be considered. For Businessman: Debit and credit summations in the Bank account should be minimum 50% of the purchases / sales reflected in P&L account, provided they are not having GSTN |
| Agriculturist | Income Certificate based on the nature of the activity (e.g. farming, dairy, poultry, orchards, etc.), land holding, cropping pattern, yield etc. from the competent authority |
APGVB Home Loan Documents Required
When applying for an APGVB Bank home loan, gather all necessary documents to ensure a smooth approval process. APGVB requires specific paperwork to verify your financial and personal information effectively.
General Documents
| Category | Documents Required |
|---|---|
| Application Form | Duly filled by the borrower and co-borrowers (if applicable) 3 passport size photographs each. |
| Proof of Identity | Photocopies of PAN (mandatory) / Aadhar / Passport / Driver’s License / Voter ID card. |
| Proof of Residence | Photocopies of recent Aadhar / Telephone Bills / Electricity Bill / Property Tax Receipt / Passport / Voter ID card. |
| CIBIL Report | CIBIL Report of the applicants and/or guarantor. |
| Additional Documents for Married Couples | Self-declaration where KYC documents are not conclusive and if a marriage certificate is not submitted. |
Income Proof For Salaried Individuals
| Category | Documents Required |
|---|---|
| Latest Salary Slips | Last 3 months salary slips along with 6 months bank statements. |
| Employer Identity Card | Copy of the identity card issued by the employer. |
| Income Proof | Form 16 or IT Returns for the last 2 years. If assessment is not done under the IT Act, provide 2 years of bank account statements. |
| Employment Verification | Copy of Appointment Order, Offer Letter, or Confirmation Letter. |
| Loan Clearance Documents | No Objection Certificate (NOC) & closure letters for loans reflected in the CIBIL report. |
Income Proof For Self Employed Individuals
| Category | Documents Required |
|---|---|
| IT Documentation | Photocopies of IT Returns or Assessment Orders for the last 3 years. |
| Financial Statements | Certified copies of Balance Sheet and Profit & Loss Account for the last 3 years. |
| Business Address Proof | Proof of business address. |
| Business Registration Proof | Registration Certificate, Trade License, GSTN, etc. |
| Certificate of Practice | Photocopy (if applicable). |
| TDS Certificate | Form 16A (if applicable) for amounts exceeding ₹100 lakhs and challans for Advance Income Tax. |
| Partnership Documents | Copy of Partnership Deed or Memorandum of Association (MOA) (if applicable). |
| Bank Statements | 12 months bank statements if GSTN is not submitted, corresponding to the latest ITR. |
| ITR Copies | Acknowledged ITRs for the last 3 Financial Years with CA-certified computation sheets, if gross receipts exceed ₹50 lakhs. |
| Employment Documentation | Copy of valid work permit/work contract and appointment letter. |
Agriculturists
| Category | Documents Required |
|---|---|
| Land Holding Documents | Documents showing land ownership or holding. |
| Income Certificate | Income certificate from a competent authority. |
Property Related Documents
| Documents | Description |
|---|---|
| Agreement of Sale | – |
| Agreement of Construction or Work Order | In case of semi-finished flats/semi-finished houses |
| Receipt of Payment of Earnest Money | Made by the borrower(s) to vendor (Advance Payment Receipt) |
| Sale Deed | In case of take-over, second sale, construction, readymade house, or reimbursement |
| Copy of Approved Plan & Proceedings | From competent authority or BRS issued by approved authorities |
| Copy of Approved Layout Plan | In Duplicate / LRS |
| Property Tax Paid Receipt (Latest) | In Duplicate (if second sale) |
| N.A Permission | From the land from the concerned RDO / Copy of order under the Urban Land Ceiling Act |
| Letter of Allotment | From Housing Board/Society etc., (where applicable) |
| Non-Encumbrance Certificate | For latest 13 years (30 years, if required) |
| Copies/Certified Copies of Chain of Documents | For establishing link |
| Signature Identification | From bankers of borrower |
| For NRIs | 6 Month’s Statement of Overseas Bank Account Power of Attorney |
Balance Transfer Documents
- Loan Account Statement: Last 12 months from the current lender.
- Foreclosure Letter: From the existing financier.
- Institutional Letter: From the present financial institution listing held documents.
- Document Copies: All documents held by the current financial institution.
- Interim Guarantee Details: If applicable.
- NOC Undertaking Letter: From the current lender or financial institution.
- Title Papers: Ownership documents in the applicant’s name.
Fees and Charges: APGVB Home Loan
APGVB Bank offers transparent fees and charges for its home loans to ensure borrowers are fully informed. Typical costs include:
| Category | Fees and Charges |
|---|---|
| Processing Fees | 0.50% of Loan Amount, subject to a maximum of Rs.10,000/- |
| Inspection Charges | Up to Rs. 50,000: NIL Above Rs. 50,000: Rs.1,500/- P.A in case of irregular account. |
| Annual Service Charges | Up to Rs. 50,000: Rs. 130 P.A. Above Rs. 50,000: Rs. 275 P.A SB CUM OD: NIL SHG: NIL |
| Penal Interest for Non-Agricultural Advances Over ₹25,000 | 2% on the Loan overdue amount. |
| For Issue of Solvency certificate | Rs.600/- per Lac, subject to a maximum of Rs.25,000/- |
| No Due Certificate | i). Priority sector – NIL ii). Others Rs.150/- |
| Housing Loan switch over charges | 0.50% of the Loan Outstanding |
| Pre- closure Take over charges | 2% on the Loan Outstanding |
| Collection of Outstation Cheques | Rs. 350 |
| Service Charges for providing credit information report | For individual customers Rs.200 |
Andhra Pradesh Grameena Vikas Bank Branches
APGVB operates numerous branches across the state. Locate your nearest branch to take advantage of their comprehensive financial solutions and personalized support.
- Visit the official website of Andhra Pradesh Grameena Vikas Bank
- Click on the “Branch Locator” option available on the dashboard.
- Choose your State, District, and Branch from the dropdown menus. Alternatively, enter the Branch Code in the search field.
- Enter the Captcha code to verify you are not a robot. Click on the “Submit” button.
- You can View the branch code, contact details, and address of the selected branch.
How to Register for APGVB Internet Banking?
To register for APGVB Online Banking, follow these steps:
- Visit the Official APGVB Website
- Locate and click on the “INB Login” option on the dashboard.
- In the Internet Banking section, select the “New User Registration” link.
- Enter Your Account Details
- Account Number: Input your APGVB savings or current account number.
- Registered Mobile Number: Provide the mobile number linked to your APGVB account.
- Email Address: Enter a valid email address for communication and verification.
- Set Up Your Login Credentials
- Choose a Username and Password following the security guidelines.
- Confirm your password.
- Verify Your Identity
- Enter the OTP sent to your mobile or email.
- Answer the selected Security Questions.
- Read and accept the Terms and Conditions and Privacy Policy.
- Click “Submit” or “Register” to complete the process.
- Receive a confirmation message on the website and via your registered email or mobile.
- Log In
- Return to the “Internet Banking” section.
- Enter your Username and Password to access your account.
APGVB Customer Care Number
| Category | Contact Information |
|---|---|
| Toll Free Number | 1800-121-0354 (10:00 AM to 5:00 PM) |
| Head Office Address | Door No.2-5-8/1, Ram Nagar, Hanmakonda – 506001, Warangal (City & Dist.), Telangana State. |
| Head Office Contact Number | 0870-2577769 [10:00 AM to 5:00 PM] |
| APGVB ATM Near Me Toll Free | 1800-532-7444/1800-833-1004/1800-123-6230 |
| https://www.facebook.com/APGVB.Official | |
| https://twitter.com/APGVB_HO |
Conclusion
APGVB Bank offers a range of competitive home loan options tailored to meet diverse financial needs, ensuring that every customer can find a solution that aligns with their homeownership dreams.
To make the home buying process even smoother and explore the best financing options, reach out to Credit Dharma today. Let our experts guide you toward the most suitable home loan, making your path to homeownership seamless and stress-free.
Frequently Asked Questions
To find the nearest APGVB Bank branch, visit the APGVB website and use the branch locator tool by entering your location. Alternatively, you can use map services like Google Maps by searching “APGVB Bank near me” to get directions and contact information for nearby branches.
Download the official APGVB mobile app from your app store, register using your account details, and log in securely. The mobile banking platform offers various services, including fund transfers, balance checks, and bill payments.
You can perform a balance enquiry with APGVB Bank through multiple channels: via SMS, by calling the balance enquiry number, using mobile banking, or visiting an APGVB branch.
To check your APGVB Bank account balance, you can call their dedicated balance enquiry number at 1800-121-0354.
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