Saptagiri Grameena Bank

saptagiri-grameena-bank

Saptagiri Grameena Bank – A Joint Venture of Indian Bank, Government of Andhra Pradesh and Government of India

Saptagiri Grameena Bank was formed on July 1, 2006, by merging Venkateswara Gramin Bank and Kanaka Durgagrameena Bank through a special government ordinance. The headquarters of Saptagiri Bank are in the Chittoor district of Andhra Pradesh. Just like the other regional rural banks, the banking activities of this RRB are regulated by NABARD. This RRB operates in Chittoor and Krishna districts of Andhra Pradesh. The share capital of the Bank is jointly contributed by Govt of India, Indian Bank and Govt of Andhra Pradesh in the ratio of 50%, 35%, and 15% respectively.

AP State - Saptagiri Bank
Image Source: factswala.in

At present, there are 208 Saptagiri Bank branches in Chittoor and Krishna district. This RRB has dedicated all its energies and workforce towards rural prosperity by opening 128 Saptagiri Grameena Bank branches in rural areas alone.

Services available at Saptagiri Bank branches

  • Saptagiri Bank offers different types of deposit schemes such as Savings, Current, No Frills Accounts to their depositors. The Bank also provides short term and long term fixed deposit as well as recurring deposit schemes to inculcate the habit of savings amongst the rural households.
Saptagiri Grameena Bank
Image Source: www.saptagirigrameenabank.in
  • This RRB also provides several types of loans to their customers for education, housing, self-employment or high amount purchases. They also offer Kisan Credit Card to Agricultural farmers in Chittoor and Krishna districts.
  • New age financial products like Insurance and Mutual Funds are also available in Saptagiri Bank branches.

Saptagiri Grameena Bank connecting to the latest technologies

regional rural banks RRBs

  • Online payments through NEFT and RTGS can make. Saptagiri Bank IFSC codes are available on the Web Portal.
  • Since the year 2007, Saptagiri Bank has awarded as the “Best Bank for SHG Finance in Chittoor district” every year.

The Saptagiri Grameena Bank IFSC Code

  • Saptagiri Grameena Bank IFSC Code is IDIB0SGB001