Andhra Bank is a medium Public sized bank founded by a eminent freedom fighter Dr.PattabhiSitarmayya in 1923. It has a network of over 2735 branches and currently the bank is operating all over India.
The bank offers the Credit cards which has global acceptance like Visa Platinum, Visa Gold, VisaCorporate, Visa Classic and Master cards. Cards are issued against the minimum taxable income of 1.80 lacs.
The credit cards from Andhra Bank hold the following features:
- No admission fee is levied.
- No annual subscription in the first year.
- No finance charges during the interest free period.
- Soft copy of monthly bill is sent on the registered mobile number.
- 2 add on cards are provided for spouse/parents/guardians.
- Cards are also issued against deposits.
- Cash withdrawn is limited to 50% of the availed credit limit.
- Cash advance is charged with an interest rate of 3%
- All information regarding billing, purchases, credits received , cards blocking or card renewal are sent on the registered mobile numbers.
- Unpaid dues attract a service charge of 2.5% in case minimum balance is paid, otherwise, 2.95% on unpaid amount.
Debit cards cum ATM card are exclusive cards of the bank.
The cards can be used for making any purchases at any merchant outlets.
Andhra bank has stopped issuing any personalized debit cards and is now offering only non-personalized chip cards along with the PIN on all the bank counters immediately at the time of opening any new account with the bank.
Debit cards can be used for following purposes:
- Balance inquiry
- Pin change
- Withdrawal of cash
The Andhra Bank is offering various kinds of loans to its valued customers.
The types of loans offered by the bank are as follows:
- Housing Loan
- Gold Loan
- Car Loan
- Vehicle Loan
- Educational Loan
- Non-Agricultural Gold Loan
- Personal Loans
- AB Professional Loans
- Mortgage Loans
- Reverse Mortgage Loan
- Loan against Rent Receivables
- Loan against NSC’s, KVP’s, LIC Policies
- Doctor Plus
The Andhra bank offers various kinds of savings facility to cater to the needs of different categories of customers. They have savings account for kids, for pensioners, salaried people, corporate customers, Govt. sector and Charitable trusts and societies can also have a savings account with this bank. The rate of interest offered on savings account is generally 4 % for all categories.
The different types of Savings account offered by the bank are as follows:
- AB Kiddy Bank
- AB Easy Savings (No Frills account)
- AB Super Salary SB Account
- AB Little stars and AB Teens
- AB Jeevan Abhaya Double Plus
- AB Abhaya Plus
- AB Abhaya SB Account
- AB Jeevan Abhaya Scheme
- AB Abhaya Gold SB Account
- AB Platinum SB Account
- AB Diamond SB Account
- AB Abhaya First Wealth Account
- AB Jeevan Abhaya Triple Plus
Andhra Bank offers variety of deposit schemes to its customers. The rate of interest varies from each and every deposit schemes and it mainly depends upon
The duration of deposits and prevailing rate of interests and the guidelines set by the government. Senior citizens get an extra benefit of 0.05 % interest for the recurring deposits.
Different types of deposit schemes available are as follows:
- AB Recurring Plus
- AB Freedom (Flexi) deposit scheme
- AB Money Time
- AB Tax Saver
- AB Fixed deposits
- AB Kalpataruvu deposits
- AB Recurring deposits
- AB Smart Choice
Andhra Bank offers various services to its NRI CUSTOMERS.
The bank offers various kinds of deposits schemes to its NRI customers.
If the customer is interested in conversion of his currency and to avail the tax benefits these accounts are suitable as the amount in the accounts is totally tax free.
The account is maintained in Indian currency. The normal rate of interest is 4%.
Loan facility is available against these deposits.
This facility is available to the NRI’s who had regular income or assets acquired before becoming a NRI and like to invest in the fixed assets. But repatriation is not available on this kind of deposits. Interest is taxable as per the rules.
- NRE ACCOUNT
These accounts are beneficial to the NRI’s who are having regular incomes on assets which they acquired prior of becoming an NRI and also making some payments in India for their genuine needs in India.
The account can only be maintained only in Indian currency.Interest rates as per the prevailing domestic rates.
Various kinds of remittance facility is also available for NRI’s:
- Remit funds to India-through SWIFT
- Remittance facility for NRIs in Gulf
- New arrangement with Bank of America MERRILL LYNCH
Various kinds of loans available for the NRI’s are as follows:
Loans on deposits:
- Against NRE deposits
- Against NRO deposits
- FCNR (B) deposits
- Housing loans to NRI’s
- Housing loans to NRI’s of UAE
Andhra Bank offers various kinds of online services to its customers which they can avail after applying for this facility from the bank. The customers need not visit their nearby branches and can do the banking work from their home itself.
The following online services are provided by the bank:
- AADHAR SEEDING
- AB ONLINE SHOPPE
- BLOCKING ATM/DEBIT CARDS
- CLICK TO PAY
- CREDIT AND ONLINE PORTAL
- INDIA FIRST ONLINE SERVICES
- INTERNET BANKING
- MOBILE BANKING
- ONLINE SAVINGS ACCOUNT OPENING
- PREPAID CARD SELF CARE PORTAL
- SMS BANKING
- TAX PAYMENTS
- TELE BANKING