Andhra Bank
Founded in 1923, by the eminent freedom fighter, Dr. Bhograju Pattabhi Sitaramayya, Andhra Bank has come a long way in banking industry. Started with a paid up capital of Rs one lakh and an authorized capital of Rs 10 lakh, today it has a turn over of Rs 83,256 crores with aclientele base of over 1.74 Crores.Comprising of 1371 branches, 66 Extension Counters, 38 Satellite offices and 664 ATMs, Andhra Bank is rendering its satisfactory services to a plethora ofcustomers.
Adapting to the need of the day, Andhra Bank is stepping towards the Centralized Core Banking System with its 118 branches already computerized and a larger number of the same undergoing the process. Winner of the Best Bank Award, a banking technology award by IDRBT Hyderabad, Andhra Bank was amongst the first few banks to introduce Credit Cards in India in 1981. Banks is considering the proposal of entering into a joint venture in Malaysia in association with Indian Overseas Bank and Bank of Baroda.
Products and Services of Andhra Bank
Andhra Bank offers a comprehensive range of products and services to cater to the needs of its individual as well as institutional clients that include the following:
# For Retail
Deposits
1. AB Savings Accounts
2. AB Current Accounts
3. AB Term Deposits
4. AB Other Schemes
Loans
1. Housing Loans
2. Vehicle Loans
3. Educational Loans
4. Loans Against Gold for Non - Agricultural Purposes
5. Personal Loans
6. Mortgage Loans
7. Reverse Mortgage Loans
8. Loans Against Rent Receivables
9. Loans Against NSCs, KVPs, LIC Policies
Cards
1. Credit Cards
2. Debit Cards
DMAT
DMAT facility available in Andhra Bank
Payments
1. OLTAS
2. RTGS
3. NEFT
4. ECS
5. Advance Tax Payment
6. Western Union Money Transfer
7. CMS
Insurance
1. AB Bancassurance Life
2. AB Bancassurance Non Life
3. AB Arogyadaan Scheme
Mutual Funds
Andhra Bank provides Mutual Fund to it's investors.
# For Corporate
Loans & Advances
1. Fund Based Advances
2. Non Fund Based Advances
Project Appraisal
Project Appraisal Department has a team of qualified and experienced professionals
with domain knowledge in the various sectors, including technical, financial disciplines,
to carry out appraisal of large projects.
Syndication of Loans
The Bank has been offering its loan syndication services to corporates by arranging
financial assistance to their projects and operations.
# For NRI
Deposits
1. Savings
2. Term (Fixed) Deposits
3. Accounts for Returning Indians
Remittances
1. Wire Transfer By way of SWIFT
2. Remittance Facility for NRIs in Gulf
3. AB SPEEDWAY
4. AB Lock Box Facility
5. Western Union Money Transfer
Loans
1. Deposit Loans
2. Housing Loans
3. Educational Loans
Investments
Government dated securities/treasury bills
Other Investments on non-repatriation basis
Investment in immovable Property
# MSME(Micro, Small and Medium enterprises)
Andhra Bank is committed to extend its best services to Micro, Small and Medium
enterprises and at a very competitive price.
# Agriculture
Short Term Agrl. Credit
1. Pattabhi Agri Cards
2. AB Kisan Vikas Cards
3. AB Kisan Sampathi
Agrl. Term Credit
1. AB Kisan Pragathi
2. AB Kisan Rakshak
3. AB Kisan Chakra
4. Rural Godowns
5. Purchase of Land
6. Dairy Agents
7. Kisan Bandhu
Women Empowerment
1. AB Mahila Sowbhagya
2. AB Self Help Groups
3. AB Mahila Jyothi
Special Schemes
1. Agri Clinics
2. AB Kisan Green Card
3. AB Suryasakthi
RSETIs
Andhra Bank is pioneer in introducing many innovative Rural Development measures
since its inception.
For more information about Andhra Bank please see there website
http://www.andhrabank.in/ (Official website)