Andhra Bank - Products and Services

Products and Services

The products and services provided by the bank mainly categorized into businesses of Retail, Corporate, NRI, MSME, and Agricultural industries. Under the Retail Business, the bank offers Deposits, Loans, Cards, DMAT Services, Payment Services, Insurance, and Mutual Funds to individual customers. Under the Corporate Business, the bank offers Loans & Advances, Project Appraisal services, and Syndication of Loans to the business entities. Under the NRI business segment, the bank offers Deposit schemes, Loans, Remittance services, and Investment services to the Non Resident Indians. Under the MSME business segment, the bank offers different schemes that aimed at providing loan and transaction services to Micro Small and Medium Enterprises (MSME). Some of the MSME schemes available are OTS Scheme, Composite loan scheme, Open cash credit (OCC), Artisans Credit Card (ACC), AB Laghu Udhyami Credit Card (LUCC), AB Power Tools (Shakti), Technology upgradation fund scheme (TUFs), Credit guarantee fund trust for small industries (CGTSI), AB Doctor Plus...etc. Under the Agriculture business segment, bank provides different credit schemes to farmers, Women Empowerment schemes, and Andhra Bank Rural Development Trust (ABRDT) helps Rural Self Employment Training Institutes (RSETIs).

Following are the various Deposit Schemes available

• AB Current Accounts
• AB Term Deposits
• AB Arogyadaan Scheme
• AB Bancassurance Life
• AB Bancassurance (Non Life)
• Retail Loans
• Agricultural Loans
• Corporate Banking
• NRI Banking
• NRI Products and Services
• NOSTOR details for remittance
• Western Union Money Transfer

Following are the various Technology Products available -

• Internet Banking
• Credit cards (Either on the basis of Fixed Deposit or latest Income Tax returns)
• Multi City Cheque Facility
• On-Line Tax Accounting System (OLTAS)
• Real Time Gross Settlement (RTGS)
• Instant Funds Transfer
• ATM Services
• Any Branch Banking
• Electronic Clearing Service (ECS)
• National Electronic Funds Transfer

During FY 2011-12, your Bank has taken many I.T. initiatives to improve Customer Service like:

• Bank has launched e-Donations facility for donations to Shri Siddhivinayak Temple, Mumbai. Customer of any Bank having Mobile Banking Facility can donate funds by sending an SMS in a prescribed format to 810814400 with MMID (Mobile Identification Number) 9011111
• Bank launched new e-banking centres at Nanakramguda and vidyanagar branches on 31.12.2011. The facilities include :

1. ATM Machines, 2. Self Service Pass Book Printer,3. Automated Cheque Deposit Machine, 4. Kiosk to carry out Internet Banking 5. Hot Line to our Call Center. Customers will be able to Draw Cash, Deposit Cheques, Update their Pass Books and carry out Internet Banking on a 24X7 basis on all days.

• Bank introduced a new Loan Scheme for practicing Professionals named “AB Professional Loan” from 30.01.2012, to cater to the potential segment consisting of practising Chartered Accountants, Architects, Engineers, Valuers, Management & Financial Consultants, Company Secretaries, Cost Accountants, etc.,
• Bank recently launched a new Product named “Abhaya First Wealth Pack” in all its Branches, combining features of four products, viz., Recurring Deposit, Savings Bank Account, Unit Linked Plan (Equity Option) and Life Insurance Cover. This is available in

three denominations of Silver (` 25,000/-), Gold (` 50,000/-)and Platinum (` 1,00,000/-).

• The prepaid cards launched by the bank in September 2011 under gift and international travel received good response from the customers. The gift cards are available in flexi denomination from Rs.250/- to Rs.50,000/-. Gift cards, like international travel prepaid cards, are issued initially in US dollars. The cards are issued with an initial load of US$200 and reloading in multiples of US$10