Andhra Bank
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Toll Free Number : 1800 425 1515

Online OD against TD
Digital transformation is more than just digital, it’s about remodeling the business so as to be customer-centric, agile and innovative at core. With digitization at frontline of change to enhance customer satisfaction, loyalty and retention, our Bank has enabled Overdraft (OD) facility against Term Deposit (TD) through Internet Banking(Retail).

Following are the features of OD against TD opened online:-

  1. Facility is available for Retail Internet Banking customers only.
  2. Customer can avail online OD facility against deposit (Eligible schemes KTDGQ, FMOGP and FDOGP) opened online i.e. Deposit account opened through Internet Banking / Mobile Banking. Online OD is not permitted against Term Deposits opened in Branches.
  3. Using the facility customer can ‘Open’ & ‘Inquire’ OD account and for limit enhancement / modification / closure OD facility, customer has to visit account Branch.
  4. New OD account will be opened in scheme code SODDI for easy monitoring and only one OD is allowed against one TD.
  5. An alert will be sent to the customer’s registered mobile number on successful opening of the OD account and account will be part of transaction exception report for monitoring by the branch.
  6. Amount of Loan (For Online Overdraft against Term Deposit)
    1. Min OD amount: Rs 10,000/- & Max OD amount: Rs 10,00,000/- (up to 90% of Term Deposit)
    2. Margin: 10 % of Term Deposit value.
    3. Maximum period: 24 Months or deposit due date whichever is lesser.
    4. Interest: Deposit rate + 1.5% for general public. (Senior Citizen / Staff deposit rate +1% up to 3 lakhs)
    5. Residual maturity of the deposit account should be more than 90days.
    6. Security will be linked to the deposit account automatically.
    7. Processing Fee: Nil
To apply, customer has to log in Internet Banking (Retail) account and visit ‘Account’ Tab and select ‘Open OD Account’ under Request option. Customer has to select Deposit Account, OD facility period, Amount, Purpose etc., Post request submission and successful authentication using transaction password, new OD account will be opened. Newly opened account will be instantly available for operation after onetime fresh login. For closure of Online Overdraft, customer has to visit branch with acknowledgement slip.