Andhra Bank
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Toll Free Number : 1800 425 1515

AB Smart Choice
 AB Smart Choice
Title of the Scheme AB – Smart Choice" Deposit
Amount of Deposit Rs.1 Crore and above
Period of Deposit 179 Days Only
Type of Deposit Fixed Deposit
Rate of interest As per existing card rate.
Eligibility All Constituents who can make Fixed Deposits can invest under the
Loan Facility Loans/Overdrafts are allowed as per our norms
Premature withdrawal

a) No penalty for premature withdrawal provided these have remained
with the bank for at least 7 days.

b) Interest will not be paid, in case deposit cancelled before 7 days from
the date of deposit.

General aspects

Nomination facility is available.
Interest on AB – Smart Choice deposit is treated on par with ordinary
fixed deposit for Tax purposes.

All other guidelines applicable with regard to acceptance, payment and
transfer of term deposits apply to the deposits accepted under the

Additional interest for staff /retired staff and senior citizens is not
applicable under AB – Smart Choice deposit scheme.