Andhra Bank
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Toll Free Number : 1800 425 1515

 
AB Recurring Plus
 
  Penalty

No penalty for late payment of installments.
 
  Premature Closure

Request for premature closure will be permitted without any penalty. Interest, in such accounts, will be paid at the applicable Term Deposit rate, for the actual period for which the deposit has remained with the Bank, without any penalty thereof.
 
  Loan /overdraft facility

A Deposit Loan or Overdraft may be allowed during the period of an AB Recurring Plus Deposit account up to 90% on the balance of the deposit subject to the condition that minimum amount of such loans shall be Rs.5000/- However, in cases where the depositors are prompt in remitting monthly installments, the amount of interest already provided under "Interest Payable Time" may also be taken into consideration for arriving at the eligible amount of Advance / Loan.
 
Free Fund Transfer

No service charge for standing instructions to transfer monthly installments from operative accounts of the account holders. Similarly, depositor can remit monthly installments, free of cost, from any of the branches under Core Banking Solutions.
  • Standing instruction is available for Core installment amount only. Step up amount during any month has to be paid by the customer separately.
 
  Nomination

This facility is available as per extant guidelines
 
  Transfer of Accounts

Transfer of accounts between branches is not permitted presently.
 
For any other clarification, please call on your nearest Andhra Bank branch.
 
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