Andhra Bank
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Toll Free Number: 1800 425 1515

Call 040-23122297 for Internet & Mobile Banking/ATM -24x7 Helpdesk or mail to us on adchelpdesk@andhrabank.co.in

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ASBA
 
  ASBA
 


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ASBA : Applications Supported by Blocked Amount (ASBA) means an application for subscription to an issue containing an authorization to block the application money in a Bank account. It is an additional mode of payment for investment in shares. Without moving the funds out of your account, the amount will now be simply blocked. This means as long as the IPO shares are not allotted, the funds stay in your account and you will also not lose interest in your savings bank account. The amount equivalent to allotted shares will be debited from your account and the balance, if any, will be unblocked in your account.

ASBA (Applications supported by Blocked Amount) – No need to issue cheques by investors while subscribing to IPO. Just write the Bank Account Number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account.
 
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