Product Details
Abhaya SB A/c
Hyderabad
A Quality Product from
Andhra Bank [View Profile]
Hyderabad - India
Description :
AB Freedom Deposit Combination of Saving Bank and Term Deposit with the Auto Sweep and Reverse Sweep facility, where by the money in your saving bank account in excess of pre-set limit of Rs.5000 is automatically transferred to fixed deposit in units of Rs.1000 each (minimum number of units for such transfer is fixed as 5 i.e. Rs. 5000/)
Options
AB Freedom Fixed Deposit (ABFFD) for 15 days to 120 months.
AB Freedom Re investment (ABFRI) for 6 months to 120months.
With
Fixed period for all the deposits.
Maximum interest rate for Minimum period or
Fixed maturity date for all the deposits (only for ABFFD).
features :
Minimum balance for the account is Rs. 5000/-
The rate of interest applicable to the ABFSB is that of Saving Bank account and to term deposit the rate applicable for normal term deposit.
Complete Liquidity: The deposits get broken in the multiple s of Rs.1000 on
LIFO (Last in First Out) basis, while the remaining deposit continues to earn
full interest.
No Penalty on premature withdrawals of deposit units
ATM / Debit Facility available
No documentations for cancellation of deposits.
The option for (i) type of term deposit, (ii) Period of deposit or (iii) interest payment, once given can be changed at any time. The changed option shall be applicable for future transactions.
All other terms and conditions applicable to Savings Bank Scheme shall be applicable to AB Freedom deposit Scheme.
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Andhra Bank deals in :
NRI Services: -Particulars of NOSTRO Accounts Maintained by International Banking Division Mumbai. -List of branches authorised to handle / transact foreign Exchange. -Mandatory fields for Wire Transfer of funds in EUR to any Branches of Andhrabank. -Mandatory fields for Wire Transfer of funds in GBP to any Branches of Andhrabank. -Mandatory fields for Wire Transfer of funds in USD to any Branches of Andhrabank. International Business Services: Exporters: -Advising Letters of Credit established by foreign buyers -Obtaining Credit Report on buyers abroad -Negotiation of documents under Letters of Credit Collection of Bills -Packing Credit Finance in Indian Rupees -Packing Credit Finance in Foreign Currencies -Export Earners' Foreign Currency Account -Forward Exchange cover. Importers: -Opening Letters of Credits on behalf of Bank's Constituents -Issue of Bank Guarantees on behalf of Bank's Constituents -Collection of Bills -Obtaining reports on Exporters/Sellers abroad -Facility for remittance of proceeds by Mail Transfer/Teletransfer/Swift -Import loans in Foreign Currency -Loans for import of capital goods. Student Services, Services to International Tourists, Services to Businessmen, Services for Medical Treatment Abroad.
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