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  • Andhra Bank Savings Account

    Andhra Bank Savings Account

    Andhra Bank offers a wide variety of savings account options to cater to the needs of every customer. With features like personalized services and unique benefits with every scheme, customers can be guaranteed of a satisfying experience. Andhra Bank customers can choose a savings account scheme from a multitude of options on their plate. Their account can be accessed from over 2528 global branches and also via ATMs.

    Andhra Bank Savings Account Interest Rate

    The savings accounts offered by Andhra Bank are simple and versatile, and offer a flat 4.00% interest rate that applies across a range of conditions, including accounts that are offered to both resident and non-resident Indians, normal subscribers as well as senior citizens.

    How to open a Andhra Bank Savings Account?

    Customers can easily open a Savings account with Andhra Bank through the website. After selecting the online application option, the customer has to upload a passport size photo on the web portal. Also, KYC documents like scanned copy of photo ID, address proof should be uploaded during application. After filling in the necessary details and uploading the required documents, the customer can submit the application form. An unique tracking ID will be provided and the customer can use the same for any future reference. A welcome kit will be offered as a part of the initiation program.

    Alternatively, customers can also visit any of the nearest Andhra Bank and open a savings account by providing all the necessary documentation.

    Types of Andhra Bank Savings Account

    Andhra Bank offers a multitude of options for customers to select from. The following are the savings account scheme offered by Andhra Bank.

    • AB Diamond Savings Bank Account

      This account is exclusively created for well-paid salaried employees of reputed corporate, central and state governments. A special account offered for individuals with high net worth, this account will also give you an array of advantages.

    • AB Platinum Savings Bank Account

      An account for high net worth individuals and well-paid salaried customers from reputed organizations, this savings account will offer many benefits like priority locker allotment and unlimited cheque book facility.

    • AB Kiddy Bank

      This is a special savings account scheme for minors in the age group of 10 to 18 years. The minimum balance requirement is Rs.100 and deposits can be made from any branch of Andhra Bank.

    • AB Abhaya Plus

      With the new Abhaya Plus Savings scheme, customers get accidental insurance facility for a premium of Rs.18. The insurance will offer coverage of up to Rs.50,000 and will protect against death , partial or permanent disability.

    • AB Easy Savings No Frills Account

      This no-frills account is an elementary savings account scheme that comes with no extra service charges and no restrictions on the number of withdrawals in the account. Only a minimum balance of Rs.5 is to be maintained.

    • Abhaya SB Account

      This account offers personal accident insurance cover against death or permanent/partial disability for up to Rs.50,000 per person. This account can be held either jointly or singly.

    • Abhaya Gold SB Account

      This account offers insurance cover worth Rs.1 lakh per person covering death or permanent/partial disability. The premium is fixed at Rs.45 per person.

    • AB Jeevan Abhaya Scheme

      This scheme is launched in partnership with IndiaFirst Life Insurance Company Limited and offers accidental death benefit and group insurance cover to the account holders. This savings account scheme is for applicants between 18 to 55 years.

    • AB Super Salary SB Account

      A zero-balance account for salaried employees of a reputed company/organization, this account also offers other benefits like free internet banking, free ATM, debit and credit card, sweep and reverse sweep facilities amongst many other exclusive benefits.

    • Abhaya First Wealth Pack

      An exclusive product offering from Andhra Bank, this combines the advantages of four products - Life insurance cover, unit linked plan, recurring deposit and savings bank account. With three denominations, gold, silver and platinum packs, this will provide enhanced flexibility and control over money.

    • AB Jeevan Abhaya Double Plus

      A savings bank account extending group life insurance coverage of Rs.5 lakhs, the one year renewable group term insurance scheme covers accident and death due to natural causes. The premium is nominal and no medical examination has to be undergone by applicant.

    • AB Jeevan Abhaya Triple Plus

      This savings account offers an one year, renewable group term insurance scheme that offers coverage against death due to natural causes and accident at nominal premium amount. Customers aged between 18 to 55 years can apply for this scheme and the total coverage provided is Rs.10 lakhs.

    • AB Little Stars and AB Teens

      A savings account scheme for minors, this offering from Andhra Bank brings many advantages like issuance of exclusive savings pass book and specially crafted withdrawal booklet. RuPay cards, internet and mobile banking facility offered with this account will teach the younger generation about new-age banking.

    Andhra Bank Savings Account Minimum Balance Requirement and Add-on Features

    Savings Account Name Minimum Balance Requirements Features
    AB Diamond Savings Bank Account Average Quarterly Balance of Rs.3 lakhs
    • Waiver of SMS charges and annual ATM, Debit card maintenance charges
    • Free insurance cover worth Rs.5 lakhs
    • unlimited personalized cheque book
    AB Platinum Savings Bank Account Average Quarterly Balance of Rs.5 lakhs
    • Priority Locker allotment
    • Free accidental coverage of Rs.10 lakhs
    • Free life insurance cover of Rs.2 lakhs
    AB Kiddy Bank Rs.100
    • Free doll with every savings account
    • Interest of 4% per annum
    • Deposits can be made at any Andhra Bank branch
    AB Abhaya Plus -
    • Accidental insurance facility
    • Maximum insurance cover worth Rs.50,000
    AB Easy Savings No Frills Account Rs.5
    • No charges on minimum balance non-maintenance
    • Relaxed KYC norms
    • No restrictions on number of withdrawals
    Abhaya SB Account -
    • Insurance cover worth Rs.50,000
    • Premium for insurance at Rs.15 only
    • International debit card and cheque book facilities
    Abhaya Gold SB Account -
    • Insurance cover worth Rs.1 lakh per person
    • Premium at Rs.45 per annum only
    • Any branch banking facility
    AB Jeevan Abhaya -
    • Sun assured of Rs.1 lakh
    • No medical check up needed for insurance
    AB Super Salary SB Account Average Minimum Balance of Rs.5000 to be maintained
    • No ledger transaction charges
    • Zero Balance Account
    • Free debit card, credit card and demat account
    Abhaya First Wealth Pack -
    • Combines the benefits of four products
    • The term is 10 years with annual instalments.
    • Three variants in different denominations
    AB Jeevan Abhaya Double Plus -
    • Nominal premium amount for life insurance coverage of Rs.5 lakhs
    • Tax benefits
    • Personalized cheque books and RTGS, NEFT facilities
    AB Jeevan Abhaya Triple Plus -
    • Life insurance coverage of Rs.10 lakhs
    • Nominal premium rates
    • SMS, internet and mobile banking facilities
    AB Little Stars and AB Teens Rs.500 in urban and metro areas and Rs.250 in rural and semi-urban areas
    • RuPay ATM cards
    • Internet and mobile banking facilities
    • Exclusive passbook and withdrawal booklet

    Andhra Bank Savings Account Eligibility

    Savings Account Name Eligibility
    AB Diamond Savings Bank Account High net worth individuals, well-paid salaried applicants of reputed companies/organizations Societies, educational institutions and charitable trusts
    AB Platinum Savings Bank Account High net worth individuals, well-paid salaried applicants of reputed companies/organizations Societies, educational institutions and charitable trusts
    AB Kiddy Bank Children under the age of 18 (minors) can apply for this account.
    AB Abhaya Plus -
    AB Easy Savings No Frills Account As per KYC Norms
    Abhaya SB Account The applicant’s age should be 5 to 70 years.
    Abhaya Gold SB Account The applicant’s age should be 5 to 70 years.
    AB Jeevan Abhaya This scheme is for customers aged between 18 to 55 years.
    AB Super Salary SB Account Salaried applicants or any organization or company drawing salary through Andhra Bank.
    Abhaya First Wealth Pack The applicant’s age should be between 18 to 59 years.
    AB Jeevan Abhaya Double Plus Customers who are in the age group of 18 to 55 years
    AB Jeevan Abhaya Triple Plus Customers who are in the age group of 18 to 55 years
    AB Little Stars and AB Teens Little stars account can be opened by customers between 10 to 15 years and Teens account can be opened by customers between 15 to 18 years.
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