Andhra Bank Savings Account

Important Update:

Andhra Bank and Corporation Bank is amalgamated with Union Bank as on April 1, 2020. The bank claimed in its statement that the entire migration has been completed at record time with least inconvenience to customers. There are no changes in their account numbers, debit cards or net banking credentials.

Andhra Bank offers a wide Range of Savings Account in order to cater the diverse banking needs of customers. The bank offers easy account opening procedure and a host of benefits in terms of rewards on transactions.

With the help of latest technology and quality human resource, the bank focuses on delivering excellent customer service. As on 2020, Andhra Bank had a network of 2885 branches across India. So users looking to open a savings account at Andhra bank can easily access their account from anywhere in India.

Types of Savings Account by Andhra Bank

1. AB Kiddy Bank

As the name goes, this account is meant for minors up to 18 years of age. Minors who have completed 10 years can open and operate AB Kiddy account in their names by submitting age proof. In case, if the minor is under 10 years of age, then the natural guardian should open and operate the account. The holder should maintain a minimum balance of Rs 100 in the account.

2. AB Abhaya Plus

This Andhra Bank savings account offers insurance cover. You will get accidental cover on death, partial or permanent disability. The maximum coverage is up to Rs. 1 lakh. Anyone between 5 to 70 year of age can open this account.

3. AB Easy Savings: No-frills Account

This is a no-frills account, which is an elementary savings account that comes with no charges on non-maintenance of minimum balance. While the minimum balance maintenance is only of Rs.5. Also, there are no restrictions on the number of withdrawals. The bank doesn't offer cheque book and ATM/Debit Card on this account.

4. Abhaya SB Account

Abhaya SB Account is suitable if you are looking for insurance cover. The account cover Personal Accident against death and permanent or partial disability for up to Rs.50,000 per person. You can hold the account either jointly or singly.

5. AB Gold Account

This account too offers insurance cover against death and permanent or partial disability. The cover is up to Rs. 1 lakh per person. The premium is fixed at Rs. 45 per person.

6. AB Jeevan Abhaya

AB Jeevan Abhaya scheme is launched in partnership with India First Life Insurance Company Limited. It is a savings account that provides Group Life Insurance cover with accidental death benefit to the account holders. Applicants between 18 to 55 years can apply for this scheme.

For normal death and accidental death, the sum assured is Rs.1, 00,000.

How to Open Andhra Bank Savings Account?

To open a savings account at Andhra Bank, you need to visit the nearest branch and request the bank executive for savings account opening form. Ensure all the fields in the form are correctly filled. The details mentioned in the application form should match those mentioned in the KYC documents that have been submitted along with the form.

The bank will verify the application form along the supporting documents submitted. Once the verification is successfully done, your account will get activated in the next few days.

Eligibility Criteria to Open a Savings Account

Customers should meet the following criteria to open a savings account with the bank-

• The person should be a citizen of India
• The individual should be 18 years of age or above except in case of a minor savings account
• The customers need to submit valid identity and address proof to the bank that is Government approved

Once the bank approves the submitted documents, the applicant will have to make an initial deposit depending upon the type of the savings account.

Andhra Bank Customer Care

For any queries, doubts, request or grievances, customers can Call Andhra Bank customer care @1800 425 1515