About Andhra Bank:
Andhra bank is a public sector bank founded in November 1923 by the eminent freedom fighter Dr. Bhogaraju Pattabhi Sitaramayya. The bank initially commenced its operation with a paid up capital of just Rs.1 lakh. But, soon the bank picked up to a good growth and today it has a network of over 2800 branches, 4 extension counters, 38 satellite offices, and more than 3800 ATMs across 25 states and 3 Union Territories.
What is Abhaya SB account?
A saving account is the most ideal financial instrument which is help with a bank or financial institution. It is an interest-bearing deposit account and often the first banking interaction for many. Abhaya SB Account is one such account that lets you park your money safe and get convenient access to the stored funds at any point of time. It is said to be the most liquid form of savings and could provide financial assistance for a rainy day.
Moreover, there are certain features and benefits that make the account even more convenient and accessible. With an array of variety of features, Abhaya SB Account caters to different needs of every customer to guarantee a satisfied experience.
Key highlights of Abhaya saving account:
Interest rates – Andhra Bank offers competitive rate of interest that promises assured good returns on the savings account. Accountholders are not bound to make any effort to earn the interest over time.
Insurance cover - Andhra bank offers personal accidental insurance cover for a premium of just Rs.15. Under the insurance policy, the bank provides coverage worth Rs.50000 in case of accidental death, and Rs.50000 and Rs.25000 in case of permanent disability and partial disability, respectively. The insurance premiums are collected at the time of account opening and on August 31st every year. In order to claim the policy cover, home bank branch should be informed within 90 days of the unfortunate event, while the claim documents should be submitted within 180 days from the date of accident or death.