Andhra Bank introduces new `AB Freedom Deposit' scheme

Staff Reporter

TIRUPATI: Andhra Bank has introduced a new scheme "AB Freedom Deposit" scheme at its Balaji Nagar branch here.

The scheme allows a customer to get fixed deposit interest rate on his SB account.

The amount deposited in excess of Rs. 5,000, which is the minimum balance here, would automatically be diverted to a fixed deposit and the applicable rate of interest paid.

"The customer can draw the amount anytime.

Thus his hard-earned funds, instead of lying idle, will fetch him a higher rate of interest," bank's Deputy General Manager D. Jogi Raju said while explaining the features of the scheme.

The Balaji Nagar branch manager, V.S. Ramachandra Murthy, was present.