The Hindu Business Line : Andhra Bank `Maha Mela' under way

ANDHRA Bank is conducting AB Maha Mela from February 20 to March 20 to achieve its business turnover target of Rs 56,000 crore. During the month, the bank will focus on deposit mobilisation, retail lending and fee-based financial services.

At a press meet here on Wednesday, after formally launching the campaign, Mr Y. Prasad, Deputy General Manager, Kakinada zone, said the bank had a deposit scheme, AB Jeevan Abhaya, providing a life cover of Rs 1 lakh to the depositor. The bank was also offering Rs 2 lakh accidental insurance cover to savings accounts-holders at nominal rates.

AB Freedom Deposit scheme would fetch for the depositor fixed deposit rates of interest on balances held in savings accounts, he said. AB Jeevan Prakash Plus, meant for senior citizens in the age group of 61-65 years, would offer free life insurance, accidental insurance and medical insurance in addition to normal fixed deposit interest. The senior citizens would be offered half a per cent more on deposits.

On the retail lending front, he said the bank would focus on housing, personal and consumer loans.

The business in the Kakinada zone, comprising East Godavari district, had crossed Rs 2,100 crore and Rs 100 crore more was expected during this campaign, he said.

In all the 94 branches and three extension counters, road shows, product awareness meets and door-to-door campaign would be conducted during the month, he added.

More Stories on : Public Sector Banks | Promotions & Offers | Andhra Pradesh

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