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Andhra Bank launches saving schemes for children, teenagers

The Andhra Bank here launched two schemes on Friday to encourage saving among children from an early age.



Rajahmundry: The Andhra Bank here launched two schemes on Friday to encourage saving among children from an early age.

On the occasion of launch here to mark Children's Day, East Godavari district Educational Officer KV Srinivasa Reddy said that the bank has taken a great initiative by launching the scheme and it will also create awareness among children about savings.

Andhra Bank, Kakinada zonal manager S Seshagiri Rao said that 'AB Little Stars' scheme has been launched for children in age group of 10-15 years and their parents stands as guardians while 'AB Teens' is targeted for teenagers between 15-18 years.

Internet banking, ATM card, mobile banking and cash transfer will be provided to the young customers, Rao added.

He said that bank's 112 branches in Kakinada Zone in the district so far this fiscal has?received Rs 3,800 crore worth deposits, loan worth Rs 4,362 crore has been sanctioned out of which Rs 3,324 crore has been allocated to priority sectors by end of September 2014.

Twelve new branches will be opened in this financial year?and?89 new ATM kioks will be installed in the district, he said.

From Zee News

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