Andhra Bank is sanctioning Non Fund limits basing on the customer needs.
All types of customers namely Corporates, Firms, Sole proprietary concerns, individuals are eligible for the limits.
Non Fund limits include Inland Letter of Credit, Foreign Letter of Credit, Inland Bank Guarantee, Foreign Bank Guarantee and Deferred Payment Guarantee.
ILC/FLC are issued on behalf of the customers for acquiring machinery, materials and services.
Bank Guarantees are issued towards deferrement of taxes, Earnest Money Deposit, Security Deposit and performance of contracts.
Deferred Payment Guarantees are issued to cover payment of instalments.
Margin and charges depend on the credit rating and credit worthiness of the customer.