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Andhra Bank is one of the top public sector banks of India. It has a network of 2900 branches, 4 extension counters, 38 satellite offices and 3636 ATMs across India. Andhra Bank provides the facility of a Fixed Deposit. A Fixed Deposit is a deposit account under which you are required to deposit a specific amount at a predefined rate of interest for a selected time period. The maturity amount can be withdrawn at the end of the fixed period.
For regular FD account, the rate of interest is as follows.
|Investment Period||FD rates for Regular deposits||FD rates for Senior Citizen|
|7 days to 14 days||4.00%||4.50%|
|15 days to 45 days||5.25%||5.00%|
|46 days to 90 days||6.00%||5.75%|
|91 days to 179 days||6.26%||6.50%|
|6 months to 8 months 29 days||6.26%||6.75%|
|9 months to 364 days||6.60%||6.75%|
|1 year 1 day to 2 years||6.80%||7.00%|
|2 years 1 day to 10 years||6.50%||6.75%|
Andhra Bank offers good rate of interest on FDs. Mentioned below are the rates as per different criteria.
Note: FD rates are always revised by the bank and are subject to change.
|Tenure||FD Interest Rate p.a. General Public|
|91 days < 9 months||6.26%|
|270 days < 12 months||6.60%|
|Above 24 months-60 months||6.75%|
|Above 60 months-120 months||6.50%|
|Tenure||FD Interest Rate p.a.General Public|
|15 days < 1 year||6.26%|
|1 year-1 year 6 months||6.90%|
|Above 1 year 6 months-2 years||6.51%|
|Above 24 months-120 months||6.25%|
Note : The additional rate of interest of 0.50% p.a. being offered to Senior Citizens is extended to all the Domestic
Above ₹10 Crore to less than ₹50 Crore- Please contact nearest Branch for rate of Interest on deposits for above Rs. 10 Crores.
Above ₹50 Crore to less than ₹100 Crore- Please contact nearest Branch for rate of Interest on deposits for above Rs. 10 Crores.
₹100 Crore and above- Please contact nearest Branch for rate of Interest on deposits for above Rs. 10 Crores.
|Period||Rate of Interest (%) Less than Rs.1 Crore||Rate of Interest (%) Rs.1 Crore to Rs.10 Crore|
|ONE Year to 18 Months||6.80||6.90|
|Above 18 Months to 2 Years||6.80||6.51|
|Above 2 Years to 3 years||6.75||6.25|
|Above 3 Years to 5 years||6.75||6.25|
|Above 5 Years to 10 Years||6.50||6.25|
The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from 10.09.2018.
Above ₹10 Crore to less than ₹50 Crore- For Deposits of above Rs. 10.00 Crore branches should obtain permission from General Manager, Corporate Planning Department, Head Office before accepting the Deposit.
Above ₹50 Crore to less than ₹100 Crore- For Deposits of above Rs. 10.00 Crore branches should obtain permission from General Manager, Corporate Planning Department, Head Office before accepting the Deposit.
₹100 Crore and above- For Deposits of above Rs. 10.00 Crore branches should obtain permission from General Manager, Corporate Planning Department, Head Office before accepting the Deposit.
|Period||Rate of Interest|
|1 year to 18 months||6.80%|
|18 months to 2 years||6.80%|
|2 years to 3 years||6.75%|
|3 years to 5 years||6.75%|
|5 to 10 years||6.50%|
|Period||Rate of Interest|
|1 year to 18 months||6.90%|
|18 months to 2 years||6.51%|
|2 years to 3 years||6.25%|
|3 years to 5 years||6.25%|
|5 to 10 years||6.25%|
|AB Tax Saver||FD Interest Rate p.a. General Public||FD Interest Rate p.a. Senior Citizens|
Note: These rates were applicable with effect from 16th November 2016
The following documents are required to open an Andhra Band FD Account-
What is Andhra Bank Double Deposit Plan?
This type of FD aims to double the investment of the depositor over time. Depositors are required to submit certain sums for a fixed period of time. The interest earned on the sum doubles the investment. This scheme is offered by Andhra Bank in 2008.
How should I start investing in FD Account of Andhra Bank Online?
Simply login to your internet banking account with your registered user ID and Password. Select the service request option and choose the open FD/RD tab. Under this tab, you can select the amount of deposit/time period to be submitted in the FD.