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Andhra Bank Fixed Deposit Rates

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 The maturity amount can be withdrawn at the end of the fixed period.

Andhra Bank FD Interest Rates

For regular FD account, the rate of interest is as follows.

Investment PeriodFD rates for Regular depositsFD rates for Senior Citizen
7 days to 14 days4.00%4.50%
15 days to 45 days5.25%5.00%
46 days to 90 days6.00%5.75%
91 days to 179 days6.26%6.50%
6 months to 8 months 29 days6.26%6.75%
9 months to 364 days6.60%6.75%
1 year6.60%7.00%
1 year 1 day to 2 years6.80%7.00%
2 years 1 day to 10 years6.50%6.75%

For Domestic Deposits - Less than 1 Crore

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.

TenureFD Interest Rate p.a. General Public
7-14 days4.00%
15-45 days5.25%
46-90 days6.00%
91 days < 9 months6.26%
270 days < 12 months6.60%
1-2 years6.80%
Above 24 months-60 months6.75%
Above 60 months-120 months6.50%

For Domestic Deposits - ₹2 Crore to less than ₹10 Crore

TenureFD Interest Rate p.a.General Public
7-14 days4.00%
15 days < 1 year6.26%
1 year-1 year 6 months6.90%
Above 1 year 6 months-2 years6.51%
Above 24 months-120 months6.25%

Note: The additional rate of interest of 0.50% p.a. being offered to Senior Citizens is extended to all the Domestic

For Domestic Deposits

Above ₹10 Crore to less than ₹50 Crore- Please contact nearest Branch for rate of Interest on deposits for above Rs. 10 Crores.

For Domestic Deposits

Above ₹50 Crore to less than ₹100 Crore- Please contact nearest Branch for rate of Interest on deposits for above Rs. 10 Crores.

For Domestic Deposits

₹100 Crore and above- Please contact nearest Branch for rate of Interest on deposits for above Rs. 10 Crores.

For NRO - Less than ₹1 Crore and For NRO - ₹1 Crore to less than ₹10 Crore

PeriodRate of Interest (%) Less than Rs.1 CroreRate of Interest (%) Rs.1 Crore to Rs.10 Crore
ONE Year to 18 Months6.806.90
Above 18 Months to 2 Years6.806.51
Above 2 Years to 3 years6.756.25
Above 3 Years to 5 years6.756.25
Above 5 Years to 10 Years 6.506.25

The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from 10.09.2018.

For NRO

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.

For NRO

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.

For NRO

₹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.

For NRE - Less than ₹1 Crore

PeriodRate of Interest
1 year to 18 months6.80%
18 months to 2 years6.80%
2 years to 3 years6.75%
3 years to 5 years6.75%
5 to 10 years6.50%

For NRE - ₹1 Crore to less than ₹10 Crore

PeriodRate of Interest
1 year to 18 months6.90%
18 months to 2 years6.51%
2 years to 3 years6.25%
3 years to 5 years6.25%
5 to 10 years6.25%

Tax Saver FD - Max Deposit is ₹ 1.50 lac per annum

AB Tax SaverFD Interest Rate p.a. General PublicFD Interest Rate p.a. Senior Citizens
5 years6.50%N/A

Note: These rates were applicable with effect from 16th November 2016

Andhra Bank FD Features

  • Easy mode of investment with high returns.
  • Facility of Nomination.
  • Upon maturity, the simple interest is paid to the depositor.
  • The interest is paid on a monthly/quarterly basis.

Andhra Bank FD Eligibility Criteria

  • Account holder of the Bank.
  • Above 18 years of age with a PAN.
  • An Individual or A Hindu Undivided Family (Only IT Assessees with PAN)

Tax Benefits on Andhra Bank FD Account

  • The tax benefit under Section 80C of the Income Tax Act, 1961 is applicable on an FD deposited for a mandatory 5 year lock-in period.
  • Only interest earned above ₹10,000 will be subject to income tax under TDS.

Rates and Fees to open Andhra Bank FD Account

  • There is no such fee for opening an FD with Andhra Bank.
  • Premature withdrawal will attract a penalty as per the bank branch.

Documents Required to open an Andhra Bank FD Account

The following documents are required to open an Andhra Band FD Account-

  • Self-attested copy of PAN and original.
  • Application Form.
  • 2 Passport Size Photographs.
  • In case you are already an account holder, you can easily open an FD account online via your net banking ID and Password without any documentation.

FAQ's On Andhra Bank Fixed Deposit Rates

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.

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