Andhra Bank Fixed Deposit (FD) Interest Rates 2025

Andhra Bank and Corporation Bank have been merged under Union Bank of India. You can visit the Union Bank of India FD Interest Rates page for more details or read the article below to know all the information about fixed/term deposit schemes offered by Andhra Bank, now merged with the Union Bank of India.

RBI has announced a new rule applicable to unclaimed, matured FD accounts. That is the funds in an unclaimed, matured FD account will attract an interest rate as applicable to the savings account or the contracted rate of the matured FD, whichever is lower.

Highlights for 2025 Fixed Deposit Scheme of Andhra Bank

Interest Rates of FD for Andhra Bank for the Year 2025 

Below table provides the interest rates of Andhra Bank, now merged with Union Bank of India, applicable for a deposit amount up to Rs.3 crore and are effective from 2 August 2024.

*Interest rates are subject to change.

Different Types of Andhra Bank FD Schemes

Fixed Deposit Receipt (FDR)
This scheme functions like a regular FD with a minimum deposit of Rs. 1,000. For deposits from subsidies, margin money, earnest money, or court-ordered funds, the minimum deposit limit does not apply. Tenure ranges from 6 to 120 months.

Short Deposit Receipt (SDR)
With a minimum deposit of Rs. 1,000, this scheme offers tenures from 7 to 179 days. Interest is calculated quarterly and paid half-yearly in March or September, depending on the maturity date.

Money Flex Term Deposit (MFTD)
This scheme combines high returns with withdrawal flexibility. Single or joint accounts can be opened, with a minimum deposit of Rs. 25,000 and a maximum of Rs. 2 crore. Tenure ranges from 6 months to 10 years.

Cumulative Deposit Scheme
Ideal for small investors, this scheme allows monthly deposits starting at Rs. 50. Tenure ranges from 6 to 120 months, making it suitable for a wide range of income groups, including salaried individuals.

Deposit Re-Investment Certificate (DRIC)
Interest in this scheme is compounded quarterly and paid with the principal at maturity. The minimum deposit is Rs. 1,000, with no upper limit. Tenure ranges from 6 to 120 months.

Monthly Income Scheme (MIS)
This scheme offers guaranteed monthly income at a fixed interest rate. The tenure ranges from 12 to 120 months, with a minimum deposit of Rs. 1,000.

Union Sumvridhi (333 Days)
Union Sumvridhi provides a higher interest rate for a fixed term of 333 days. The minimum deposit is Rs. 1,000, and the maximum is Rs. 3 crore.

Non-Callable Term Deposits Scheme
Available for single deposits over Rs. 2 crore, this scheme includes options such as Deposit Re-Investment Certificate, Fixed Deposit Receipt, and Short Deposit Receipt. Tenures range from 61 days to 3 years. Premature withdrawal is allowed only in exceptional situations.

Motor Accident Claims Annuity Deposit (MACAD)
Designed for one-time deposits as per court or tribunal directives, this scheme pays out in equated monthly installments (EMIs) that include both principal and interest. The tenure ranges from 36 to 120 months, with a minimum monthly annuity of Rs. 1,000.

Special Features and Benefits of Andhra Bank FD

• The minimum deposit period is seven days for regular FD schemes.
• The minimum deposit amount starts at Rs.1000 and varies based on the scheme selected.
• Premature withdrawal is allowed subject to the scheme chosen and other conditions.
• Senior citizens get 0.5% higher rates as compared to regular customers.
• Nomination facility is available.

Basic Eligibility Criteria for Andhra Bank FD

• Individuals
• Two or more individuals forming joint accounts
• Hindu Undivided Families (HUFs)
• Clubs
• Associations
• Trusts
• Partnership firms
• Limited companies and partnership firms
• Municipalities and panchayats

Tax Benefits on Andhra Bank Fixed Deposit

Andhra Bank, now part of Union Bank of India, offers the Easy Tax Saver Deposit Scheme for taxpayers. Eligible individuals and HUFs with a PAN can benefit from this scheme.

Key features include:

• Maximum deposit limit: Rs. 1.5 lakh per financial year.
• Lock-in period: 5 years.
• Tax benefits: Claim deductions under Section 80C of the Income Tax Act, 1961.

If annual interest exceeds Rs. 40,000, the bank deducts TDS at 10%. The tax on returns depends on your income tax bracket, regardless of the interest rate or other factors.

FD Interest Rate Calculator

Check the returns you may receive from Andhra Bank FD schemes with our easy-to-use FD calculator page.

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