For opening a fixed deposit with ease, and at attractive interest rates, Andhra Bank Fixed Deposit is a good move.
Andhra Bank FD Interest Rates for different Investment Periods
|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||4.50%||5.00%|
|46 days to 90 days||5.25%||5.75%|
|91 days to 179 days||6.00%||6.50%|
|6 months to 8 months 29 days||6.25%||6.75%|
|9 months to 364 days||6.25%||6.75%|
|1 year 1 day to 2 years||6.50%||7.00%|
|2 years 1 day to 10 years||6.25%||6.75%|
The above rates are applicable for deposits of below Rs. 1 crore.
Andhra Bank FD Interest Rates
Andhra Bank offers multiple fixed deposit options to their customers to park their surplus savings for a fixed tenure. A customer is required to make a deposit once into their FD account at the time of opening the account with the bank. The customer is not allowed to deposit more money and withdraw any money in the account during the tenure of the deposit. Fixed Deposits of Andhra Bank have a higher interest rate compared to their saving deposits. Benefits of opening an FD account in Andhra Bank are:
- Interest will be paid on monthly basis at discounted rate or quarterly basis as desired by the depositor
- Nomination facility is available
- Simple interest is paid on maturity of the deposit
- Easy investment with attractive returns
FD in Andhra Bank– Premature Withdrawal
Premature closure of Term Deposit with Andhra Bank is along with the lower interest rate of than the contracted rate. The penal provisions for premature closure on Andhra Bank FD are subject to change from time to time and may also vary with deposit schemes.
Loan against Fixed Deposit Andhra Bank
Andhra Bank offers a loan up to 0% against its own deposit. Note that Andhra Bank will not give you the loan against FD of any other bank. Andhra Bank offers Loan against FD at the rate of 5% to 7.75%
Maximum loan tenure is restricted up to the maximum tenure of the FD.
Documents required to open Fixed Deposit Account in Andhra Bank
- PAN Card
- 2 Photographs