Andhra Bank
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Toll Free Number : 1800 425 1515

   
 
Interest Rates

Repo Linked Deposit Rate (RLDR)-Interest rates on Savings bank deposit accounts w.e.f.23.12.2019

Savings Bank Balance

Rate of Interest

Upto Rs. 1.00 Lakh

3.25% p.a.

AboveRs. 1.00 Lakh and
upto Rs.50.00 Lakhs

Upto Rs. 1 Lakh – 3.25%

Above Rs. 1 Lakh – Up to Rs. 50 Lakh – 2.85% p.a.
(2.30% below RBI’s Repo rate#)

Above Rs.50.00 Lakhs

Upto Rs. 1 Lakh – 3.25%

Above Rs. 1 Lakh – Up to Rs. 50 Lakh – 2.85% p.a.
(2.30% below RBI’s Repo rate#)

Above Rs. 50 Lakh - 3.25 % p.a
(1.90% below RBI’s Repo rate #)


(#At Present Repo Rate @5.15%) 
 The revised rates are applicable to NRO/NRE Savings Bank Deposits also.
 
 
Domestic Term Deposits: (w.e.f  03.12.2019)
   
 Sl.No  Tenor  Less than Rs.2 Crore  Rs.2 Crore to Rs.10 Crore  More than Rs.10 Cr. to Rs. 25 Cr. 
 1  7 days to 45 days (#)  3.50  3.50  3.75
 2  46 days to 90 days  5.00  5.00  4.50
 3  91 days to 179 days  5.00  5.00  4.50
 4  6 months to < 9 months  5.75  5.75  5.75
 5  9 months to < 1year  5.75  5.75  5.75
 6  1 year to 2 years  6.00  6.00  6.00
 7  above 2 years to 3 years  6.10  6.10  6.10
 8  above 3 years to 5 years  6.10  6.10  6.10
 9  above 5 years to 10 years  6.10  6.10  6.10
 (#) 7 days to 14 days deposits are applicable to Rs.1,00,000/- and above only

Branches are strictly advised to obtain prior permission from General Manager, Corporate Planning Dept., H.O. before quoting and accepting Deposits of above Rs. 25 Cr.

ØFor Resident Indian Senior Citizens, the additional rate of interest of 0.50% over and above the card rate is applicable.
 

 NRE ACCOUNTS With effect from 03.12.2019

Rates of interest on NRE term deposits have been revised with effect from 03.12.2019 With this revision, the interest rates offered on NRE term deposits for different maturity periods are as under

Period Rate of Interest (%) p.a.
  Less than Rs.2 Crore Rs.2 Crore to Rs.10 Crore More than Rs.10 Cr. to Rs. 25 Cr. 
ONE Year to 2 Years 6.00 6.00   6.00
Above 2 Years to 3 years 6.10 6.10  6.10
Above 3 Years to 5 years 6.10 6.10  6.10
Above 5 Years to 10 Years   6.10
 6.10  6.10

The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from  03.12.2019.
*For Deposits of above Rs. 25.00 Crore branches should obtain permission from General Manager, Corporate Planning Department, Head Office before accepting the Deposit. · Senior Citizen and Staff Rate of interests are not applicable for NRE/NRO Deposits.


 FCNR(B) Deposits : Interest Rates w.e.f., February 01st, 2020

The revised interest rates on FCNR [B]/RFC Deposits with effect from February 01st, 2020 are as under:


Currency 1 Year & above but less than 2 Years 2 Years & above but less than 3 Years 3 Years & above but less than 4 Years 4 Years & above but less than 5 Years 5 years
USD 2.59 2.45 2.40 2.36 2.37
GBP 1.68 1.69 1.68 1.68 1.68
EUR 0.65 0.64 0.66 0.69 0.73
AUD 1.71 1.65 1.65 1.77 1.82

 

Base Rate @ 9.45% p.a w.e.f. 16.09.2019.
Andhra Bank's BMPLR (Bench Mark Prime Lending Rate) @ 13.85% p.a with effect from 16.09.2019 Andhra Bank introduced Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 01.04.2016 applicable for all fresh loans sanctioned as well as renewals on or after 01.04.2016.

The MCLR effective from 15.02.2020 for different tenors are as under:

Tenor MCLR
Overnight 7.75%
One month 7.80%
Three month 8.00%
Six Month 8.15%
One Year    8.20%

 

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