Andhra Bank
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AB Dhana Vrudhi Retail
 AB Dhana Vrudhi Retail
Title of the Scheme "Dhana Vrudhi Retail” Term Deposit Scheme for 400 days
Type of deposit Fixed Term and Reinvestment Deposits are accepted
Amount of Deposit Minimum Rs.10,000/- and Maximum - Less than Rs.1 crore
Period of deposit 400 days
Rate of interest 7.05 % per annum
Premature withdrawal No Premature cancellation charges. (Interest rate as applicable for the run period is payable in case of premature cancellation without penalty).
Period of operation The scheme will be in operation from 10/04/2018 to 31.03.2019.
Loan facility Existing guidelines on allowing of Loans/overdrafts against Bank’s Term Deposits will apply.
General aspects

Nomination facility as per existing guidelines is available. Senior Citizens are eligible for 0.50% additional rate of interest.

Existing / Retired staff are eligible for preferential ROI on Deposits and concessional ROI on Loans / Overdrafts as per extant guidelines.

All other guidelines applicable with regard to acceptance, payment and transfer of term deposits apply to the deposits accepted under the scheme.

Option for auto renewal is not permitted for this scheme.