Andhra Bank
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Toll Free Number : 1800 425 1515

   
 
Interest Rates

Interest rate on Savings bank deposit accounts w.e.f. 15-09-2017: 3.5 % p.a (up to Rs. 50 Lakhs) & 4.0 % p.a. (above Rs. 50 Lakhs)

 bulateInterest Rates on Domestic Term Deposits for the sizes less than Rs. 2 Crore, Rs. 2 Crore to Rs.10 Crores and Rs.10 Crore to 25 Crores w.e.f. 01.09.2019.

Rates of Interest on Domestic Term Deposits have been revised with effect from 01.09.2019. With this revision, the interest rates offered on domestic term deposits inclusive of NRO deposits for various periods are as under

Sr.
No.
Maturity Period Rates of interest (%) per annum
Less than 
Rs.2 crore
Rs.2 Cr to Rs.10 Cr 
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 5.50 5.50  5.75 
3 91 days to 179 days 5.75 5.75   5.75 
4 6 months to < 9 months 5.75 5.75   5.75 
5 9 months to < 1 year 6.00   6.00   5.75 
6 1 year to 2 years 6.60 6.45 6.35 
 7 Above 2 years to 3 years 6.50 6.40  6.00
8 Above 3 years to 5 years 6.50 6.40 6.00 
9 Above 5 years to 10 years  6.50    6.40   6.00 

# For deposits of Rs.1.00 Lac and above.
The additional rate of interest of 0.50% p.a. being offered to Senior Citizens is extended to all the Domestic
Term Deposits beyond Rs. 1.00 crore without any cap on the amount of deposit. However, for the deposit of Rs. 1.00 crore and above the minimum tenor should be minimum 6 months & above. Senior Citizens are required to submit a declaration stating that the monies deposited or which may be deposited from time to time into that account belong to the depositor only.  
                                    

Interest Rates on Domestic Term Deposits for the size of above Rs. 25 Crores
 
Please contact nearest Branch for rate of Interest on deposits for above Rs. 25 Crores.
 
 
Payment of interest on fixed deposit-method of calculation of interest   (a) On Fixed deposits for less than 6 months duration i.e., up to 179 days, interest should be calculated for the actual number of days on the basis of 365 days in a year.
(b) On Fixed Deposits for 6 months duration or more but less than one year, interest should be calculated in the following manner:  
(i) For completed months  On monthly basis
 (ii) For incomplete month i.e., for days, if any  For actual number of days on the basis of 365 days in a year.

 (c) If the fixed deposit contains terminal incomplete quarter, interest should be calculated as follows:

 (i) Where interest is paid at quarterly/half years intervals  Interest at contracted rate shall be paid
(ii) Where monthly interest is paid (a) Up to penultimate month: Interest shall be paid at discounted rate.
(b) For the terminal complete/incomplete month: Actual interest shall be paid at contracted rate.
   
 NRE ACCOUNTS With effect from 01.09.2019

Rates of interest on NRE term deposits have been revised with effect from 01.09.2019 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
ONE Year to 2 Years 6.60 6.45 
Above 2 Years to 3 years 6.50 6.40
Above 3 Years to 5 years 6.50 6.40
Above 5 Years to 10 Years   6.50
 6.40

The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from      01.09.2019.
*For Deposits of above Rs. 10.00 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., August  01st, 2019

The revised interest rates on FCNR [B]/RFC Deposits with effect from September 01st, 2019 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 2.80 2.54 2.42 2.37 2.34
GBP 1.67 1.65 1.62 1.60 1.59
EUR 0.51 0.45 0.44 0.45 0.48
AUD 1.84 1.73 1.73 1.82 1.86


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 16.09.2019 for different tenors are as under:

Tenor MCLR
Overnight 7.90%
One month 7.95%
Three month 8.15%
Six Month 8.30%
One Year 8.40%
 

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