Andhra Bank
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Toll Free Number : 1800 425 1515

   
 
Interest Rates

Interest rates on Savings bank deposit accounts w.e.f.16.06.2020

Savings Bank Balance

Rate of Interest

Savings Bank Account irrespective of the amount

3.00% p.a.

 
 
Domestic Term Deposits: (w.e.f  01.09.2020)
   
 Period  Rate of Interest (< 2 Cr)
 7-14 Days  3.00 %
 15-30 Days  3.00 %
 31-45 Days  3.00 %
 46-90 Days  3.75 %
 91-120 Days  4.25 %
 121-180 Days  4.30 %
 181 Days to < 1 Year  4.50 %
 1 Year  5.25 %
 >1 Year  to 3 Years  5.25 %
 >3 Years to 5 Years  5.30 %
 >5 Years to 10 Years  5.40 %
 

 NRE ACCOUNTS With effect from 01.09.2020
 

Rates of interest on NRE term deposits have been revised with effect from 01.09.2020  With this revision, the interest rates offered on NRE term deposits for different maturity periods are as under

Period Rate of Interest (< 2 Cr)
1 Year 5.25 %
> 1 Year to 3 Years 5.25 %
> 3 Years to 5 Years 5.30 %
> 5 Years to 10 Years 5.40 %

The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from  01.09.2020


 FCNR(B) Deposits : Interest Rates w.e.f., 01.10.2020

The revised interest rates on FCNR [B] Deposits with effect from 01.10.2020  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 <300,000   0.93 0.78 0.86 0.82 0.84
 USD >=300,000  0.93  0.88  0.96 0.92 0.94 
GBP 0.49 0.49 0.52 0.56 0.59
EUR 0.01 0.01 0.01 0.01 0.01
AUD 0.16 0.19 0.23 0.27 0.33
 JPY  0.01 0.04 0.04 0.04 0.05
 CAD  0.73 0.60 0.66 0.74 0.86

 RFC Deposit interest rate with effect from 01.10.2020  are as under:

 CURRENCY 6 MONTHS to < 1YR  1YR to <2YRS  2YRS to <3 YRS  3 YRS 
USD < 300,000  0.93 0.93  0.78  0.86
USD > = 300,000  0.93 0.93 0.88 0.96 
 GBP  0.49 0.49  0.49 0.52 
 EUR  0.01 0.01  0.01  0.01 
 JPY  0.01 0.01  0.04 0.04
 CAD  0.73  0.73 0.60  0.66 
 AUD  0.16  0.16  0.19 0.23
 

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 16.03.2020 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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