About Andhra Bank Fixed Deposit
Savings is good, but investments are better. We are aware of the different deposit schemes but hardly care enough to try it for ourselves. Everyone wants benefits and banks are fulfilling the requirements of the customer by providing investment solutions.
Andhra Bank is a public-sector bank that has brought some fixed deposit schemes having interest rates competitive to that of other banks. Like other banks, FD rates of Andhra Bank change from time to time depending on the bank and the general finance market. Here are the Andhra Bank Fixed Deposit schemes, interest rates, and other important details for an individual to open an FD account in Andhra Bank.
Andhra Bank Fixed Deposit Schemes:
- Domestic Deposits
- Tax-Saver Fixed Deposit
Andhra Bank FD Interest Rates June 2023
| Period of Deposit | Less Than ₹ 2 Crore | ₹2 Crore - ₹10 Crore | ₹10 Crore - ₹25 Crore |
|---|---|---|---|
| 7 Days – 45 Days | 3.50% | 3.50% | 3.75% |
| 46 Days – 90 Days | 5.00% | 5.00% | 4.50% |
| 91 Days – 179 Days | 5.00% | 5.00% | 4.50% |
| 6 Months to < 9 Months | 5.75% | 5.75% | 5.75% |
| 9 Months to < 1 Year | 5.75% | 5.75% | 5.75% |
| 1 Year to 2 Years | 6.00% | 6.00% | 6.00% |
| 2 Years to 3 Years | 6.10% | 6.10% | 6.10% |
| 3 Years to 5 Years | 6.10% | 6.10% | 6.10% |
| 5 Years to 10 Years | 6.10% | 6.10% | 6.10% |
Note – FD interest rates for senior citizens are 0.50% more for all periods of maturity up to 1 crore only
Eligibility Criteria
- Individuals
- Senior Citizens
- NRIs and Indan Residents
- Partnership Firms
- Public & Private Limited Companies
- HUFs
- Specified Associations
- Trusts & Society
Documents Required
The documents that are required to open the fixed deposit account in Andhra bank are given below:
| Identity Proof | Address Proof |
|---|---|
| Passport | Passport |
| PAN Card | Telephone Bill |
| Voter ID Card | Electricity Bill |
| Driving License | Bank Statement with Cheque |
| Government ID Card | Certificate/ID Card issued by Post Office |
| Photo Ration Card | |
| Senior Citizen ID Card |
Steps to Apply
1. Fill Andhra Bank FD Application Form
2. Submit the documents along with the completed application form to the nearest branch.
Andhra Bank FD Calculator
The fixed deposit interest rates can be calculated by using Andhra Bank FD calculator. You have to fill the deposited amount, period of deposit, and form of deposit to know the total amount at the maturity level.
Andhra Bank Tax Savers Fixed Deposits
To avail the tax benefits under Section 80C of the Income Tax Act, the depositor has to fix the money for a period of 5 years. The amount deposited should be less than ₹ 1.5 lakh.
| Period of Deposit | Amount of Deposit | Rate of Interest (%) per annum |
|---|---|---|
| AB Tax Saver – 5 Years | Less Than ₹15 lakhs | 6.50% |
Andhra Bank FD Application Form
The application form of Andhra Bank FD is available on the website. You can download the form, fill the details properly identical with the documents submitted.
Andhra Bank Customer Care
For any further enquiry regarding fixed deposit schemes, you can simply contact the nearest branch or dial customer care toll-free number: 1800 425 1515
