Andhra Bank FD Rates

Fixed Deposits are one of the most beneficial financial instruments offered by banks. They allow you to save money on tax, nomination facility, loan against FD for the future and earn interest periodically on maturity. Amongst a large number of banks that offer fixed deposit services, Andhra Bank is a name that stands out. Founded in 1923, it is a trusted public sector bank with a large network of branches across India.

The best part is the Andhra bank FD interest rates. The Andhra bank FD rates vary from 3.00% per annum to 7.30% annually. The maximum Andhra bank fixed deposit interest rate is 7.30% p.a. for a tenure of five to ten years. Also, Andhra Bank and Union Bank of India merged successfully.

Andhra Bank Term Deposits (Domestic) Less than ₹2 Crore
Types of Andhra Bank Fixed Deposit Schemes
Andhra Bank Fixed Deposit Rates 2022 – More Than ₹2 Crore
Andhra Bank Tax Saving FD Rates
Andhra Bank NRI Fixed Deposit Rates
Andhra Bank NRE FD Rates
Andhra Bank FCNR (B) Deposit Interest Rates
Features & Benefits of Andhra Bank Fixed Deposits
Eligibility Criteria of Andhra Bank Fixed Deposits
Application Form for Andhra Bank Fixed Deposit
Essential Documents for Opening an Andhra Bank Fixed Deposit Account
FAQ’s on Andhra Bank FD Rates:-

Andhra Bank Term Deposits (Domestic) Less than ₹2 Crore

It is no surprise for banks to change fixed deposit rates from time to time. Andhra Bank is no exception. If you are interested in opening a fixed deposit account with a deposit of less than ₹2 Crore, then take a look at the table below:-

Time Period	General Public FD interest rate (p.a) %
7 days – 14 days	3
15 days – 30 days	3
31 days – 45 days	3
46 days – 90 days	4.05
91 days – 120 days	4.3
121 days – 180 days	4.4
181 days < 1 year	5.25
1 year	6.3
1 Year – 598 Days	6.3
599 Days	7
600 Days – 699 days	6.3
700 days	7.25
700 days – 2 year	6.3
2 year – 799 days	6.3
800 days	7.3
801 days < 3 Year	6.3
3 years	7.3
More than 3 years – 5 years	6.7
More than 5 years – 10 years	6.7

NOTE: These Andhra Bank FD interest rates may not remain the same by the time you apply for a Fixed Deposit. These changes depend on the bank’s latest terms, conditions or RBI’s instruction.

Types of Andhra Bank Fixed Deposit Schemes

Andhra Bank FD rates differ depending on the type of deposit you choose to make. You can read about the different types of fixed deposits. These are as follows:-

Union Tax Saver Deposit
Deposit Reinvestment Certificate
Union Monthly Plus
Fixed Deposit Receipt
Monthly Income Scheme
Easy Tax Saver Deposit Scheme
Cumulative Deposit
Short Deposit Receipt
Andhra Bank Loan Against FD

Andhra Bank Fixed Deposit Rates 2022 – More Than ₹2 Crore

Here are the latest rates for people who are interested in opening a fixed deposit within the range of ₹ 2 Crore to ₹ 10 Crore. Please remember Andhra Bank FD rates may change depending on the bank’s latest terms, conditions or RBI’s instruction.

ANDHRA BANK FIXED DEPOSIT RATES
Tenure	Deposit Rates (from ₹2 Crore to ₹10 Crore )
7 – 45 days	3.50% per annum
46 -90 days	5.00% per annum
91-79 days	5.00% per annum
6 months – < 9 months	5.75% per annum
9 months to < 1 year	5.75% per annum
1-2 years	6.00% per annum
> 2-3 years	6.10% per annum
> 3-5 years	6.10% per annum
> 5-10 years	6.10% per annum

Andhra Bank Tax Saving FD Rates

Andhra bank FD rate for Tax saving accounts is 6.70% for 5 years.

Note: Rates for fixed deposits with Andhra Bank may fluctuate at the bank’s discretion. The prices shown are valid as of March 25, 2023.

Andhra Bank NRI Fixed Deposit Rates

NRIs (non-resident Indians) have a variety of Term Deposit and Fixed Deposit (FD) programmes to choose from. Non-Resident Ordinary (NRO), Foreign Currency Non-Resident (Bank) (FCNR (B)), and Non-Resident External (NRE) Fixed Deposits are among the programmes.

Andhra Bank NRE FD Rates

You can read the Andhra Bank NRE FD Rates below:-

Time -Period	Interest Rate p.a. (%)
1 Year	6.3
1 Year – 598 Days	6.3
599 Days	7
600 Days – 699 days	6.3
700 days	7.25
700 days – 2 Years	6.3
2 year – 799 days	6.3
800 days	7.3
801 days < 3 Year	6.3
3 Years	7.3
More than 3 Years – 5 Years	6.7
More than 5 Years – 10 Years	6.7

Note: The interest rate in the table is in use from 25 March 2023. Further, senior citizen and staff rates of interest are not applicable for NRE/NRO deposits.

Andhra Bank FCNR (B) Deposit Interest Rates

You can read the FD rates for Andhra Bank Foreign Currency Non-Resident (Bank) deposits against distinct foreign currencies:-

Time-Period	CAD	JPY	USD	GBP	EUR
1 year < 2 years	4.08	0.06	4.25	3.22	1.25
2 years < 3 years	3.6	0.1	3.25	3.5	1.25
3 years < 4 years	3.3	0.1	3.35	3.25	1.25
4 years < 5 years	3.25	0.11	3.4	3	1.25
5 years	3.25	0.12	3.25	3	1.25

Note: The Andhra Bank FCNR (B) Fixed Deposit interest rates manage to change at the discretion of the bank.

Features & Benefits of Andhra Bank Fixed Deposits

Before choosing an Andhra Bank Fixed Deposit, read the benefits and features written below:-

The minimum deposit must be ₹1,000.
The minimum tenure begins from six months and can go up to a decade up to ten years
No limit to the maximum deposit on Andhra Bank FDs.
The interest will be payable either on a half-yearly or quarterly basis.
A premature FD closure feature is available but, with a penalty.

Eligibility Criteria of Andhra Bank Fixed Deposits

The eligibility criteria for opening an FD with Andhra Bank are as follows:-

Non-Resident Individuals
Resident individuals
Clubs
Trusts
Societies
Minors
Associations
Blind individuals
Illiterate individuals
Pardanashin ladies

Application Form for Andhra Bank Fixed Deposit

Downloading the application form for Andhra Bank fixed deposit is effortless and straightforward. You just need to visit the official Andhra Bank website, click on “Deposit” and select the “Fixed Deposit” option.

The form will require you to enter details like your full name, date of birth, mobile number, TDS details, PAN number and more.

Essential Documents for Opening an Andhra Bank Fixed Deposit Account

You need the following documents to open an Andhra Bank FD account:

PAN Card (A self-attested copy and original)
Properly filled application form
Passport size photographs (at least 2)

Those who already have an account with Andhra Bank can easily open a Fixed Deposit via online/net banking. For that, they just need to enter their net banking details such as ID and password. The best part is this process does not require any documents.

You May Also Read

Fixed Deposit Top Pages	Fixed Deposit Other Pages
Fixed Deposit	SBI Fixed Deposit Interest Rates
Fixed Deposit Under Section 80C	Karur Vyasa Bank Fixed deposit
Loan against Fixed Deposit	Tamilnad Mercantile Bank FD Rates
Flexi Fixed Deposit	Allahabad Bank FD Rates
Term Deposit	SBI Fixed Deposit
15G and Forms 15H	SBI Fixed Deposit Interest Rate
NRO Fixed Deposit	Open FD in SBI Online

FAQ’s on Andhra Bank FD Rates:-

What is Andhra Bank’s highest interest rate for fixed deposits?

5.60% per annum is the highest interest rate for fixed deposits that Andhra bank charges. The tenure for this interest rate ranges from 5 to 10 years.

What are the current Andhra Bank FD interest rates in 2023?

The Andhra Bank FD interest rates vary from 3.00% p.a. to 7.30% p.a.

Can my Andhra Bank FD amount be doubled? If yes, how long will it take?

Yes, you can double your amount by choosing an Andhra Bank Fixed Deposit. However, it may take some time. You will have to be patient during the process. A great way to analyse it is by dividing 72 by the yearly interest rate of your fixed deposit contract.