Andhra Bank NRI Account Interest Rate

Andhra Bank Fixed Deposit Interest Rate

“Andhra Bank” was founded by the eminent freedom  fighter and a multifaceted genius, Dr. Bhogaraju Pattabhi Sitaramayya. The Bank was registered on 20th November 1923 and commenced business on 28th November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs.

Our Vision is to become a significant player, providing full range of banking services through innovative customer centric products and to maximize stake holders’ value

Our mission is to work together towards delivering excellent customer service by leveraging on technology and human resources to attain world class performance standards.

Interest Rates on Savings Bank Accounts :

4.00% per annum on Domestic Savings Deposits, Ordinary Non-Resident (ONR) Savings deposits and Savings Deposits under Non- Resident (External) (NRE SB) Accounts w.e.f., 03.05.2011

Interest Rates on Domestic Term Deposits w.e.f., 07.10.2013

Rates of Interest on Domestic Term Deposits have been revised with effect from 07.10.2013. With this revision, the interest rates offered on domestic term deposits for various periods are as under

Sr.
No.

Maturity PeriodRates of interest (%) per annum
Less than Rs.15.00 LacsRs.15.00 Lacs to < Rs.1.00 croreRs.1.00 Crore to Rs.10.00 CroreAbove Rs.10 Crore to Rs.50 Crore *Above Rs.50 Crore to Rs.100 Crore *Above Rs.100 Crore *

1

7 days to 14 days #5.005.005.005.005.005.00

2

15 days to 45 days5.005.005.005.005.005.00

3

46 days to 90 days8.108.108.108.108.108.10

4

91 days to 179 days8.258.258.258.258.258.25

5

6 months to < 9 months9.109.109.109.109.109.10

6

9 months to < 1 year9.109.109.109.109.109.10

7

1 year to 443 days9.109.109.109.109.109.10

8

444 days9.409.409.409.409.409.40

9

445 days to 2 years9.109.109.109.109.109.10

10

Above 2 years to 3 years8.758.758.758.508.508.50

11

Above 3 years to less than 7 years 7 months8.758.758.758.508.508.50

12

7 years 7 months9.259.259.259.259.259.25

13

Above 7 years 7 months to 10 years8.758.758.758.508.508.50

# For deposits of Rs.1.00 Lac and above.

^For deposits of above Rs.10.00 Crore, depositors are requested to contact their respective branches for obtaining necessary permission from Head Office.

$Depositors are requested to note that deposits of above Rs.10.00 Crore will be accepted by branches subject to administrative clearance from Head Office

* For Deposits of above Rs.10.00 Crore, branches should obtain permission from General Manager, Corporate Planning Department, Head Office before accepting the Deposit.

For Senior Citizens, the rate of interest is 0.50% higher for all maturity periods. Existing / Retired Staff are eligible for additional rate of interest as per rules.

FCNR(B) Deposits : Interest Rates w.e.f., October 01, 2013

The revised interest rates on FCNR [B] Deposits with effect from October 01, 2013 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

 NewExistingNewExistingNewExistingNewExistingNewExisting
USD2.63[2.67]2.48[2.57]4.77[4.95]5.16[5.38]5.53[5.77]
GBP2.87[2.87]2.83[2.84]5.12[5.13]5.44[5.45]5.71[5.73]
EUR2.47[2.48]2.57[2.64]4.77[4.87]5.00[5.13]5.24[5.36]
CAD3.49[3.37]3.47[3.56]5.73[5.83]6.01[6.11]6.24[6.34]
AUD4.52[4.51]4.79[4.76]7.08[7.07]7.39[7.39]7.61[7.63]
JPY2.41[2.41]2.26[2.27]4.29[4.31]4.34[4.36]4.41[4.45]
CHF2.24[2.24]2.19[2.23]4.33[4.39]4.52[4.60]4.73[4.82]
DKK2.66[2.67]2.82[2.89]5.04[5.11]5.30[5.41]5.54[5.67]
NZD4.92[4.93]5.45[5.45]7.87[7.86]8.15[8.15]8.37[8.39]
SEK3.33[3.40]3.56[3.69]5.82[5.97]6.11[6.21]6.23[6.40]

[Figures in brackets denote previous month interest rates]

The above interest rates on FCNR (B) Deposits are applicable only to the fresh and renewed deposits from October 01, 2013.

NRE ACCOUNTS With effect from 16.09.2013

Rates of interest on NRE term deposits have been revised with effect from 16.09.2013 With this revision, the interest rates offered on NRE term deposits for different maturity periods are as under

PeriodRate of Interest (%) p.a.
Less than Rs.1 CroreRs.1 Crore to Rs.10 Crore
1year to 2 Years9.009.00
Above2 Years – up to 3 years9.159.15
Above 3 Years – up to 5 years8.508.50
Above 5 Years- up to 10 years8.508.50

The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from 16.09.2013

*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.

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