Andhra Bank
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Toll Free Number: 1800 425 1515

Anytimers

 
Service Charges & Fees
 
 bulate Deposit Account
Nature
Rate of interest(%)
Minimum Balance
(In Rupees)
 
Normal
Senior Citizen
Rural
Semi Urban
Urban
Account
1 Savings Bank Account
A Domestic
a With cheque book facility
4.00
4.00
250
250
500
b Without cheque book facility
4.00
4.00
100
250
250
c No Frills Account
4.00
4.00
5
5
5
B Non Resident
a NRO
4.00
4.00
250
250
500
b NRE
4.00
4.00
250
250
500
 
 bulateInterest Rates on Domestic Term Deposits for the size of less than Rs. 1 Crore and Rs. 1 Crore to Rs. 10 Crores w.e.f., 12.04.2016

Rates of Interest on Domestic Term Deposits have been revised with effect from 12.04.2016. With this revision, the interest rates offered on domestic term deposits for various periods are as under

Sr.
No.
Maturity Period
Rates of interest (%) per annum
Less than 
Rs.1.00 crore
Rs.1.00 Crore to Rs.10.00 Crore 
1 7 days to 14 days # 5.00   5.00  
2 15 days to 45 days 6.00   6.00  
3 46 days to 90 days 6.50   6.50  
4 91 days to 179 days 6.75   6.75  
5 6 months to < 9 months 7.25   7.25  
6 9 months to < 1 year 7.50 7.50
7 1 year to 2 years 7.50 7.50
8 Above 2 years to 3 years  7.50   7.25  
 9 Above 3 years to 5 years7.507.25 
10 Above 5 years to 10 years  7.25   7.00  

# For deposits up to and inclusive of Rs.1.00 Lac and above.
For Resident Indian Senior Citizens, the rate of interest is 0.50% higher for all maturity periods up to Rs. 1 crore only. Existing / Retired Staff are eligible for additional rate of interest as per rules.
 
 bulateInterest Rates on Domestic Term Deposits for the size of Rs. 10 Crores and above w.e.f. 12.04.2016

Rates of Interest on Domestic Term Deposits have been revised with effect from 12.04.2016. With this revision, the interest rates offered on domestic term deposits for various periods are as under

Sr.
No.
Maturity Period
Rates of interest (%) per annum
Above Rs. 10 Crores to Rs. 50 Crores *
Above Rs. 50 Crores to Rs. 100 Crores *
Above Rs.100  Crores *
17 days to 14 days 5.00  5.00  5.00  
215 days to 45 days6.00  6.00  6.00  
346 days to 90 days6.50  6.50  6.50  
491 days to 179 days6.75  6.75  6.75  
56 months to < 9 months7.25  7.00  7.00  
69 months to < 1 year7.007.007.00
71 year to 2 years7.007.007.00
8Above 2 years to 3 years 6.75   6.50   6.50  
 9 Above 3 years to 5 years6.75 6.506.50 
10Above 5 years to 10 years 6.75   6.50  6.50
 
* For Deposits of above Rs.10.00 Crore, branches should obtain permission from General Manager, Corporate Planning Department, Head Office before quoting and accepting the Deposit.
 
 
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 12.04.2016
Rates of interest on NRE term deposits have been revised with effect from 12.04.2016 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.1 Crore Rs.1 Crore to Rs.10 Crore
1 year to 2 Years 7.50 7.50
Above 2 Years - up to 3 years 7.50 7.25
Above 3 Years- up to 5 years 7.50 7.25
 Above 5 Years to 10 Years 7.25 7.00
The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from 12.04.2016.
*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., April 01, 2016

The revised interest rates on FCNR [B] Deposits with effect from April 01, 2016 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
  New Existing New Existing New Existing New Existing New Existing
USD

1.75

[1.74]

1.86

[1.84]

2.97

[2.94]

3.11

[3.02]

3.22

[3.15]

GBP

1.62

[1.60]

1.81

[1.73]

2.88

[2.76]

2.94

[2.82]

3.02

[2.89]

EUR

0.88

[0.82]

0.85

[0.80]

1.89

[1.83]

1.95

[1.90]

2.03

[1.99]

AUD

3.17

[3.11]

3.12

[3.02]

4.14

[4.02]

4.33

[4.20]

4.38

[4.26]

[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  April 01, 2016.
 
Base Rate @ 9.75% p.a. Andhra Bank's Base Rate has been decreased by 25 basis points i.e. from 10.00 % p.a. to 9.75% p.a. w.e.f. 29.09.2015.
Andhra Bank's BMPLR (Bench Mark Prime Lending Rate) has been decreased by 25 basis points from 14.25% to 14.00 % p.a. with effect from 29.09.2015.
BMPLR @ 14.00% p.a.
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 for different tenors are as under :
  

                Tenor

MCLR

 

Overnight

9.35%

One month

9.40%

Three month

9.45%

Six Month

9.50%

One Year

9.60%

 
 
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