Andhra Bank FDR Interest Rates

 

Andhra Bank Fixed Deposit Rates 2024

Fixed Deposit are a lucrative investment scheme. It helps one earn high returns along with an interest income. Andhra Bank merged with the Union Bank of India.  The interest rates for Andhra Bank FDs range from 3.00% p.a. to 7.00% p.a. The highest Andhra Bank FD rate is 7.00% p.a. for a tenure ranging from 5 years to 10 years.

Andhra Bank Domestic Term Deposits Less than Rs.2 Crore

The following table contains the rates* for deposits less than Rs.2 crore:

Tenure	General Public FD interest rate (per annum)
7 days to 14 days	3.00%
15 days to 30 days	3.00%
31 days to 45 days	3.00%
46 days to 90 days	4.05%
91 days to 120 days	4.30%
121 days to 180 days	4.40%
181 days to less than 1 year	5.25%
1 year	6.30%
>1 year to 398 Days	6.30%
399 Days	7.00%
400 Days to 2 year	6.30%
> 2 year to less than 3 years	6.30%
3 years	6.50%
> 3 Year to 5 years	6.70%
>5 Years to 10 Years	6.70%

Note: The interest rate mentioned in the table is effective from 23 May 2023.

Andhra Bank Tax Saving FD Rates

The interest rate for Andhra Bank Tax Saving FD is as given below:

Tenure	Rate of Interest (p.a.)
5 years	6.70%

*The Andhra Bank Fixed Deposit rates are subject to change as per the discretion of the bank. The mentioned rates are effective as of 23 May 2023.

Andhra Bank NRI Fixed Deposit Rates

Non to Resident Indians (NRIs) can pick from a range of Term Deposit or Fixed Deposit (FD) schemes. The schemes include Non to Resident Ordinary (NRO), Foreign Currency Non to Resident (Bank) (FCNR (B)) and Non to Resident External (NRE) Fixed Deposits.

Highest Andhra Bank NRI Fixed Deposit Rates

With effect from 23 May 2023, the NRI fixed deposit rates are as follows:

Andhra Bank NRE FD Rates:

Tenure	Interest Rates (p.a.)
1 year	6.30%
>1 year to 398 Days	6.30%
399 Days	7.00%
400 Days to 2 year	6.30%
> 2 year to less than 3 years	6.30%
3 years	6.50%
> 3 Year to 5 years	6.70%
>5 Years to 10 Years	6.70%

Note: The interest rate mentioned in the table is effective from 23 May 2023.

*Senior Citizen and Staff Rate of interests are not applicable for NRE/NRO Deposits.

Andhra Bank FCNR (B) Deposit Interest Rates

The FD rates* for Andhra Bank Foreign Currency Non-Resident (Bank) deposits against specific foreign currency**:

Tenure	CAD	JPY	USD	GBP	EUR
1 year to less than 2 years	3.61	NA	4.50	3.96	2.05
2 years to less than 3 years	3.61	NA	4.30	3.50	2.05
3 years to less than 4 years	3.31	NA	4.05	3.25	1.55
4 years to less than 5 years	3.26	NA	3.80	3.00	1.55
5 years	3.26	NA	3.80	3.00	1.55

*The Andhra Bank FCNR (B) Fixed Deposit interest rates tend to change at the discretion of the bank. 

**US- US Dollar, GBP- Pound Sterling, EUR- Euro, AUD- Australian Dollar

Allahabad Bank Fixed Deposit Rates 2024

Allahabad Bank Fixed Deposit Rates

Rates of interest always fluctuate according to the market and the economy. However, Allahabad Bank is known to give quite high FD interest rates. These fixed deposit rates have to conform to the guidelines of the Reserve Bank of India.

Other than that, Allahabad Bank Fixed Deposit rates are quite profitable. At any given point in time, you can know the FD rates of Allahabad Bank by a simple inquiry into the nearest branch or by looking up the online website of the bank.

It is advisable to reconfirm the FD Rates from the bank before making any decision based on the data provided below.

Allahabad Bank FD Rates on Domestic/NRE/Capital Gains Type B/Tax Saver Fixed Deposits of less than Rs 2 crore w.e.f. 19 December 2022

Period	Interest Rates (% p.a.)
	Regular Citizens	Senior Citizens
7 days to 14 days	2.80	2.80
15 days to 29 days	2.80	3.30
30 days to 45 days	3.00	3.50
46 days to 90 days	3.25	3.75
91 days to 120 days	3.50	4.00
121 days to 180 days	3.85	4.35
181 days to less than 9 months	4.50	5.00
9 months to less than 1 year	4.75	5.25
1 year	6.10	6.60
Above 1 year to less than 2 years	6.30	6.80
2 years to less than 3 years	6.50	7.00
3 years to less than 5 years	6.25	6.75
5 years	6.25	6.75
Above 5 years	6.10	6.60

Special Fixed Deposit Interest Rate w.e.f. 19 December 2022

Tenure	Interest Rates (% p.a.)
	Regular Citizens
IND SHAKTI 555 days	7.00

Allahabad Bank Tax Saver Deposit

Tenure	Interest Rates (% p.a.)
	Regular Citizens
5 years	6.25
Above 5 years to 10 years	6.10

Tax Implications

• The amount invested in a Fixed Deposit with a tenure of 5 years with Allahabad Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.

• The applicable tax will be deducted at the source, i.e., Allahabad Bank, in case the annual interest earned crosses Rs.10,000.

• For NRE Fixed Deposit - of Rs 2 crore to less than Rs 5 crore

  Period	Interest Rates (% p.a.)
  	Regular Citizens	Senior Citizens
  7 days to 14 days	2.90	3.40
  15 days to 29 days	2.90	3.40
  30 days to 45 days	2.90	3.40
  46 days to 90 days	3.10	3.60
  91 days to 120 days	3.10	3.60
  121 days to 180 days	3.60	4.10
  181 days to less than 9 months	4.50	5.00
  9 months to less than 1 year	6.25	6.75
  1 year	6.70	7.20
  Above 1 year to less than 2 years	6.65	7.15
  2 years to less than 3 years	6.10	6.60
  3 years to less than 5 years	6.00	6.50
  5 years	6.00	6.50
  Above 5 years	6.00	6.50

  Note: The above-mentioned FD rates are applicable W.E.F. 31st October 2022

• Interest Rates of FCNR (B) and RFC Deposits w.e.f. 1 January 2023

  Currency	Interest Rates (% p.a.)
  	1 year to less than 2 years	2 years to less than 3 years	3 years to less than 4 years	4 years to less than 5 years	5 years
  USD	5.00	3.95	3.60	3.60	3.60
  GBP	2.00	2.20	2.25	2.25	2.25
  EUR	0.02	0.01	0.01	0.10	0.15
  JPY	0.11	0.13	0.12	0.13	0.14
  CAD	1.81	2.36	2.60	2.66	2.67
  AUD	1.20	1.70	2.05	2.30	2.45
  CHF	0.00	0.01	0.02	0.03	0.05
  SGD	0.27	0.40	0.49	0.55	0.61

  Note: The above-mentioned FD rates are applicable W.E.F. 1st January 2023.