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    Andhra Bank Freedom Deposit Scheme  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.35% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.5% - 6.85% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    Andhra Bank Freedom Deposit Scheme is Rated as "Great!" by 19 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    The Freedom (Flexi) Deposit Scheme was launched by Andhra Bank on the 27th of August, 2008. It is basically a term deposit account and a savings account combined to provide better benefits to customers who wish to invest money and save for the long term.

    Eligibility Criteria of Andhra Bank Freedom Deposit Scheme

    The people who can avail the Freedom (Flexi) Deposit Scheme from Andhra Bank include individuals either singly or jointly, associations, schools, associations, clubs, trusts and colleges.

    Features of Andhra Bank Freedom (Flexi) Deposit Scheme

    Account Type

    Joint or Single

    Amount

    The minimum balance that must be maintained in an Andhra Bank savings account is Rs.5,000. Any additional amount that is deposited over and above the minimum balance should be transferred to the term deposit account in multiples of Rs.1000.

    Rate of Interest

    Min

    Max

    Period

    The minimum period for the Andhra Bank Freedom (Flexi) Fixed Deposit Scheme is 15 days and the maximum is 12 months. For the Andhra Bank Freedom (Flexi) Re-investment Deposit Scheme is six months and the maximum is 12 months.

    Loan against Andhra Bank Freedom Deposit Scheme

    Not available

    Nomination (if any)

    Available

    Andhra Bank Freedom (Flexi) Deposit Scheme Interest Rate

    The interest earned by the account holder will be at local term deposit rates for units converted to term deposits. Periodical interest payments can only be made on a quarterly basis.

    Frequently Asked Questions on Andhra Bank Flexi Deposit Scheme

    1. What makes the Andhra Bank Freedom (Flexi) Deposit Scheme so special?

      The Freedom (Flexi) Deposit Scheme is a unique technology-friendly product that comes with the Auto-reverse sweep and Auto-sweep facility. It offers complete liquidity in the sense that the deposit is broken in multiples of Rs.1000 on Last in First out (LIFO) basis, while full interest can be earned on the remaining deposits.

    2. What documents will I require if I want to cancel deposit units?

      The Andhra Bank Freedom (Flexi) Deposit Scheme can be cancelled without submitting any documents, making it easy for customers to go about proceeding with utmost convenience.

    3. Is there a penalty applicable to premature withdrawals?

      No penalty is applicable to premature withdrawal of deposit units under the Auto-reverse facility.

    4. Does the company offer a deposit certificate?

      No. No deposit certificate is issued by the bank.

    5. What documents will be issued by the company?

      The company will issue term deposit and savings bank transactions.

    Useful Information on Andhra Bank Fixed Deposit

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  • AB Freedom Deposit Scheme Reviews

    • andhra Bank Fixed Deposit
      "Good one"
      0.5 4.0/5 "Great!"
      Good, I can view all the accounts in one page that is why I had chosen this ANDHRA Bank FD. I have online access too. I can view and change the mat instructions online. I change the principle amount too. I do get a the certificate of interest from them proactively on a yearly basis
      Was this review helpful? 3
      , kurnool
      Reviewed on Apr 20, 2017
    • andhra Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the Andhra bank and I have opened it there because its easy to access. Rate of interest is around 9.5% and the customer service is good with them. I can withdraw the amount with them at any time without any charges but interest will less depends up on the number of days. Customer service is good with the Andhra bank.
      Was this review helpful? 5
      , madurai
      Reviewed on Mar 18, 2017
    • andhra Bank Fixed Deposit
      "RECURRING DEPOSIT"
      0.5 5.0/5 "Blown Away!"
      I am customer of Andhra bank and I opened RD in july 2015 due on june 2016. but the system debited my account even after due date.I inquired manager he told me politely that as it is RD Plus the system accepted extra credit. POLAIAH . K .HYDERABAD
      Was this review helpful? 8
      , hyderabad
      Reviewed on Jul 05, 2016
    • andhra Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      Andhra bank is offering 7.75% -8% interest rate for the fixed deposit with the minimum lock in period of five years. The minimum amount to start the plan is nearly Rs.5000. There is no activation charged. We can avail the plan by visiting the bank directly.
      Was this review helpful? 4
      , mumbai
      Reviewed on May 02, 2016
    • andhra Bank Fixed Deposit
      "Very high rate for FD..."
      0.5 4.0/5 "Great!"
      Really the rate of interest is very high. No other banks will provide this kind of rate for the fixed deposit. In the year of 2007 the rate was 9 to 9.25%. Even now the Andhra bank is providing the same rate. Compounding rate it is and they give it once in a year.
      Was this review helpful? 20
      , hyderabad
      Reviewed on Jan 21, 2016
    • andhra Bank Fixed Deposit
      "Fine.."
      0.5 3.5/5 "Pretty good"
      Interest rate offered by them was similar. My fixed account is with Andhar bank. Good thing is, there is no lock in period and no restrictions also. They allow us to withdrawal. I had find one difficulties while closing this account on pre matured level. So, on that I did not get proper guidance from them.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Dec 09, 2015
    • andhra Bank Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      Andhra Bank is offering 8% of interest rate for the fixed despot plan. The minimum lock in period 6 months which i have also preferred for the same. No extra charges for any activation. We can do the process through online in which after the maturity period will get the amount directly to the account My opinion is that they should give more interest rate for the FD plan.
      Was this review helpful? 9
      , vijayawada
      Reviewed on Oct 03, 2015
    • andhra Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      Andhra bank is offering Fixed deposit with the interest rate of 8-9% with the minimum lock in period of 6 months.No activation charge . Interest will be reduce in case we break the plan before the maturity period. To liquid the cash we have to visit the bank . They have to improve the customer support.
      Was this review helpful? 6
      , ghaziabad
      Reviewed on Sep 19, 2015
    • andhra Bank Fixed Deposit
      "Andhra Bank Fixed Deposit "
      0.5 4.5/5 "Excellent!"
      I am a customer of he Bank since 1970. Bank's service either Private Sector or Public Sector is excellent through out all the branches. When ever I visit branch, am received very well by staff whether known to me or not. A good Bank with a good track record. Am share holder of the Bank also. I
      Was this review helpful? 9
      , hyderabad
      Reviewed on Sep 16, 2015
    • andhra Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I was holding a Andra Bank FD. Customer service offered by them was good. Interest rate offered by them was good. This FD was taken through my friend and he is a Manager there. I would say Rate of interest offered by them was not that good as it was 9% at that point of time where as other Banks were offering 9.25% . I am holding this FD for
      Was this review helpful? 13
      , hyderabad
      Reviewed on Jun 04, 2015
    • andhra Bank Fixed Deposit
      "FD Andhra Bank"
      0.5 4.0/5 "Great!"
      This is a government undertaking . It provides online FD. The interest will be credited at the end of the month to account if its monthly basis . We cant close FD online . Interest is not maximum comparatively . 8.5% per year currently.Nomination availble .
      Was this review helpful? 14
      , hyderabad
      Reviewed on Apr 02, 2015
    • andhra Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I did chose Andhra bank for fixed deposit as the branch is nearby to my Wife office. Interest rate is around 6-9%which is half yearly compounding. Response is pretty much faster and the bank people are entirely helpful.
      Was this review helpful? 19
      , new delhi
      Reviewed on Jan 07, 2015
    • andhra Bank Fixed Deposit
      "Satisfactory"
      0.5 2.0/5 "Expected more"
      The fixed deposit which I have with Andhra bank is quite satisfactory. The tenure of the deposit is for around 4 years. I would say that the customer support is not so good. As I went to the bank directly to avail it the services were ok. I opted it from Andhra bank as it is in my native. They informed that there will be preclosure charges will be levied if the deposit is withdrawn before the tenure. The interest they provide is around 9% approximately which is beneficial.
      Was this review helpful? 8
      , chennai
      Reviewed on Dec 15, 2014
    • andhra Bank Fixed Deposit
      "Good"
      0.5 3.0/5 "Satisfactory"
      Fixed deposit services with Andhra bank is not much good. Its a nationalized bank, the response is quite delayed as I have to visit the branch for each and every queries. The on line facilities are quite hectic and it needs to more user friendly. Rate of interest is lesser than other banks.
      Was this review helpful? 8
      , chennai
      Reviewed on Dec 12, 2014
    • andhra Bank Fixed Deposit
      "Average bank"
      0.5 2.0/5 "Expected more"
      This Andra Bank FD account is fairly a new account, and It was my family members who initiated me to open this account. This account is opened on my daughterâ??s name . The total tenure of this loan is 10 years and I am very much happy with the interest rate as well. I am sure that I will get good returns out of this account.
      Was this review helpful? 12
      , hyderabad
      Reviewed on Nov 29, 2014
    • andhra Bank Fixed Deposit
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I am not using this fixed deposit account very long time from andhra bank . Service was quite good. Quite equal compared with other nationalized banks. Almost all the banks providing the same service. It would be nice if they improve their services like other banks
      Was this review helpful? 11
      , bangalore
      Reviewed on Oct 14, 2014
    • andhra Bank Fixed Deposit
      "Great"
      0.5 4.0/5 "Great!"
      From my initial start of education, I started my Banking relationship with Andhra bank which is the first bank, that's why I opted for fixed deposit. Rate of interest is quite nominal and visit the branch for depositing the money. There could be more improvisation in terms of communication, response.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Oct 08, 2014
    • andhra Bank Fixed Deposit
      "OVERALL GOOD CHOICE"
      0.5 3.5/5 "Pretty good"
      I have a fixed deposit of Andhra bank. They have good customer service specially in Hyderabad. The customer request is processed promptly and the after maturity process is also smooth. The rate of interest is good too. I went for this bank as it was located near to my residence in Hyderabad, and I still continue with the account after I have shifted from the place due the good services.
      Was this review helpful? 10
      , hyderabad
      Reviewed on Aug 05, 2014
    • andhra Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I can say Andhra bank service was good but however the customer service was needs more improvement for providing correct information.. My on-line banking seems very slow at sometimes... However, I can accept the fact that the service was not that level compared to other banks since it is was vintage.. Needs more improvement... Overall good service ..
      Was this review helpful? 14
      , hyderabad
      Reviewed on Jun 05, 2014
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