Andhra Bank Kalpataruvu Deposits
With an extensive experience dating back to 1923, this pre independence era bank has a total workforce of over 20,000 employees and provides comprehensive banking products to the people of Andhra Pradesh and Odisha.
Features of Andhra Bank Kalpataruvu Deposits
Of the many products offered, the Kalpataruvu Deposits offered by Andhra Bank are a popular choice among term deposits and the salient features of this scheme are described below
The Kalpataruvu deposit is a cumulative term deposit which has a minimum deposit amount set. The amount is set at Rs 100, however there is no limit on the maximum amount that can be deposited. The deposit has a range of tenure options ranging from a minimum tenure of 6 months to a maximum tenure of 10 years
The interest is compounded on a quarterly basis and is paid out at the time of maturity of the deposit
Interest Rates on Andhra Bank Kalpataruvu Deposits
General Customers | Senior Citizen Customers | |||
One year to below two years | 11.50% | 1,12,010/- | 12% | 1,12,550/- |
Two years to below three years | 12.50% | 1,27,910/- | 13% | 1,29,160/- |
Three years to below five years | 13.50% | 1,48,930/- | 14% | 1,51,110/ |
Interest Rates for deposits less than Rs.2 crore
Tenure | Interest Rate per annum in % |
7-14 Days | 3.50 |
15-30 Days | 3.50 |
31-45 Days | 3.50 |
46-90 Days | 4.50 |
91-120 Days | 4.80 |
121-180 Days | 4.90 |
181 Days to less than one year | 5.75 |
One year | 6.75 |
More than one year to 398 Days | 6.75 |
399 Days | 7.25 |
400 Days to two years | 6.50 |
More than two years to less than three Years | 6.50 |
Three years | 6.50 |
More than three years to five years | 6.50 |
More than five years to ten Years | 6.50 |
Note: The rates are effective from 19 January 2024
Other Fixed Deposit Schemes Offered by Andhra Bank
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