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    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

    Maturity Period Less than Rs.1.00 crore (%)Rs.1.00 Crore to Rs.10.00 Crore (%)
    7 days to 14 days44
    15 days to 45 days4.54
    46 days to 90 days54.75
    91 days to 179 days65.25
    6 months to < 9 months6.255.5
    9 months to < 1 year6.255.5
    1 year to 2 years75.75
    Above 2 years to 3 years6.55.75
     Above 3 years to 5 years6.55.75
    Above 5 years to 10 years6.55.75

    The above Interest rates take effect from 7th November 2015 and can be changed as per the discretion of the bank. The rate of interest shown above is not for senior citizens. Senior Citizens avail an additional 0.50% interest on the term deposits and retired staff and personnel can also avail additional interest

    Useful Information on Andhra Bank Fixed Deposit

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