The Andhra Bank represents a chain of unity and solidity and has been providing banking services since before the time of independence. Originally registered in 1923, this bank with plenty of experience has gained a level of expertise through the years and offers comprehensive banking solutions to the customer through extensive delivery channels and a customer centric approach. The bank prides itself in the superior customer satisfaction it delivers time and again and is even reflected in the symbol of the bank which is the symbol of infinity denoting the lengths it would take to uplift a customer’s way of life through superior banking products. One such product is the Andhra Bank Money Time which is a monthly income deposit scheme aimed to form a corpus that provides the customer with regular income
Features of AB Money Time deposit
The interest paid on the deposits will take place at the end when the deposit reaches maturity
The minimum deposit amount for the Money Time Deposit is Rs 25,000 and there is no cap on the maximum amount of deposit. However further deposits can be done only in multiples of Rs 1000
The Money Time deposit has a range of tenure options with the minimum tenure option being 15 months and the maximum tenure option being 120 months
Maturity Period
Less than Rs.1.00 crore (%)
Rs.1.00 Crore to Rs.10.00 Crore (%)
7 days to 14 days
4
4
15 days to 45 days
4.5
4
46 days to 90 days
5
4.75
91 days to 179 days
6
5.25
6 months to < 9 months
6.25
5.5
9 months to < 1 year
6.25
5.5
1 year to 2 years
7
5.75
Above 2 years to 3 years
6.5
5.75
Above 3 years to 5 years
6.5
5.75
Above 5 years to 10 years
6.5
5.75
*Interest rates are linked to the bank’s base rate and are subject to change as per the bank’s discretion. Rates are as of December 2015.
The interest rates offered here are for normal citizens while the senior citizens have an additional interest of 0.50% added to it. Even retired staff of Andhra Bank are entitled to additional interest rates.
Andhra Bank Money Time FAQ’s
What are the available tenure options under this plan?
The plan offers a minimum tenure of 1 year, 3 months or 15 months at a minimum deposit of Rs 25,000. The maximum tenure under this plan is 10 years or 120 months
When will the interest on the deposit be paid out?
The Money Time Deposit by Andhra Bank offers interest on the last 3 months of the deposit and will not be paid for the first three months
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
From the Andhra bank, I am holding the fixed deposit account from the last three years of time. I would like to say that the response could be get improvised, also there are no worries on it. Its the typical government bank.
I hold a Fixed deposit account with Andhra Bank and the banking process is really nice. The bank is very supportive and very beneficial too. I get a good rate of interest on this account and there are no charges related to this account. Overall no issues.
Was this review helpful?
0
SRINIVAS JANAGAM
, hyderabad
Reviewed on Nov 13, 2017
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
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
KUBENDRAN CHINTHAMANI
, madurai
Reviewed on Mar 18, 2017
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
POLAIAH KUKATLAPALLI
, hyderabad
Reviewed on Jul 05, 2016
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?
5
DURGAPRASAD UDDANDAM
, mumbai
Reviewed on May 02, 2016
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
M N R PRANEETH PADALA
, hyderabad
Reviewed on Jan 21, 2016
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
NARAYANA AMAVILLA
, hyderabad
Reviewed on Dec 09, 2015
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
SAIMAHESH REDDY AVULA
, vijayawada
Reviewed on Oct 03, 2015
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.
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
M V Ramana Rao
, hyderabad
Reviewed on Sep 16, 2015
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
SUDHAKAR VEMULA
, hyderabad
Reviewed on Jun 04, 2015
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 .
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
MANISH MISHRA
, new delhi
Reviewed on Jan 07, 2015
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
KARTHICK SUBRAMANIAM
, chennai
Reviewed on Dec 15, 2014
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
MOHAN GANGA RAO
, chennai
Reviewed on Dec 12, 2014
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
SRIKANTH REDDY REDDY
, hyderabad
Reviewed on Nov 29, 2014
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
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
SRINIVAS RANGAVAJHULA
, hyderabad
Reviewed on Oct 08, 2014
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.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
Grab our newsletter!
Gain an edge by connecting with us via email. We promise never to spam you.
AWESOME SAUCE!
Request received - loud & clear! Returning you to where you were...
Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.
Fixed Deposit
