• Abhyudaya Bank Fixed Deposit Rates

    Abhyudaya Co-operative Bank Ltd offers fixed deposit options with interest rates that are attractive, starting at 5.00% p.a., and special interest rates for senior citizens. With a minimum deposit of Rs.500 and 90% loan against deposit available, fixed deposits with the bank are accessible to all.

    Abhyudaya Bank Fixed Deposit Interest Rates

    Tenure Regular Interest Rate (per annum) Senior Citizen Interest Rate (per annum)
    7 days to 90 days 5.00% 5.00%
    91 days to 180 days 5.25% 5.50%
    181 days to 15 months 5.75% 6.00%
    More than 18 months to 3 years 6.25% 6.75%
    Above 3 years to 10 years 6.00% 6.25%

    These interest rates are effective 1 August 2020.

    Abhyudaya Bank Short-term FD Rates for General Public

    • When it comes to short-term FDs, there are a lot of choices for prospective investors as far as tenure slabs are concerned.
    • The tenure slab varies from a minimum of 7 days to a maximum of 180 days.
    • The rate at which interest is paid is from 5.00% p.a. to 5.25% p.a. for the general public.
    • For 7 days to 90 days, the bank pays 5.00% p.a., and for 91 days to 180 days, the applicable rate is 5.25% p.a. for the general public.
    • This highest rate paid for short-term deposits is 5.25% p.a. for the tenure from 91 days to 180 days.

    Abhyudaya Bank Medium and Long-term FD Rates for General Public

    • Short-term and long-term FD rates are those that are above 180 days, the rate of interest paid ranging from 5.75% p.a. to 6.25% p.a.
    • The highest interest rate paid by Abhyudaya Bank is 6.25% p.a. for regular individuals, for a tenure that ranges from 180 days to 120 months/10 years.
    • If the customer chooses the Quarterly Interest Deposit (QID) for a tenure that ranges from above 18 months up to 3 years, the rate paid will be an additional 10 bps, which is 6.35% p.a.
    • For Quarterly Interest Deposit for tenures ranging from 3 years up to 10 years, the rate of interest will be 6.10% p.a.
    • One can also opt for the Abhyudaya Tax Saving Scheme if tax benefit is one of the features that the investor is looking for.
    • The rate of interest paid for a tax saver FD is 6.75% p.a. and will give the investor up to Rs.1.5 lakh as tax benefit under Section 80C of the Income Tax Act in India.

    Abhyudaya Bank Senior Citizen FD Rates

    • The bank pays a higher rate of interest to all senior citizens ( aged 60 and above) for FDs that are for 91 days and more.
    • The rate of interest ranges from 5.50% p.a. to 6.75% p.a.
    • The highest interest rate that is paid by the bank to this type of investor is 6.75% p.a. for a tenure that is from 18 months up to 3 years.
    • Senior citizens that choose the Quarterly Interest Deposit (QID) for a tenure that ranges from above 18 months up to 3 years will get an interest rate of 6.85% p.a.
    • For Quarterly Interest Deposit for tenures ranging from 3 years up to 10 years, senior citizens get an interest rate of 6.35% p.a.

    Abhyudaya Bank FD Tax Saving Scheme Interest Rates

    The interest rate for both the regular public and senior citizens are the same for this scheme as given below:

    Abhyudaya Tax Saving Scheme
    Tenure Regular Interest Rate (per annum) Senior Citizen Interest Rate (per annum)
    5 years 6.75% 6.75%

    Abhyudaya Bank NRI Deposits

    Abhyudaya Bank also has many investment options for NRIs who wish to park their foreign earning and and earn an attractive rate of interest. The best part about some of these deposit schemes is that the interest income earned is tax free. Let us now take a look at the various options that are available through Abhyudaya Bank:

    Non-Resident Ordinary (NRO) Deposits:

    • An ideal investment platform for NRIs looking for schemes to put their money in, NRO deposit accounts offer customers the facility to deposit overseas earnings in an Indian account. The rates offered on these accounts range from 5.00% p.a. to 6.25% p.a. Earrings made through this type of investment will be subject to tax.

    Non-Resident External (NRE) Deposits:

    • All investments that are made in NRE deposits will be tax-free in India. Depositors can also enjoy the benefits of complete repairability. The rates offered fall in the range between 5.75% p.a. to 6.25% p.a.

    Foreign Currency Non-Resident (FCNR) Deposits:

    • With FCNR, one can invest is some of the major currencies in the world. This bank allows an NRI to invest in USD and GBP.

    Resident Foreign Currency (RFC):

    • RFCs are meant to be a good investment option for foreign-return Indians. The interest rates offered are higher for longer tenures.

    Abhyudaya Bank NRE Term Deposit Rates

    These are the NRE term deposit rates effective from 1 August 2020

    Tenure Regular Interest Rate (per annum) Senior Citizen Interest Rate (per annum)
    1 year to 18 months 5.75% NA
    More than 18 months to 3 years 6.25% NA
    Above 3 years to 10 years 6.00% NA

    Abhyudaya Bank FCNR/ RFC Deposit Rates

    These are the FCNR/RFC deposit rates effective from 1 March 2021 to 31 March 2021

    Tenure GBP% USD%
    12 months to less than 24 months 2.10% 2.22%
    24 months to less than 3 years 2.25% 2.26%

    Abhyudaya Bank NRO Deposit Rates

    These are the NRO term deposit rates effective from 1 August 2020

    Tenure Regular Rate (per annum) Senior Citizen Rate (per annum)
    7 days to 90 days 5.00% NA
    91 days to 180 days 5.25% NA
    181 days to 15 months 5.75% NA
    Above 18 months up to 3 years 6.25% NA
    Above 3 years up to 10 years 6.00% NA

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