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Abhyudaya Co-operative Bank Ltd, also popularly known as Abhyudaya Bank, was incorporated as part of a credit society in 1964 to help the weaker sections of society have access to banking services. In 1988, the Reserve Bank of India (RBI) gained the Scheduled Bank status. Today, it has multiple branches and has a wide range of financial services to offer. One among these are the various types of fixed deposit (FD) products - both domestic and Non-Resident Indian (NRI) schemes. The application forms for all types of time deposit schemes can be downloaded online from the bank website. Those who have an existing internet banking account will be able to open an online FD with minimal documentation and this is in a quick, hassle-free manner.
Given below are the latest and revised Abhyudaya Bank fixed deposit interest rates for regular and senior citizens:
Tenure | Regular Interest Rate (per annum) | Senior Citizen Interest Rate (per annum) |
---|---|---|
7 days to 90 days | 6.00% | 6.00% |
91 days to 180 days | 6.50% | 6.75% |
181 days to 15 months | 6.75% | 7.00% |
More than 15 months to 120 months | 7.00% | 7.25% |
Abhyudaya Tax Saving Scheme | ||
---|---|---|
Tenure | Regular Interest Rate (per annum) | Senior Citizen Interest Rate (per annum) |
5 years | 7.25% | 7.25% |
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:
Tenure | Regular Interest Rate (per annum) | Senior Citizen Interest Rate (per annum) |
---|---|---|
1 year to 15 months | 6.75% | NA |
More than 15 months to 120 months | 7.00% | NA |
Tenure | GBP | USD |
---|---|---|
12 months to less than 24 months | 2.84% | 4.59% |
24 months to less than 3 years | 4.77% | 3.02% |
Tenure | Regular rate (per annum) | Senior Citizen rate (per annum) |
---|---|---|
7 days to 90 days | 6.00% | NA |
91 days to 180 days | 6.50% | NA |
181 days to 15 months | 6.75% | NA |
More than 15 months to 120 months | 7.00% | NA |
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Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.