• Abhyudaya Bank Fixed Deposit

    Abhyudaya Co-operative Bank offers a wide range of fixed deposit schemes with attractive interest rates for the general public and additional interest rates for senior citizens. With minimum amount required to open a fixed deposit account and hassle-free documentation, the bank makes opening a fixed deposit accessible to a large section of India's demographic, whether salaried or not. The bank also offers fixed deposit schemes for Non-Resident Indians.

    Types of Fixed Deposits from Abhyudaya Cooperative Bank

    Abhyudaya Co-operative Bank offers the following fixed deposit schemes:

    • Monthly Income Deposit Scheme
    • Quarterly Interest Deposit Scheme
    • Fixed Deposit Receipt
    • Quarterly Interest cum Reinvestment Plan
    • Abhyudaya Tax Saving Scheme

    Features of Monthly Income Deposit Scheme

    The features of the Monthly Income Deposit scheme are as follows:

    • Minimum deposit of Rs.500
    • Monthly payout of interest amount
    • Loan against deposit of up to 90% of deposit amount can be availed
    • Can be opened in minor's name by the parent-approved by the bank

    Features of Quarterly Interest Deposit Scheme

    The features of the Quarterly Interest Deposit scheme are as follows:

    • Minimum deposit of Rs.500
    • Quarterly payout of interest amount
    • Loan against deposit of up to 90% of the accrued value can be availed
    • Can be a joint account

    Features of Fixed Deposit Receipt

    The features of the Fixed Deposit Receipt scheme are as follows:

    • Minimum deposit of Rs.500
    • Interest amount paid at the time of maturity

    Features of Quarterly Interest cum Reinvestment Plan

    The features of the Quarterly Interest cum Reinvestment Plan are as follows:

    • Minimum deposit of Rs.500
    • Interest amount paid at the time of maturity
    • Loan can be availed up to 90% of the deposit amount

    Features of Abhyudaya Tax Saving Scheme

    The features of the Abhyudaya Tax Saving Scheme are as follows:

    • Avail tax deduction of up to Rs.1.5 lakh in a financial year for the investment
    • Lock-in period of 5 years
    • Minimum Rs.5,000 as deposit and thereafter in multiples of Rs.100
    • Nomination facility available

    Abhyudaya Co-operative Bank Fixed Deposit Interest Rate

    The interest rates for fixed deposit schemes effective 1 August 2020 are as given below:

    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 18 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%

    Eligibility Criteria to Open Abhyudaya Co-operative Bank Fixed Deposit

    • The following entities can open a fixed deposit account with the bank:
    • Individuals approved by the bank
    • Associations, cooperative societies, institutions, and registered trusts
    • Minors if the parent is approved by the bank

    FAQs on Abhyudaya Co-operative Bank Fixed Deposit

    1. Does Abhyudaya Cooperative Bank offer fixed deposits for NRIs?

      Yes, there are fixed deposit accounts for Non-Resident Indians as well that are offered by Abhyudaya Bank.

    2. Where does the interest get credited for FDs by Abhyudaya Bank?

      The interest is credited into the depositor's bank account or paid by cash as well.

    3. Is loan against deposit available for Abhyudaya Bank's Tax Saving Scheme?

      No, loan against deposit is not available for the tax saving scheme of Abhyudaya Bank.

    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.

    Abhyudaya Bank FD Reviews

    • review
      "Excellent !!!!"
      0.5 5.0/5 "Blown Away!"
      ACB bank is giving 11% interest rate for the fixed deposit with the minimum lock in period of 5 years. The minimum amount to activate the plan is rs.5000. We can withdraw the amount any time without any charges. There is no activation and processing fee for the plan.
      Was this review helpful? 12
      , thane
      Reviewed on Mar 16, 2016
    Common Loader Icon
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.