The Andaman and Nicobar State Co-operative Bank was founded in 1926 in the Islands of Andaman and Nicobar. The bank provides financial help to the inhabitants of the island. The bank also provides fixed deposit schemes to its customers.
Andaman and Nicobar State Co-operative Bank offer fixed deposit schemes that range from 15 days to up to 10 years.
There is special interest rate provided for women and senior citizens under there fixed deposit scheme.
Tenure | General Interest Rate (p.a.) | Interest rate for Women (p.a.) | Interest Rate for Senior Citizens (p.a.) |
15-30 days | 4.50% | 4.75% | 5.00% |
31-45 davs | 4.75% | 5.00% | 5.25% |
46-60 davs | 5.25% | 5.50% | 5.75% |
61-90 davs | 5.25% | 5.50% | 5.75% |
91-120 davs | 5.50% | 5.75% | 6.00% |
121-150 davs | 5.50% | 5.75% | 6.00% |
151-180 davs | 5.50% | 5.75% | 6.00% |
181-210 davs | 5.75% | 6.00% | 6.25% |
211-269 days | 5.75% | 6.00% | 6.25% |
270-364 davs | 7.00% | 7.25% | 7.50% |
1 vear | 7.25% | 7.50% | 7.75% |
1 year to 399 davs | 7.25% | 7.50% | 7.75% |
400 days | 7.25% | 7.50% | 7.75% |
401 to 499 davs | 7.25% | 7.50% | 7.75% |
500 davs | 7.25% | 7.50% | 7.75% |
501 days to less than 18 months | 7.25% | 7.50% | 7.75% |
18months to less than 2 vears | 7.25% | 7.50% | 7.75% |
2 vears to less than 3 years | 7.25% | 7.50% | 7.75% |
3 Years to less than 5 vears | 7.25% | 7.50% | 7.75% |
5 years | 7.25% | 7.50% | 7.75% |
5 vears to less than 8 vears | 6.95% | 7.20% | 7.45% |
8 years to 10 years | 6.95% | 7.20% | 7.45% |
Note: These interest rates are effective since 01 December 2022 and can be changed as per the bank's rules and regulations.
The current fixed deposit rates range from 4.50% to 7.25% p.a. for general customers.
The minimum amount required to open a fixed deposit is Rs.100.
Individuals, institutions, trusts, societies, a minor on behalf of guardians, and joint account holders can open fixed deposit at Andaman and Nicobar State Co-operative Bank.
The current fixed deposit Rates for senior citizens range from 5.00% p.a. to 7.75% p.a. depending on the deposit of tenure.
Yes, minors can open FD accounts under the guardianship of a parent (i.e. mother or father).
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