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    Overview of Andhra Bank Fixed Deposit

    Overview of Andhra Bank Fixed Deposit  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.35% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.5% - 6.85% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    Overview of Andhra Bank Fixed Deposit is Rated as "Great!" by 19 Users

    Fixed Deposit BYTES FROM OUR KITCHEN

    About Andhra Bank:

    Andhra Bank is a public-sector bank with a network of 2000 plus branches, 38 satellite offices, 15 extension counters, and thousands of ATMs spread across the country. Andhra Bank was established by the eminent freedom fighter Dr. Bhogaraju Pattabhi Sitaramayya. The bank started its operations on 28th November 1923.

    Andhra Bank FD:

    The bank provides retail investment solutions through its fixed deposit schemes with competitive interest rates for different tenures. However, Andhra Bank’s FD rates are subject to change based on the bank’s liquidity needs and fluctuations in the market.

    A fixed deposit is a financial product provided by the banks which enables you/investors to get higher rate of interest on your savings when compared to a regular savings account. It is a kind of savings account or certificate of deposit which pays you a fixed rate of interest on your savings until a given maturity date. Fixed deposits usually cannot be withdrawn prior to maturity. However, with advance notice and paying the penalty fee, one can withdraw money from fixed deposits. Andhra Bank provides fixed deposit for different tenures at different rates by using which you can get greater benefits on your savings.

    Key Features of Andhra Bank Fixed Deposit:

    • With Andhra bank, you can invest in fixed deposits for a minimum period of 6 months and a maximum period of 10 years.
    • Short-term deposits of 7 days are also offered. For this, the minimum deposit amount required is ₹ 1,00,000. In all other cases the minimum deposit period is 15 days.
    • You will be paid simple interest on maturity of the deposit.
    • You will get interest on monthly basis at discounted rates. Or, the interest may be paid to you on quarterly basis as desired by you.
    • The bank offers FCNR term deposits and NRE term deposits for the NRIs.

    Andhra Bank FD Eligibility:

    Senior citizens, NRIs and Indian residents are eligible for opening an FD account with Andhra Bank. Individuals (both single and jointly), partnership firms, private and public limited companies, HUFs, specified associations, trusts, and society can open their FD accounts with Andhra Bank.

    Minimum/Maximum amount required to open an FD account with Andhra Bank:

    In case of domestic term deposits, the bank accepts deposits up to ₹ 1 crore. The bank accepts fixed deposit above ₹ 100 crore, in which case, the branch accepting such high-value deposits, needs to get permission from the General Manager, Corporate Planning Department of Andhra Bank, before accepting the Deposit.

    Minimum/Maximum deposit tenures of Andhra Bank FDs:

    You can open an FD account with Andhra Bank for a minimum period of 6 months and a maximum period of 10 years.

    Andhra Bank FD Interest Rates:

    The bank offers different FD schemes for different tenures at different rates ranging between 7% and 8.5% on short-term holdings from 7 days to 1 year and around 8.5% to 8.75% on long-term holdings from 1 to 10 years.

    The Andhra Bank FD interest rate starts from 7.00% and goes up to 8.75%, even if you open an FD account for above ₹ 100 crore. Interest rates are determined in keeping with market conditions and the bank’s requirements and are subject to change.

    Andhra Bank FD application form:

    You can download your FD application form from the website of Andhra Bank to open a fixed deposit account. In the form, you need to fill your personal and financial information such as PAN number, DOB, mobile no, TDS details etc.

    Andhra Bank FD for Senior Citizens:

    Senior citizens i.e. those who have completed 60 years can get some extra benefits on FDs at Andhra Bank. Currently, senior citizens are allowed to open an FD account with Andhra Bank at a rate of interest that is 0.50% higher than standard rates, for all maturity periods. Existing and retired staff are also eligible for additional rate of interest on maturity.

    Are loans provided against FDs at Andhra Bank?

    Normally Andhra Bank does not provide any loan against its term deposits. However, the bank may consider loan against deposit standing in the name of minor. It also considers loans against third party deposits.

    Does Andhra Bank allow premature withdrawal of FD?

    Andhra Bank allows pre-mature withdrawal of term deposits on request made by the depositor. A penalty charge of 1% is levied on premature cancellation/withdrawal of fixed deposits. However, certain scenarios are exempted from paying the penalty charge as per the bank’s terms and conditions.

    Does Andhra Bank allow premature renewal of FD?

    Depositors can renew their deposits by requesting for premature closure of an existing term deposit account. Andhra Bank will permit the renewal at the rate effective on the date of renewal, if the deposit is renewed for a period greater than the balance period of the original deposit.

    What happens if a fixed deposit matures on a holiday?

    If a fixed deposit matures on a Sunday or a holiday or a non- working day, bank would pay interest at the originally contracted rate on your deposit amount.

    Is tax deducted on FDs at Andhra Bank?

    Andhra Bank has the legal right to deduct tax at source if the total interest payable on all term deposits held by a person exceeds the amount specified under the Income Tax Act, 1961 which is currently ₹ 10,000 per year. You will get a TDS Certificate for the amount of tax deducted.

    Does Andhra Bank offer FDs for NRI?

    Yes, the bank offers fixed deposits for non-resident Indians (NRI). It offers NRE and FCNR term deposits for NRIs. The NRE term deposits are accepted for a maximum period of 10 years while FCNR deposits are accepted for a maximum period of 5 years. Andhra Bank NRE term deposits can be maintained in Indian rupee. FCNR deposits can be maintained in GBP, EURO, USD, AUD and CAD. The highest rate of interest offered for NRE fixed deposits is 8.50%. The bank offers different interest rates for FCNR term deposits opened in different currencies. For example, it offers 4.57% for fixed/term deposits maintained in AUD. Both NRE and FCNR term deposits offered by Andhra Bank can be opened jointly.

    News About Andhra Bank Fixed Deposit

    • Andhra Bank Changes FD interest rates

      Andhra Bank, in a move mimicking that initiated by SBI, Punjab National Bank and others before it, has slashed interest rates across a string of fixed deposit maturities. The bank has reduced interest rates on all fixed maturities ranging above one year by up to 75 bps, a decisively steep and unexpected cut. The bank notes the current trend of excess liquidity of funds and poor credit demand posed by the market as express reasons for this strategic move. In related events, sources confirm that a corresponding slash in lending rates is expected to follow suit.

      5th November 2014

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  • Andhra Bank Fixed Deposit Reviews

    • andhra Bank Fixed Deposit
      "Good one"
      0.5 4.0/5 "Great!"
      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
      Was this review helpful? 1
      , kurnool
      Reviewed on Apr 20, 2017
    • andhra Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      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
      , madurai
      Reviewed on Mar 18, 2017
    • andhra Bank Fixed Deposit
      "RECURRING DEPOSIT"
      0.5 5.0/5 "Blown Away!"
      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
      , hyderabad
      Reviewed on Jul 05, 2016
    • andhra Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      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? 4
      , mumbai
      Reviewed on May 02, 2016
    • andhra Bank Fixed Deposit
      "Very high rate for FD..."
      0.5 4.0/5 "Great!"
      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
      , hyderabad
      Reviewed on Jan 21, 2016
    • andhra Bank Fixed Deposit
      "Fine.."
      0.5 3.5/5 "Pretty good"
      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
      , hyderabad
      Reviewed on Dec 09, 2015
    • andhra Bank Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      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
      , vijayawada
      Reviewed on Oct 03, 2015
    • andhra Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      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.
      Was this review helpful? 6
      , ghaziabad
      Reviewed on Sep 19, 2015
    • andhra Bank Fixed Deposit
      "Andhra Bank Fixed Deposit "
      0.5 4.5/5 "Excellent!"
      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
      , hyderabad
      Reviewed on Sep 16, 2015
    • andhra Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      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
      , hyderabad
      Reviewed on Jun 04, 2015
    • andhra Bank Fixed Deposit
      "FD Andhra Bank"
      0.5 4.0/5 "Great!"
      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 .
      Was this review helpful? 14
      , hyderabad
      Reviewed on Apr 02, 2015
    • andhra Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      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
      , new delhi
      Reviewed on Jan 07, 2015
    • andhra Bank Fixed Deposit
      "Satisfactory"
      0.5 2.0/5 "Expected more"
      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
      , chennai
      Reviewed on Dec 15, 2014
    • andhra Bank Fixed Deposit
      "Good"
      0.5 3.0/5 "Satisfactory"
      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
      , chennai
      Reviewed on Dec 12, 2014
    • andhra Bank Fixed Deposit
      "Average bank"
      0.5 2.0/5 "Expected more"
      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
      , hyderabad
      Reviewed on Nov 29, 2014
    • andhra Bank Fixed Deposit
      "Good service"
      0.5 3.0/5 "Satisfactory"
      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
      Was this review helpful? 11
      , bangalore
      Reviewed on Oct 14, 2014
    • andhra Bank Fixed Deposit
      "Great"
      0.5 4.0/5 "Great!"
      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
      , hyderabad
      Reviewed on Oct 08, 2014
    • andhra Bank Fixed Deposit
      "OVERALL GOOD CHOICE"
      0.5 3.5/5 "Pretty good"
      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.
      Was this review helpful? 10
      , hyderabad
      Reviewed on Aug 05, 2014
    • andhra Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I can say Andhra bank service was good but however the customer service was needs more improvement for providing correct information.. My on-line banking seems very slow at sometimes... However, I can accept the fact that the service was not that level compared to other banks since it is was vintage.. Needs more improvement... Overall good service ..
      Was this review helpful? 14
      , hyderabad
      Reviewed on Jun 05, 2014
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