• Andhra Bank NRO/NRE/FCNR FD Rates

    You can open a NRE, NRO, FCNR (B), and RFC deposit with Andhra Bank to avail attractive rates and a number of benefits. A deposit can be opened for a tenure that ranges between 7 days and 10 years. It must be noted here that Andhra Bank with effect from April 1 merged into Union Bank of India.

    Andhra Bank NRE FD Rates

    The interest rates offered on NRE fixed deposit by the bank are listed in the table below:

    Tenure Interest rate (% p.a.)
    12 months 5.25
    12 months 1 day to 24 months 5.30
    24 months 1 day to 36 months 5.30
    36 months to 60 months 5.55
    60 months to 120 months 5.60

    Note: Andhra Bank NRE FD rates are effective 15 December 2020. It must be noted here that the rates are subject to change as per the discretion of the bank.

    Andhra Bank NRO FD Rates

    The interest rates offered by Andhra Bank for opening a NRO fixed deposit account below Rs.2 crore are mentioned in the table below:

    Tenure Interest rate (% p.a.)
    7 days to 45 days 3.00
    46 days to 90 days 3.75
    91 days to 120 days 4.25
    121 days to 180 days 4.30
    181 days to less than 12 months 4.50
    12 months 5.25
    12 months 1 day to 24 months 5.30
    24 months 1 day to 36 months 5.50
    36 months 1 day to 60 months 5.55
    60 months 1 day to 120 months 5.60

    Note: Andhra Bank NRO FD rates are effective 15 December 2020. It must be noted here that the rates are subject to change as per the discretion of the bank.

    Highest Andhra Bank NRO deposit rates

    The highest interest rate offered by Andhra Bank on NRO term deposit is 5.55% p.a. This is offered on a tenure that ranges between 36 months 1 day and 60 months.

    Andhra Bank FCNR (B) Deposit Rates

    The interest rates for FCNR term deposit are provided below:

    Tenure Interest rates (per annum)
    USD less than Rs.3 lakh USD equal to or greater than Rs.3 lakh GBP EUR JPY CAD AUD
    12 months to less than 24 months 0.87 0.87 0.44 0.01 0.01 0.69 0.13
    24 months to less than 36 months 0.72 0.82 0.45 0.01 0.04 0.57 0.18
    36 months to less than 48 months 0.79 0.89 0.52 0.01 0.05 0.67 0.09
    48 months to less than 60 months 0.85 0.95 0.57 0.01 0.05 0.79 0.05
    60 months 0.90 1.00 0.60 0.01 0.06 0.95 0.03

    Note: Andhra Bank FCNR rates are effective 1 January 2021. It must be noted here that the rates are subject to change as per the discretion of the bank.

    Andhra Bank RFC Deposit Rates

    ANDHRA Bank’s RFC fixed deposit rates are as given below:

    Tenure Interest rates (per annum)
    USD less than Rs.3 lakh USD equal to or greater than Rs.3 lakh GBP EUR JPY CAD AUD
    91 days to less than 12 months 0.87 0.87 0.44 0.01 0.01 0.69 0.13
    12 months to less than 24 months 0.87 0.87 0.44 0.01 0.01 0.69 0.13
    24 months to less than 36 months 0.72 0.82 0.45 0.01 0.04 0.57 0.18
    36 months 0.79 0.89 0.52 0.01 0.05 0.67 0.09

    Note: Andhra Bank RFC rates are effective 1 January 2021. It must be noted here that the rates are subject to change as per the discretion of the bank.

    FAQs on Andhra Bank NRO/NRE/FCNR FD Rates

    1. Is there a penalty for premature closure of NRE and FCNR deposits?
    2. There is no penalty for premature closure of NRE and FCNR deposits.

    3. What is the minimum deposit amount for senior citizens?
    4. The minimum deposit amount for senior citizens when it comes to opening a NRE or NRO deposit is Rs.5,000

    5. How is the interest paid?
    6. The interest earned on the deposits is paid on a quarterly basis.

    7. Is the nomination facility available on NRE and NRO deposits?
    8. You can avail the nomination facility on NRE and NRO deposits.

    9. What is minimum investment amount to open a NRE fixed deposit account with Andhra bank?
    10. The minimum investment amount to open a NRE fixed deposit account is Rs.10,000 for metro and urban branches. For rural and semi urban branches, the amount is Rs.5,000

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