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IRDAI/I NTAII/BA/51/2018
CIN: U72900KA2018PTC110119
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Andhra Bank offers varying FD interest rates based on the deposit amount and tenure. The rates can range from around 3% to 6% per annum. For the most accurate and up-to-date rates, please visit Andhra Bank’s official website or InsureMile’s FD comparison tool.

The minimum amount required to open an FD with Andhra Bank typically starts at ₹1,000. However, this amount can vary based on specific FD schemes and customer categories, so it’s best to check the bank’s official guidelines or consult with a bank representative.

Andhra Bank offers flexible tenure options for Fixed Deposits, ranging from 7 days to 10 years. Customers can choose the tenure that best suits their financial goals and investment horizon.

Yes, Andhra Bank offers higher interest rates for senior citizens, typically an additional 0.25% to 0.50% over the regular FD rates. This special rate is applicable for deposits made by individuals aged 60 years and above.

The interest on Andhra Bank FDs is calculated using the simple interest formula for short-term deposits (less than 6 months) and compound interest formula for longer-term deposits (6 months and above). The interest can be paid out monthly, quarterly, half-yearly, annually, or at maturity, depending on the customer’s preference.

Premature withdrawal of an FD with Andhra Bank is allowed, but it may attract a penalty. The penalty is usually a reduction in the interest rate applicable for the actual period the deposit was held. To initiate a premature withdrawal, customers need to submit a written request to the bank, either online through net banking or by visiting the branch. The applicable interest rate and penalty details can be confirmed at the time of withdrawal.