About Andhra Bank
Andhra Bank (BSE: 532418) (ఆంధ్రా బ్యాంక్) is a medium-sized public sector bank (PSB) of India, with a network of 2803 branches, 4 extension counters, 38 satellite offices and 3636 automated teller machines (ATMs) as of 31 Mar 2016. During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. The bank now operates in 25 states and three Union Territories. Andhra Bank has its headquarters in Hyderabad, India.
The Government of India owns 63.97% of its share capital as on 31 Dec 2015. The state owned Life Insurance Corporation of India holds 7.66% of the shares. The bank has done a total business of ₹3,106 billion (US$46 billion) and has earned a net profit of ₹5.40 billion (US$80 million) for the Financial Year 2015-16.
Andhra Bank is a pioneer in introducing Credit Cards in the country in 1981.
Andhra Bank has ranked No.1 in terms of number of Life Insurance Policies mobilized among all the agency banks dealing with the Life Insurance Corporation of India. The bank also has tie-up with United India Insurance Company Limited under Bancassurance (Non-Life). (source:Wikipedia)
Andhra Bank Fixed Deposit (FD) Rates
Andhra Bank FD Rates
|Best Interest Rate for 6 Months < 1 Year||6.60%|
|Best Interest Rate for 1 Year < 2 Years||6.80%|
|Best Interest Rate for 2 Years < 3 Years||6.75%|
|Best Interest Rate for 3 Years < 4 Years||6.75%|
|Best Interest Rate for 4 Years < 5 Years||6.75%|
|Best Interest Rate for 5 Years and Above||6.50%|
Key Benefits of Fixed Deposits in Andhra Bank
- Andhra Bank offers FD interest rates up to 7.00% per annum.
- Interest on deposits with Andhra Bank is compounded annually.
- Andhra Bank accepts deposits starting at Rs.1000 for various tenures.
- For senior citizens Andhra Bank offers higher interest rate over and above rates mentioned above
- Andhra Bank Fixed Deposit.
- Premature Withdrawal-You may break you FD and withdraw your money subject to minimum stipulated requirements.
- Andhra Bank offers loan against its own deposit.
- Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.
- You can claim Tax exemption in Andhra bank by submitting 15G/15H.
- Recurring Deposit Rates are same as FD Rates in Andhra Bank
- In Andhra Bank you can take quarterly or monthly payouts from your Fixed Deposits.
- Open a Fixed Deposit Account easily through a number of channels like Internet or Phone Banking or simply by visiting you nearest Andhra Bank branch.
Digital products/Apps by Andhra Bank
Andhra Bank Finance
Andhra Bank offers ‘’mPay’’ solution the next generation mobile banking service aiming to be the Bank in the customers pocket with a whole new and exciting range of services and features. Besides the application, SMS Banking and USSD channels are supported.
* User friendly interface with touch screen UI support
* Balance Inquiry (With combined Available Balance)
* Mini Statement (Last 9 transactions with available balance)
* Quick payment feature in Mobile to Mobile and Mobile to Account Fund transfer
* Immediate Payment Service (IMPS)
* Airline and Movie Ticketing
* Bill Payment and Donations
* Offline Service RequestsType your paragraph here.
Andhra Bank e-Passbook
Andhra Bank in partnership with Citrus Pay presents AndhraBank Cube – your Digital Personal Payments Manager. It enables you to create reminders for all your household payments, irrespective of how you make the payment - Cash, Cheque or Digital. It empowers you to make payments instantly using Debit or Credit cards, Net-Banking and Citrus Cash (prepaid digital cash). All payments marked in AndhraBank Cube are presented in a graphical or tabular manner for tracking payments.
With AndhraBank Cube, you can pay your mobile, DTH, broadband, landline, electricity and gas bills. Shortly, AndhraBank Cube will also be enabled for payments such as staff salaries, school fees, society dues, Gym fees etc.
Features and Benefits
Reminders -To help you save money by making payments on time.
Pay Easy - Quick bill payments & recharges for mobiles, DTH, Electricity, Gas & more.
Track Bills - Track your payments