Andhra Bank revises interst on deposits

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Hyderabad, Oct 9 (UNI) Andhra Bank has revised its interest rates on domestic term deposits with effect from yesterday.

For the maturity period of seven days to 14 days, the rate of interest would be 2.75 per cent for less than 15 lakhs, Rs 15 lakhs to one crore, Rs one crore to five crore and above Rs five crore.

The rate of interest for the maturity period of 15 days to 45 days would be 4.5 per cent for less than Rs 15 lakhs and 4.75 per cent for Rs 15 lakhs to one crore, Rs one crore to five crores and above Rs five crore, a Bank release said here today.

The interest rate for 46 days to 90 days would be five per cent for less than Rs 15 lakhs and 5.25 per cent for Rs 15 lakhs to one crore, Rs one crore to five crore and above Rs five crore. The interest rate would be the same (6.25 per cent for the maturity period of 91 days to 119 days and 120 to 179 days in all the categories).

For the maturity period of six to less than nine months and nine months to less than 12 months, the rate of interest would be seven percent for less than Rs 15 lakhs and Rs 15 lakhs to one crore, and eight per cent for Rs one crore to five crore and above Rs five crore.

The rate of interest would be 8.75 per cent for the maturity period of one year to less than two years in all categories. 8.50 per cent for two years to less than three years and 8.75 per cent for three years to less than five years and five years to ten years, the release added.

UNI

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