Andhra Bank increases interest rate on deposits

Hyderabad, Jun 2 (UNI) Andhra Bank today announced upward revision of interest rates on NRE and FCNR (B) deposits.

According to a press release from the bank, the interest rate on NRE deposits for tenure of one year and above but less than two years has been hiked to 6.43 per cent from 6.30 per cent.

For two years and above but less than three years, the rate has been revised to 6.43 per cent from the present 6.30 per cent.

For tenure of three years and above, the interest rate has been hiked to 6.45 per cent from 6.30 per cent.

On FCNR (b) Accounts, the interest rate for USD for one year and above but less than two years and for two years and above but less than three years, the interest rate would be 5.43 per cent.

Deposits for more than three years and above but less than four years would fetch 5.45 per cent and for those above four years and less than five years, the rate had been fixed at 5.47 per cent.

For five-year deposits, the rate would be 6.51 per cent.

UNI JRK JJ GM 2000