Andhra Bank revises interest rates; sr citizens get 0.5 pc more

Hyderabad, Sep 15 (UNI) Public sector Andhra Bank today revised rates of interest on Domestic Term Deposits offering senior citizens 0.5 per cent higher rates per annum.

The interest rates offered on domestic term deposits of different maturity periods were hiked ranging from 0.25 to 0.5 per cent per annum, said a bank release here today.

While the interest rate of the deposits for seven to 14 days remained at 2.7 per cent, those for 15 days to 45 days with less than Rs 15 lakh at 4.25 per cent and at 4.5 per cent more than Rs 15 lakh deposits were revised to 4.5 per cent per annum.

For deposits of 46 days to 90 days with less than Rs 15 lakhs at 4.75 per cent and at five per cent for more than Rs 15 lakh was revised to five per cent.

Deposits for 91 days to 179 days with less than Rs 15 lakh at 5.5 per cent and at 5.75 per cent for more than Rs 15 lakh were revised to 5.75 per cent, and six months to one year with less than Rs 15 lakh at six per cent and at 6.25 per cent for more than Rs 15 lakh was revised to 6.25 per cent.

One year to two years deposits with less than Rs 15 lakh at 6.50 per cent and at 6.50 per cent for more than Rs 15 lakh were hiked to 7 per cent, and two years to three years with less than Rs 15 lakh at 6.5 per cent and at 6.5 per cent for more than Rs 15 lakh was revised to 7 per cent, release said.

Deposits for three years upto five years with less than Rs 15 lakh at 7.25 per cent and at seven per cent for more than Rs 15 lakh was revised to 7.25 per cent.

Five years and above with less than Rs 15 lakh at 7.50 per cent and at 7.25 per cent for more than Rs 15 lakh were revised to 7.5 per cent per annum.

For senior citizens, the rate of interest is 0.50 per cent higher for all maturity periods.

The revised interest rates will be applicable to all fresh deposits and renewals of the existing deposits with effect from September 15, the release added.

UNI DB JJ 1750