Andhra Bank launches new deposit scheme

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Hyderabad, Oct 14 (UNI) Andhra Bank has launched AB Super,' a new fixed and reinvestment deposit scheme, with effect from October eight.

The deposit scheme with a fixed period of 650 days will earn 10.25 per cent interest for amounts less than Rs 15 lakh and 10.50 per cent for amounts more than Rs 15 lakh. Senior citizens will get 0.50 per cent extra, a press release here said.

Individuals can make deposits, singularly or jointly with benefit of survivorship. Deposits can also be made in the names of minors and non-individuals constituents. Nomination facility was available under the scheme for a fixed period.

Deposits made under the scheme are highly liquid as both premature cancellation facility and loan facility are available as per rules, the release added.


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