Andhra Bank FD Calculator
Andhra Bank Domestic Term Deposits Less than Rs.2 Crore
| Tenure | Rate of Interest (p.a.) |
| 7 to 45 Days | 3.00% |
| 46-90 Days | 3.50% |
| 91 to 120 Days | 3.75% |
| 121 to 180 Days | 4.30% |
| 181 Days to less than 1 Year | 4.40% |
| 1 Year | 5.00% |
| More than 1 Year to less than 2 Years | 5.20% |
| More than 2 years to less than 3 years | 5.40 % |
| More than 3 years to less than 5 years | 5.50 % |
| 5 years to 10 years | 5.60% |
Note: The FD interest rates are effective as of 19 September 2022
Andhra Bank Tax Saving FD Rates
| Tenure | Rate of Interest (p.a.) |
| 5 years | 5.50% |
Note: The FD interest rates are effective as of 10 May 2022
Andhra Bank NRE FD Rates:
| Tenure | Rate of Interest (p.a.) |
| 1 Year | 5.00% |
| Above 1 year up to 2 years | 5.20% |
| Above 2 years up to 3 years | 5.40% |
| Above 3 years up to 5 years | 5.50% |
| Above 5 years up to 10 years | 5.60% |
Note: The FD interest rates are effective as of 10 May 2022
Andhra Bank FCNR (B) Deposit Interest Rates
| Currency | 1 Year and above but less than 2 Years | 2 Years and above but less than 3 Years | 3 Years and above but less than 4 Years | 4 Years and above but less than 5 Years | 5 years |
| USD < 300,000 | 0.85 | 0.84 | 1.12 | 1.29 | 1.4 |
| USD > 300,000 | 0.85 | 0.94 | 1.22 | 1.39 | 1.5 |
| GBP | 0.6 | 0.79 | 0.93 | 1.04 | 1.11 |
| EUR | 0.01 | 0.01 | 0.01 | 0.02 | 0.08 |
| AUD | 0.19 | 0.35 | 0.58 | 0.77 | 0.96 |
| JPY | 0.01 | 0.07 | 0.1 | 0.08 | 0.09 |
| CAD | 0.58 | 0.89 | 1.14 | 1.36 | 1.56 |
Note: The FD interest rates are effective as of 1 November 2021
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Andhra Bank FD Calculator
Fixed deposits are safe and secure investment avenues that offer guaranteed returns in the form of interest. Banks and NBFCs offer fixed deposits and the interest range varies from one tenure to another. The deposit amount also has a role to play in determining the rate of interest.
Andhra Bank provides fixed deposit facility to its existing customers at attractive interest rates. This public sector bank merged with Union Bank of India in April, 2020 so all Union Bank FD rates will be applicable for Andhra Bank FDs. Before you start investing in Andhra Bank fixed deposit, you need to find out the most appropriate tenure and interest rate so that the returns align with your financial goal. The Andhra Bank fixed deposit calculator can be of great in this regard.
Andhra Bank Fixed Deposit (FD) Calculator
As previously mentioned, the interest rates are variable and keep changing as the tenure and deposit amount change. Hence, if you try to figure out the best possible combination of tenure, interest rate and deposit amount for a profitable return, you might find it challenging to do so manually. An online Andhra Bank fixed deposit calculator can be an excellent tool to make this process easy for you.
Andhra Bank offers an interest rate range between 3% and 7.30% on fixed deposits for general citizens for deposits of less than ₹2 crore. Senior citizens enjoy the benefit of an additional interest rate of 0.50% for a deposit amount of up to ₹5 crore only. The tenure varies from 7 days to 10 years.
How Does the Online Andhra Bank FD Calculator Work?
There are two types of interest that a fixed deposit accrues- simple and compound interest.
If your fixed deposit accrues simple interest, you can use the following formula for maturity calculation:
M= P+ (PXRXT/100)
In this formula, M denotes maturity amount, P is the investment amount, T is tenure of investment and R is rate of interest.
If your FD accrues compound interest, the following formula is used for manual calculation:
A = P (1 + r/n) ^ n*t
In this formula, “A” represents the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” implies the annual Andhra Bank fixed deposit rate of interest
“n” stands for the frequency of compounding interest
“t” represents the investment term or tenure
You need to enter the preferred investment amount, tenure and interest rate to calculate an accurate interest amount while using an Andhra FD calculator.
Let’s understand how this formula works with the help of this illustration:
Let’s assume you have invested in a fixed deposit investment of ₹80,000 for 5 years at an annual interest rate of 6.5%.
As per the formula:
A = 80,000 (1 + 6.5%/1) ^ 1*5
A = ₹1,10,434
So, the interest amount is A – P, i.e., ₹1,10,434 – ₹ 80,000 = ₹30,434
To use this tool, you need to simply enter the following details in the online tool:
- Investment tenure
- Investment amount and
- Rate of interest
Benefits of an Online Andhra Bank FD Calculator
Here are some of the remarkable benefits of an online FD calculator for Andhra Bank:
- The calculation process is really easy and simple with this tool.
- There is no chance of error with this automatic online calculator.
- The Andhra Bank fixed deposit rate varies depending on the investment tenure. So, you can compare the returns from various FD schemes and select a suitable one.
- This free online tool helps plan investment goals in a hassle-free way.
- This tool is completely free and can be used anytime anywhere. You don’t need to provide any personal details or sign up.
Upstox Andhra bank fixed deposit calculator is a simple and easy tool that helps you determine the interest and maturity amount of your fixed deposit. Additionally, it features a user-friendly interface to enhance user experiences. If you are thinking of investing in Andhra FD , use this online tool to get a clear idea of your returns.
Frequently Asked Questions
What is the highest interest rate on Andhra Bank FD?
The highest interest rate on Andhra Bank FD for general citizens is 7.30%. However, senior citizens benefit from a higher rate of interest which can go up to 7.80%. This is for investments of less than ₹2 crore.
Do we have a premature withdrawal facility on Andhra Bank FD?
Yes, a premature withdrawal facility is available on Andhra FD. However, you will have to pay an applicable penalty.
What is the minimum amount of investment for FDs under Andhra Bank?
The minimum amount of investment for FDs under Andhra Bank is ₹1000.
In how many years has FD doubled in the Andhra Bank?
You can easily find out in how many years your Andhra FD will double by using the Rule of 72. You need to divide 72 with the interest rate applicable on your FD. For example, if your FD attracts an interest rate of 5.9% per annum, your FD will double in (72/5.9) 12.20 years.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit an extra amount into an already-running FD. However, you can book another fixed deposit.
Who are eligible to open an Andhra Fixed Deposit Account?
Any individual, senior citizens, partnership firms, trusts, societies, associations, public and private limited companies, HUFs, and NRIs can open an Andhra fixed deposit account.
What is the lock-in period for Tax Saving FD Scheme?
The lock-in period for tax-saving FD scheme is typically 5 years. During this lock-in tenure, you can neither make an early withdrawal nor avail of loan against FD facility.
Are there any special rates for senior citizens?
Yes, Andhra Bank offers an additional rate component of 0.50% for senior citizens FDs. This is only applicable for deposits up to ₹5 crore.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.