Abhyudaya Bank Fixed Deposit Interest Rates

Abhyudaya Bank Tax Saver Deposit (Abhyudaya Tax Saving Scheme (ATSS))

Tenure	Interest Rate (% p.a.)
5 years	6.25%

Interest Rates on NRE Term Deposits w. e. f. 19 January 2023

Tenure	Interest Rates (% p.a.)
12 months	6.60
Above 12 months and up to & inclusive of 24 months	7.00
Above 24 months and up to & inclusive 36 months	7.60
Above 36 months and up to & inclusive of 120 months	6.25

Interest Rates on NRO Fixed Deposits w.e.f. 1 June 2023

Tenure	Interest Rates (% p.a.)
7 days and above up to & inclusive 90 days	4.25
91 days and above up to  & inclusive 180 days	5.50
181 days and above up to and inclusive of 12 months	6.60
Above 12 months and up to & inclusive of 24 months	7.00
Above 24 months and up to & inclusive of 36 months	7.60
Above 36 months and up to & inclusive of 120 months	6.25

Interest Rates on FCNR/RFC Fixed Deposits w.e.f. 1 December 2023 to 31 December 2023

Tenure	USD (% p.a.)
1 year to less than 2 years	7.82
2 years to less than 3 years	7.82

Types of Abhyudaya Bank FD Schemes

Regular Fixed Deposit

• In this scheme, the interest amount is paid to the depositor at the time of maturity
• Minimum deposit amount: Rs 500
• Tenure: 7 days to 10 years
• Term Deposit Certificate will be issued to the depositor(s) showing the amount deposited, the duration for which the FD is accepted, maturity amount and maturity date

Abhyudaya Tax Saving Scheme (ATSS)

• Deposits under this scheme are eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
• Minimum deposit amount: Rs 5,000
• Lock in period: 5 years
• Interest will be paid every quarter
• Deposits are not allowed to be pledged to secure a loan or security on any asset

Quarterly Interest Cum Reinvestment Plan

• Minimum deposit amount: Rs 500
• The interest amount is paid at maturity
• Loan can be availed against 90% of the deposit amount

Monthly Income Deposit Scheme

• In a monthly income deposit scheme, the interest amount is either paid in cash or credited to the depositor’s account monthly
• Minimum deposit amount: Rs 500
• Loan facility is available against 90% of the deposit amount

Quarterly Interest Deposit Scheme

• In this scheme, the interest amount is paid quarterly, either in cash or credited to the depositor’s savings/current account
• Minimum deposit amount: Rs 500
• Loan can be availed against 90% of the deposit amount (accrued value)

Non-Resident Deposits

• Eligibility: Non-Resident individuals of Indian origin /nationality
• Tenure: 1 year to 3 years
• Loans to deposit holders or third parties in India are allowed against the security of deposits
• The principal and the interest amount can be repatriated outside India without reference to RBI
• Maturity proceeds, sale or repurchase proceeds of units of securities, UTI or certificates originally purchased out of deposits in these accounts can be credited without reference to RBI.

Premature Withdrawal of Fixed Deposits

• If FD is prematurely withdrawn after completion of 7 days from the date of auto-renewal, then interest will be paid at the applicable rate by deducting a penalty of 1% for the tenure the deposit has actually remained with the bank.
• No interest will be paid if the deposit is withdrawn within 7 days from the date of renewal
• No penalty will be charged in the case of premature closure of auto-renewed fixed deposits for the purpose of re-investment for a longer duration
• In case the depositor requests the FD duration for a shorter period
  • If the depositor approaches the bank within 15 days from the date of auto-renewal of deposit, no penalty of 1% will be charged and the due date will be calculated from the date of FD renewal.
  • If the depositor approaches the bank after 15 days from the date of auto-renewal of the deposit, interest will be paid at the applicable rate by deducting a penalty of 1% for the duration the FD has actually remained with the bank and a deposit fresh receipt for a shorter period from the date of request will be issued.

Abhyudaya Bank FD Calculator

Abhyudaya FD Calculator is a tool using which interested customers can get an estimate of the benefits they may receive on investing in an FD scheme. Inputs like deposit amount and tenure along with the prevailing Abhyudaya Bank FD rates are required based on which calculations are made and the maturity amount is provided. Depositors should compare fixed deposit rates across multiple banks and can make use of this tool available at Paisabazaar.com so as to save time on manual calculation and make a well-informed decision.

FAQs

Q. What is the highest Abhyudaya Bank FD interest rate?

A. Currently, Abhyudaya Bank offers the highest FD interest rates of 7.75% on a tenure of 500 days

Q. Can a minor apply for an FD scheme by Abhyudaya Bank?

A. Parent(s) can apply for Abhyudaya FD scheme on behalf of their minor children.