Andhra Bank Savings Account Interest Rates

Andhra Bank offers an interest rate ranging upto 2.90% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Andhra Bank Savings Account youth and minors can get additional benefits on their Savings Account. Andhra Bank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

Andhra Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Andhra Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of Andhra Bank savings account are:

• It offers interest rates upto 2.90% p.a. You can easily access Andhra Bank Savings Account anywhere through a large network of branches and ATMs .
• If you want to transfer funds from Andhra Bank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
• To maintain an Andhra Bank Savings account, you require a minimum balance of Rs. 150.
• Andhra Bank personalized account number and cheque book enhances security and ensures your money is safe.
• You can get SMS Alerts and e-statement facilities with Andhra Bank Savings Account.
• With the Auto Sweep Facility of Andhra Bank, your account can be linked to a Multi Option Deposit MOD account.

Saving Account	Interest Rate	Minimum Balance
AB Kiddy Bank	2.90% - 2.90%	Rs. 100
AB Abhaya Plus	2.90% - 2.90%	N.A
AB Easy Savings No frills account	2.90% - 2.90%	Rs. 5
Abhaya SB Account	2.90% - 2.90%	Rs. 150
AB Gold Account	2.90% - 2.90%	N.A
AB Jeevan Abhaya	2.90% - 2.90%	N.A
AB Super Salary SB Account	2.90% - 2.90%	Rs. 5,000 should be maintained except when the account is in debit balance
AB Platinum Savings Bank Account	2.90% - 2.90%	Rs. 5,00,000 QAB
AB Diamond Savings Bank Account	2.90% - 2.90%	Rs. 3,00,000
Abhaya First Wealth Pack	2.90% - 2.90%	Rs. 25,000 to Rs. 1,00,000
AB Jeevan Abhaya Double Plus	2.90% - 2.90%	N.A
AB Jeevan Abhaya Triple Plus	2.90% - 2.90%	N.A
AB Little Stars	2.90% - 2.90%	Rs. 250 to Rs. 500
AB Teens	2.90% - 2.90%	N.A

To open a savings account in Andhra Bank, you need to fulfill the following eligibility criteria:

• You need to have valid KYC Documents.
• You can open a savings account singly or jointly.

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

• Application Form with attested photographs
• Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
• Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

As per the RBI mandate, Andhra Bank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by Andhra Bank to calculate interest on Savings Bank Account on the basis of daily balance in the account

Interest = Amount (Daily balance)*(No of days)* Interest/Days in the year.

• AB Kiddy Bank : Andhra Bank offers interest rates ranging between 2.90% to 2.90% on AB Kiddy Bank.You can open a AB Kiddy Bank in Andhra Bank by depositing Rs. 100 amount as minimum balance.
• AB Abhaya Plus : If you have deposited your excess funds in a AB Abhaya Plus, you can get interest at 2.90% to 2.90% on your account. This account can be opened by anyone with a minimum age of 18 years.
• AB Easy Savings No frills account : Andhra Bank provides interest rates ranging between 2.90% to 2.90% on AB Easy Savings No frills account. The minimum balance requirement to open this account is Rs. 5.
• Abhaya SB Account : You can get interest at 2.90% and 2.90% respectively on Abhaya SB Account in Andhra Bank. The account can be opened in Andhra Bank by depositing Rs. 150 amount.The debit card available for this account are International Debit card).
• AB Gold Account : If you have deposited your excess funds in a AB Gold Account, you can get interest at 2.90% to 2.90% on your account.
• AB Jeevan Abhaya : You can get interest at 2.90% to 2.90% in AB Jeevan Abhaya. This account can be opened in Andhra Bank by depositing a minimum amount of after an age of 18 years.
• AB Super Salary SB Account : The interest that you can earn on AB Super Salary SB Account is in the range of 2.90% to 2.90% respectively.The debit card available for this product isPersonalized Debit card
• AB Platinum Savings Bank Account : Andhra Bank provides interest rate at 2.90% to 2.90% on AB Platinum Savings Bank Account. Further, to open this Saving Account, the minimum balance requirement is Rs. 5,00,000 QAB. You can open this account at a minimum age of 18 years.

✅How much interest is charged by Andhra Bank on Savings Account?

As per the current rates, Andhra Bank offers maximum interest rate of 2.90% on Savings Account. Andhra Bank provides this interest on the minimum balance maintenance of Rs. 150. The interest rate may however vary across the Andhra Bank savings account product.

✅What is the minimum amount required for opening Savings Account in Andhra Bank?

The minimum amount required for opening a Savings Account in Andhra Bank is Rs. 150.

✅How does Andhra Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Andhra Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

✅Does Andhra Bank offer Debit Card to the account holder?

Yes, Andhra Bank offer Debit Cards to the account holders differing according to the product. Some of the popular savings account products of Andhra Bank with the type of Debit Card offered are listed in the table below.

AB Easy Savings No frills account	No
Abhaya SB Account	International Debit card
AB Gold Account	International Debit card
AB Super Salary SB Account	Personalized Debit card
AB Little Stars	Rupay ATM Cards with Photo
AB Teens	Rupay ATM Cards with Photo

✅What is the eligibility criteria to open a savings account in Andhra Bank?

To open a savings account in Andhra Bank you need to fulfill the following eligibility criteria:

• Savings Account can be opened by an individual or jointly by two or more individuals.
• The age limit for opening the account is 5 years or more and below 75 years.
• You must have your basic KYC done