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Andhra Pradesh
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Hyderabad
AB introduces new scheme
Special Correspondent
HYDERABAD: Andhra Bank has introduced a new deposit scheme ‘AB-400' and increased interest rate on ‘AB Pattabhi Deposit' scheme and domestic term deposits with effect from December 11. According to a bank press release here on Friday, the interest rate on ‘AB 400 for 400 days' scheme is 8.25 per cent and the offer is valid up to 15, January 2011.
The rate of interest on ‘AB Pattabhi Deposit' scheme has been enhanced to 8.50 per cent and the deposit will be accepted from 500 to 1,000 days. For 7 to 14 days (Rs. 1 lakh and above deposits) the interest rate has been enhanced to3.50 per cent from the existing 2.00 per cent.
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