Top Fixed Deposit Rates: Andhra Pragathi Grameena Bank
Top Fixed Deposit Rates: Andhra Pragathi Grameena Bank
Mar 22, 2024
15 Mins
Andhra Pragathi Grameena Bank has recently announced its fixed deposit interest rates for the current year. These rates vary depending on the tenure of the deposit and whether the depositor is a normal citizen or a senior citizen.
For a tenure of 7 days to 1 month and 14 days, the interest rate for both normal citizens and senior citizens is 4%. This rate increases to 5.25% for a tenure of 1 month and 15 days to 2 months and 29 days. Similarly, for a tenure of 2 months and 30 days to 5 months and 26 days, the interest rate is 5.5%.
The highest interest rate of 7.6% is offered for a tenure of 5 years to 9 years and 11 months and 26 days, but this rate is applicable for senior citizens only. Normal citizens can earn a maximum interest rate of 7.1% for a tenure of 1 year.
Andhra Pragathi Grameena Bank was established on June 1, 2006, through the merger of Rayalaseema Grameena Bank, Sri Anantha Grameena Bank, and Pinakini Grameena Bank. The bank operates under the Regional Rural Banks Act of 1976, with its Head Office located in Kadapa. It has a total of 552 branches serving customers across 5 districts.
Minimum deposit for an Andhra Pragathi Grameena Bank fixed deposit is ₹ 500, with no maximum deposit limit specified. The bank also offers the option of flexible tenure and partial withdrawal facility. Additionally, customers can track their existing fixed deposits through the bank's services.
For investors considering Andhra Pragathi Grameena Bank fixed deposits, here are some examples of returns based on different investment amounts. For a 3-year investment with an interest rate of 7%, an investment of ₹ 50,000 would yield a maturity amount of ₹ 61,646, while an investment of ₹ 10 lakh would yield ₹ 12,32,926. For a 5-year investment with the same interest rate, ₹ 50,000 would yield ₹ 70,881, and ₹ 10 lakh would yield ₹ 14,17,625.
It's important to compare fixed deposit rates across different banks before making any investment decision. Some other banks offering competitive interest rates include Utkal Grameen Bank, Punjab and Sind Bank, and Saptagiri Grameena Bank.
Andhra Pragathi Grameena Bank has recently announced its fixed deposit interest rates for the current year. These rates vary depending on the tenure of the deposit and whether the depositor is a normal citizen or a senior citizen.
For a tenure of 7 days to 1 month and 14 days, the interest rate for both normal citizens and senior citizens is 4%. This rate increases to 5.25% for a tenure of 1 month and 15 days to 2 months and 29 days. Similarly, for a tenure of 2 months and 30 days to 5 months and 26 days, the interest rate is 5.5%.
The highest interest rate of 7.6% is offered for a tenure of 5 years to 9 years and 11 months and 26 days, but this rate is applicable for senior citizens only. Normal citizens can earn a maximum interest rate of 7.1% for a tenure of 1 year.
Andhra Pragathi Grameena Bank was established on June 1, 2006, through the merger of Rayalaseema Grameena Bank, Sri Anantha Grameena Bank, and Pinakini Grameena Bank. The bank operates under the Regional Rural Banks Act of 1976, with its Head Office located in Kadapa. It has a total of 552 branches serving customers across 5 districts.
Minimum deposit for an Andhra Pragathi Grameena Bank fixed deposit is ₹ 500, with no maximum deposit limit specified. The bank also offers the option of flexible tenure and partial withdrawal facility. Additionally, customers can track their existing fixed deposits through the bank's services.
For investors considering Andhra Pragathi Grameena Bank fixed deposits, here are some examples of returns based on different investment amounts. For a 3-year investment with an interest rate of 7%, an investment of ₹ 50,000 would yield a maturity amount of ₹ 61,646, while an investment of ₹ 10 lakh would yield ₹ 12,32,926. For a 5-year investment with the same interest rate, ₹ 50,000 would yield ₹ 70,881, and ₹ 10 lakh would yield ₹ 14,17,625.
It's important to compare fixed deposit rates across different banks before making any investment decision. Some other banks offering competitive interest rates include Utkal Grameen Bank, Punjab and Sind Bank, and Saptagiri Grameena Bank.
Author
Pluto Team
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