Andhra Bank's new deposit scheme

Andhra Bank has introduced a new term deposits scheme ‘Pattabhi Plus’ at 9.1 per cent per annum for a tenure of 500 to 1,000 days. It also increased interest rates from 7.5 per cent to 8 per cent for a maturity period of six months to less than one year on amounts less than Rs 50 lakh. The interest rate has been revised from 8 per cent to 8.5 per cent for deposits for one year to less than two years and to 8.6 per cent for deposits of three to five years’ tenure. It will offer 0.5 per cent extra for the senior citizen on all term deposits, according to a bank release here on Wednesday.