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Hyderabad Jan. 20 Andhra Bank has upwardly revised rates of interest on domestic term deposits with effect from January 19, 2007. These rates would be applicable to the Bank's Tax Saver Schemes also.

In the case of Senior Citizens, the rate of interest would be 0.50 per cent higher for all maturity periods.

The revised rates would be applicable to all fresh deposits and renewals of the existing deposits from January 19 and valid up to March 31, 2007.

According to a press release, the fresh interest rates offered on domestic term deposits of different maturity period are:

For less than Rs 15 lakh: 91 days to 179 days, new interest rate is 6 per cent (5.75); Six months to less than one year, new 6.5 per cent (6.25); one year to less than two years, new is 8.25 per cent (7.25).

For deposits of Rs 15 lakh and above: 91 to 179 days, new interest is 6.25 per cent (6); Six months to less than one year, new interest is 7 per cent (6.75); one year to less than two years, new interest is 8.25 per cent (7.25 per cent).

More Stories on : Fixed Deposits | Interest Rates | Public Sector Banks

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