As the lending rates are soaring so are the deposit rates, people are facing difficulties due to continuous hike in the loan interest rates but at the same time banks are attracting more and more people to invest with them through the term deposit schemes by offering irresistible deposit rates.
Andhra Bank has also done the same and has announced a hike in the fixed deposit rates across various maturity periods like for tenure of 46 to 90 days the deposit rate has been increased from 5% to 6%. The hike in deposit rates is made in the range of 0.25% to 1.00%.
The revised rates are applicable from 8th August.
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