Recently, Andhra Pragathi Grameena Bank unveiled its fixed deposit interest rates for this year, tailored by tenure and depositor classification (normal vs. senior citizens). For a period spanning 7 days to 1 month and 14 days, both depositor categories receive a 4% interest rate. This rate rises to 5.25% for terms of 1 month and 15 days to 2 months and 29 days. Further, for tenures of 2 months and 30 days to 5 months and 26 days, the interest is set at 5.5%.

The highest interest rate of 7.6% is reserved for senior citizens for tenures ranging from 5 years to 9 years, 11 months, and 26 days. In contrast, normal citizens can achieve a maximum interest of 7.1% for a term of 1 year.

Founded on June 1, 2006 following the merger of Rayalaseema Grameena Bank, Sri Anantha Grameena Bank, and Pinakini Grameena Bank, Andhra Pragathi Grameena Bank operates under the Regional Rural Banks Act of 1976. The head office is located in Kadapa, overseeing 552 branches across five districts.

The minimum deposit for a fixed deposit is ₹ 500, with no upper limit. Benefits include flexible tenure and a partial withdrawal option, and customers can monitor their fixed deposits through the bank's services.

Considering investment returns? An example: a 3-year deposit at 7% interest on ₹ 50,000 results in ₹ 61,646 maturity, whereas ₹ 10 lakh returns ₹ 12,32,926. A 5-year investment at the same rate yields ₹ 70,881 from ₹ 50,000, and ₹ 14,17,625 from ₹ 10 lakh.

When exploring fixed deposit options, compare rates across institutions. Competitors with attractive rates include Utkal Grameen Bank, Punjab and Sind Bank, and Saptagiri Grameena Bank.