Abhyudaya Bank Fixed Deposit
Abhyudaya Bank Fixed Deposit lets you earn interest on a lump-sum deposit with Abhyudaya Co-operative Bank, with extra returns for senior citizens. Minimum deposit amounts are low and documentation is simple across schemes, including options for Non-Resident Indians.
With minimum amount required to open a fixed deposit account and hassle-free documentation, the bank makes opening a fixed deposit accessible to a large section of India's demographic, whether salaried or not.
The bank also offers fixed deposit schemes for Non-Resident Indians.
Types of Fixed Deposits from Abhyudaya Cooperative Bank
Abhyudaya Co-operative Bank offers the following fixed deposit schemes:
- Monthly Income Deposit Scheme
- Quarterly Interest Deposit Scheme
- Fixed Deposit Receipt
- Quarterly Interest cum Reinvestment Plan
- Abhyudaya Tax Saving Scheme
Scheme Name | Features |
Monthly Income Deposit Scheme | Minimum deposit of Rs.500 Monthly payout of interest amount Loan against deposit of up to 90% of deposit amount can be availed Can be opened in minor's name by the parent-approved by the bank |
Quarterly Interest Deposit Scheme | Minimum deposit of Rs.500 Quarterly payout of interest amount Loan against deposit of up to 90% of the accrued value can be availed Can be a joint account |
Fixed Deposit Receipt | Minimum deposit of Rs.500 Interest amount paid at the time of maturity |
Quarterly Interest cum Reinvestment Plan | Minimum deposit of Rs.500 Interest amount paid at the time of maturity Loan can be availed up to 90% of the deposit amount |
Abhyudaya Tax Saving Scheme | Avail tax deduction of up to Rs.1.5 lakh in a financial year for the investment Lock-in period of 5 years Minimum Rs.5,000 as deposit and thereafter in multiples of Rs.100 Nomination facility available |
If the original Fixed Deposit Receipt is lost, the depositor must inform Abhyudaya Bank immediately and submit an application as per the bank's process; the bank then issues a duplicate receipt after charging the applicable duplicate receipt charges.
Abhyudaya Co-operative Bank Fixed Deposit Interest Rate
Tenure | Regular Interest Rate (p.a.) | Senior Citizen Interest Rate (p.a.) |
7 days to 45 days | 3.75% | 4.00% |
46 days to 90 days | 4.15% | 4.40% |
91 days to 180 days | 5.40% | 5.90% |
181 days to 12 months | 6.05% | 6.50% |
Above 12 months and up to and inclusive of 24 months | 6.20% | 6.60% |
Above 24 months and up to and inclusive of 36 months | 6.40% | 6.75% |
Above 36 months and up to and inclusive of 60 months | 6.15% | 6.65% |
Above 60 months and up to and inclusive of 120 months | 5.90% | 6.15% |
Note: The interest rates are effective from 1 September 2026, and are subject to change at the discretion of the bank.
Abhyudaya Bank also publishes separate interest rates for NRE Term Deposits, shown below.
Tenure | Interest Rate (p.a.) |
181 days to 12 months | 6.05% |
Above 12 months and up to and inclusive of 24 months | 6.20% |
Above 24 months and up to and inclusive of 36 months | 6.40% |
Above 36 months and up to and inclusive of 60 months | 6.15% |
Above 60 months and up to and inclusive of 120 months | 5.90% |
Note: The interest rates are effective from 1 September 2026, and are subject to change at the discretion of the bank.
Eligibility Criteria to Open Abhyudaya Co-operative Bank FD
- The following entities can open a fixed deposit account with the bank:
- Individuals approved by the bank
- Associations, cooperative societies, institutions, and registered trusts
- Minors if the parent is approved by the bank
Summary
Abhyudaya Co-operative Bank offers fixed deposit schemes to suit different payout needs, from monthly and quarterly interest options to a tax-saving scheme with benefits under Section 80C. Rates vary by tenure and are higher for senior citizens, with loans available against most deposits. Compare the scheme features and current rates above before choosing the Abhyudaya Bank FD that fits your goals.
FAQs on Abhyudaya Co-operative Bank Fixed Deposit
1.What is Abhyudaya Bank Fixed Deposit?
Abhyudaya Bank Fixed Deposit is a term deposit offered by Abhyudaya Co-operative Bank that lets you earn interest on a lump sum for a chosen tenure. The bank offers multiple Abhyudaya Bank FD schemes with different interest payout options. Senior citizens earn an additional rate over the regular rate on every scheme.
2.What types of Abhyudaya Bank Fixed Deposit schemes are available?
Abhyudaya Bank offers the Monthly Income Deposit Scheme, Quarterly Interest Deposit Scheme, Fixed Deposit Receipt, Quarterly Interest cum Reinvestment Plan, and the Abhyudaya Tax Saving Scheme. Each Abhyudaya Bank FD scheme differs in how and when interest is paid out. The scheme features are listed in the table above.
3.Who can open an Abhyudaya Bank Fixed Deposit account?
Individuals approved by the bank, associations, cooperative societies, institutions, and registered trusts can open an Abhyudaya Bank Fixed Deposit. A minor can also hold an Abhyudaya Bank FD account through a parent approved by the bank. Eligibility can vary slightly by scheme.
4.What is the minimum amount to open an Abhyudaya Bank Fixed Deposit?
Most Abhyudaya Bank Fixed Deposit schemes can be opened with a minimum deposit, as listed in the scheme features table above. The Abhyudaya Tax Saving Scheme has its own separate minimum deposit requirement. The exact minimum depends on the scheme chosen.
5.Does Abhyudaya Cooperative Bank offer fixed deposits for NRIs?
Yes, Abhyudaya Cooperative Bank offers fixed deposit accounts for Non-Resident Indians in addition to its domestic Abhyudaya Bank FD schemes. NRE deposit rates are listed separately from the regular Abhyudaya Bank Fixed Deposit rates above. Depositors should check the current NRE rates before applying.
6.Can I get a loan against my Abhyudaya Bank Fixed Deposit?
Yes, Abhyudaya Bank allows a loan against deposit on most Abhyudaya Bank FD schemes, up to a set share of the deposit value. This facility is not available on the Abhyudaya Tax Saving Scheme. The loan-against-deposit terms differ by scheme, as shown in the table above.
7.Where does the interest get credited for Abhyudaya Bank Fixed Deposits?
Interest on an Abhyudaya Bank Fixed Deposit is credited to the depositor's bank account or paid in cash, depending on the depositor's preference. The payout frequency depends on the Abhyudaya Bank FD scheme chosen, such as monthly or quarterly. Maturity-linked schemes pay the full interest at the end of the tenure.
8.What is the Abhyudaya Tax Saving Scheme?
The Abhyudaya Tax Saving Scheme is a fixed deposit that lets depositors claim a tax deduction on their investment under Section 80C of the Income Tax Act. It comes with a fixed lock-in period during which the deposit cannot be withdrawn. Loan against deposit is not available under this Abhyudaya Bank scheme.
9.Is loan against deposit available for Abhyudaya Bank's Tax Saving Scheme?
No, loan against deposit is not available for the Abhyudaya Tax Saving Scheme. This restriction applies only to the tax-saving Abhyudaya Bank FD and not to the bank's other fixed deposit schemes. The bank's other Abhyudaya Bank Fixed Deposit schemes do allow a loan against the deposit.
10.What happens if I lose my Abhyudaya Bank Fixed Deposit receipt?
If the original Abhyudaya Bank Fixed Deposit Receipt is lost, the depositor must inform the bank immediately and submit an application as per the bank's process. Abhyudaya Bank then issues a duplicate receipt after verifying the deposit details. A duplicate receipt charge applies as per the bank's applicable rates.
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