The public sector bank, Allahabad Bank, has changed its interest rates on selected fixed deposit schemes having less than Rs. 5 crore as deposit amount. The revised interest rates have become effective from November 15.
The bank has increased its interest rates by 25 to 150 basis points for deposits having various maturity periods and has decreased the rates for term deposits reaching maturity after one year but before the completion of two years by 10 bps to 9.15 percent.
In addition to this, the Kolkata based bank has also increased the upper limit for making deposits for the AllBank Liquid Term Deposit Scheme. Earlier deposits under this scheme could be made up to the amounts of Rs. 50 crore which has now been increased to Rs. 100 crore.