NEWS & ADVICE : FIXED DEPOSITS
Allahabad Bank's new interest rates on deposit
By Neelima Shankar
Nov 6, 2013
Print    Email    RSS   

Allahabad Bank on Monday had hiked the domestic term deposits interest rates. The new rates which were between 50-120 base points, were applicable for the term deposits of various maturities which were lower than Rs.1 cores.

In a statement made by the leader of the state of the bank, the increase in the deposits rates was like a Diwali bonanza. After the decision of the Reserve Bank of India on October 29, 2013, to increase the repo rate by 25 base points, Out of the few banks that have increased the interest rates, Allahabad Bank was one of them.

There has been no official announcement made by this public sector bank regarding its lowest lending rate or base rate. As of now, the base rate of the bank stands at 10.20%. On the below Rs.1 crore of domestic term deposits, the interest rate provided by Allahabad Banks is now 5-9%. An additional 0.50% on the rate, will be given to Senior citizens


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #2
Things to know before retirement
Manage your FD in a better way
Carnival of Indian Personal Finance Blogs...
Need of nomination in bank accounts


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive