A Fixed Deposit account can be opened at any of the branches of the bank. Allahabad Bank offers attractive interest rates on Fixed Deposits.
The revised Interest rates per annum for Regular & Senior Citizens with effect from 27 February 2018 are as follows:
| Tenure | Regular FD rate (p.a.) | Senior Citizen FD rate (p.a.) |
|---|---|---|
| 7 days – 29 days | 4.00% | 4.00% |
| 30 days – 45 days | 4.50% | 4.50% |
| 46 days – 60 days | 5.50% | 5.50% |
| 61 days – 179 days | 6.00% | 6.00% |
| 180 days – 269 days | 6.25% | 6.25% |
| 270 days – <1 year | 6.50% | 6.50% |
| 1 years – <2 years | 6.60% | 6.60% |
| 3 years – 10 years | 6.50% | 6.50% |
*The interest rates mentioned above are only for deposits less than Rs. 1 crore.
Allahabad Bank short-term Fixed Deposits rates
Allahabad Bank FD Rates
- The short-term Fixed Deposit account offered by Allahabad Bank can be availed ranging from 7 days to a year.
- If the account holder decides to fund his or her money in the Allahabad Bank Fixed Deposit account for a period of 270 days to less than a year, the interest rate earned on the deposit is 6.50%, which is the highest for a short-term fixed deposit account.
- For a short term Fixed Deposit account, as the period of the term increases, the rate of return on the deposit also increases.
- The short-term Fixed Deposit account is suitable for people who want a high return on their deposited funds in a short amount of time.
- For a term period ranging from 7 days to 29 days, the rate of interest is 4.00%. It is 4.50% for a period of 30 days to 45 days and 5.50% for a term period of 45 days to 60 days.
- The return on the amount deposited in the bank for a term period of 91 days to 179 days is 6.00%.
Allahabad Bank medium-term Fixed Deposit rates
- The term period for which you can open a medium-term Fixed Deposit account is 1 to 5 years.
- The interest rate offered by Allahabad Bank for a period of more than a year to less than 2 years is 6.60%.
- The interest rate on the deposited funds decreases down to 6.50% for a term period of more than 2 years and less than 3 years for both the regular and senior citizens.
- The rate of return offered by Allahabad Bank on a term period of 3 to 5 years is 6.50%.
Allahabad Bank long-term Fixed Deposit rates
- The term period for which you can open a long-term Fixed Deposit account should be at least more than 5 years.
- The maximum term period for which you can deposit money in a Allahabad Bank fixed deposit account is 10 years after which you have to renew the account.
- The interest rate offered by Allahabad bank for a long-term Fixed Deposit account is 6.50% which is the same for any term period falling in that category.