Allahabad Bank Recurring Deposit Interest Rates
Allahabad Bank’s Short-Term Recurring Deposit Interest Rates
Allahabad offers recurring deposit schemes for a deposit term as short as 180 – 269 Days and 270 Days – Less than 1 Years . The interest rate applicable per annum for a recurring deposit which does not exceed Rs. 1 Crore for a period of 180 – 269 Days is 7.00% and for 270 Days – Less than 1 Years the applicable rate is 7.25%, for regular customers.
Allahabad Bank’s Medium and Long Term Recurring Deposit Interest Rates
Customers can also avail medium term and long term recurring deposit schemes that will offer higher rates of interest on the amount deposited. However, when you opt the maximum tenure for RD, the interest rate will drop since the amount paid out based on compounded interest – including the interest accrued as well as premium, will be much higher. For a medium deposit term ranging from one year to less than two years, the rate of interest applicable on RD is 7.25% and for a long deposit tenure of 5 years to 10 years the interest rate applicable is 7.00%.
Allahabad Bank’s Senior Citizen RD Rates
There is no differential interest rates for Senior Citizens on the regular interest paid-out Hence, for senior citizens who open an RD in Allahabad Bank, the interest rate offered per annum on a deposit which does not exceed Rs. 1 Crore for a period of 180 – 269 Days is 7.00% and for 270 Days – Less than 1 Years the applicable rate is 7.25%. For a medium deposit term ranging from one year to less than two years, the rate of interest applicable on RD is 7.25% and for a long deposit tenure of 5 years to 10 years the interest rate applicable is 7.00%.
| Tenure | Normal RD | Senior Citizen |
| 180 – 269 days | 6.25% | 6.25% |
| 270 days to less than 1 year | 6.50% | 6.50% |
| 1 year to less than 2 years | 6.75% | 6.75% |
| 2 years to less than 3 years | 6.75% | 6.75% |
| 3 years to less than 5 years | 6.50% | 6.50% |
| 5 years to 10 years | 6.50% | 6.50% |
Allahabad Bank’s Other RD Scheme Rates Details
Monthly Plus Scheme – The monthly Plus scheme offers only a long term deposit tenure and customers can either opt for a tenure of 5 years or a tenure of not more than 7 years. The applicable rate of interest for both available tenures is 7.25% for regular customers and 7.25% for senior citizens.
