Allahabad Bank FD Rates

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Tenure	Interest Rates for Regular Deposit	Interest Rates for Senior Citizen
7 days to 14 days	4.00%	–
15 days to 29 days	4.00%	–
30 days to 45 days	4.50%	–
46 days to 60 days	5.50%	–
61 days to 90 days	6.00%	–
91 days to 179 days	6.00%	–
180 days to 269 days	6.25%	–
270 days to 364 days	6.50%	–
1 year to 1 year 11 months 29 days	6.60%	–
2 years to 2 years 11 months 29 days	6.50%	–
3 years to 4 years 11 months 29 days	6.50%	–
5 years to 10 years	6.50%	–

 

Allahabad Bank FD Interest Rates

What Is A Fixed Deposit?

A fixed deposit (FD) is a kind of bank account where you deposit a fixed amount of money at a regular interval for a specified time. The sole purpose of this kind of a bank account is the huge amount of interest rates they provide. You can collect the maturity amount at the end of the fixed time for which you deposit the money.

Allahabad Bank Fixed Deposit

Allahabad Bank offers fixed deposit accounts for its customers. Usually, these accounts are kept by businessmen and merchants who wish to earn higher interest rates. Allahabad Bank Fixed Deposit accounts are a good way of saving and making.

You can always apply for these fixed deposit accounts online or by going into your nearest branch.

Allahabad Bank Fixed Deposit Rates

Rates of interest always fluctuate according to the market and the economy. However, Allahabad Bank is known to give quite high rates of interest on fixed deposits. These fixed deposit rates obviously have to conform to the guidelines of the Reserve Bank if India.

Other than that Allahabad Bank Fixed Deposit rates are quite profitable. At any given point of time, you can know the FD rates of Allahabad Bank by a simple inquiry into the nearest branch, or by looking up the online website of the bank.

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Allahabad Bank Fixed Deposit Rate

It is advisable to reconfirm the FD Rates from the bank before making any decision on basis of data provided below.

For Domestic Deposits – Less than Rs. 1 crore (As on July 31, 2017)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
		General	Senior Citizen
7 days to 14 days	Less than Rs. 1 crore	4.00	N.A
15 days to 29 days	Less than Rs. 1 crore	4.00	N.A
30 days to 45 days	Less than Rs. 1 crore	4.50	N.A
46 days to 60 days	Less than Rs. 1 crore	5.50	N.A
61 days to 90 days	Less than Rs. 1 crore	6.00	N.A
91 days to 179 days	Less than Rs. 1 crore	6.00	N.A
180 days to 269 days	Less than Rs. 1 crore	6.25	N.A
270 days to less than 1 year	Less than Rs. 1 crore	6.50	N.A
1 year to less than 2 years	Less than Rs. 1 crore	6.60	N.A
2 years to less than 3 years	Less than Rs. 1 crore	6.50	N.A
3 years to less than 5 years	Less than Rs. 1 crore	6.50	N.A
5 years and upto 10 years	Less than Rs. 1 crore	6.50	N.A

 

Tax Saver Fixed Deposits (Max Deposit – 1 LPA)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
		General	Senior Citizen
Tax Benefit Term Deposit Scheme – 5 years	Less than Rs. 1 cr	6.5	N.A

 

Tax Implications

1. The amount invested in Fixed Deposit with a tenure of 5 years with Allahabad Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
2. The applicable tax will be deducted at source, i.e. Allahabad Bank, in case the annual interest earned crosses Rs. 10,000.

 

For NRO – Less than Rs. 1 crore (As on July 31, 2017)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
7 days to 14 days	Less than Rs. 1 crore	4.00
15 days to 29 days	Less than Rs. 1 crore	4.00
30 days to 45 days	Less than Rs. 1 crore	4.50
46 days to 60 days	Less than Rs. 1 crore	5.50
61 days to 90 days	Less than Rs. 1 crore	6.00
91 days to 179 days	Less than Rs. 1 crore	6.00
180 days to 269 days	Less than Rs. 1 crore	6.25
270 days to less than 1 year	Less than Rs. 1 crore	6.50
1 year to less than 2 years	Less than Rs. 1 crore	6.60
2 years to less than 3 years	Less than Rs. 1 crore	6.50
3 years to less than 5 years	Less than Rs. 1 crore	6.50
5 years and upto 10 years	Less than Rs. 1 crore	6.50

 

For NRE – Less than Rs. 1 crore (As on July 31, 2017)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
1 year to less than 2 years	Less than Rs. 1 crore	6.60
2 years to less than 3 years	Less than Rs. 1 crore	6.50
3 years to less than 5 years	Less than Rs. 1 crore	6.50
5 years and upto 10 years	Less than Rs. 1 crore	6.50