Allahabad Bank reduces interest rates on deposits
Effective from 16.07.2007, Allahabad Bank has
reduced the interest rates on domestic term deposits in some time
buckets. The reduction will be applicable on all types of term
deposits including Recurring Deposit and Capital Gains Accounts
Scheme, 1988.
The reduction in the interest rates will be in
the time buckets of 46 days to 60 days from 5.50% per annum to 5%
per annum , 91 days to 180 days from 6.50% per annum to 6% per annum
and 1 year to less than 2 years from 9.50% per annum to 9% per
annum. Interest in other time buckets will, however, remain
unchanged.
Thus, the highest interest rates of 9.50% per
annum for term deposit in the time bucket of 1 year to less than 2
years will be reduced by 50 basis points to 9% per annum.
The revised rates will be applicable for fresh
and renewal of deposits.
The additional interest rates over and above
the card rates for domestic term deposits for Senior Citizens remain
unchanged as under:
Publicity Department
14th July, 2007
Press Corner
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