Deposit Schemes It has been decided by the Bank to revise the interest rate structure for Domestic Term Deposits both for below Rs.1.00 crore w.e.f 02.08.10 and Rs.1.00 crore and above with effect from 29.07.10. The revised interest rates are as under :- Tenor Existing Interest Rate p.a. (%) Revised Interest Rate p.a. (%)   For below  Rs. 1 cr For Rs. 1 cr to less than Rs. 10 cr For Rs. 10 cr & above For below Rs. 1 cr (w.e.f. 02.08.2010)   For Rs. 1 cr to less than Rs. 10 cr (w.e.f. 29.07.2010) For Rs. 10 cr & above (w.e.f. 29.07.2010) 7 days to 14 days 2.50 2.50 2.50 2.50 2.50 2.50 15 days to 29 days 2.75 2.75 2.75 2.75 2.75 2.75 30 days to 45 days 3.00 3.00 3.00 3.00 3.00 3.00 46 days to 60 days 4.00 4.00 4.00 4.00 4.00 4.00 61 days to 90 days 4.00 4.00 4.00 4.00 4.00 4.00 91 days to 179 days 5.00 4.50 4.50 5.50 5.75 5.75 180 days to 269 days 5.50 5.50 5.50 5.50 6.25 6.25 270 days to 364 days 5.50 5.50 5.50 6.00 6.50 6.50 1 year to less than 2 years 6.50 6.00 6.00 6.75 7.00 7.00 2 years to less than 3 years 6.75 6.00 6.00 6.75 6.00 6.00 3 years to less than 5 years 7.00 6.00 6.00 7.00 6.00 6.00 5 years and upto 10 years 7.25 6.00 6.00 7.25 6.00 6.00 The above rates will be applicable for fresh deposits and renewal of deposits and are subject to revision at any time. The interest rate for the revised AllBank  Baalika  Mangal Yojana Deposit Scheme will be 8.56574  % p.a with quarterly rests. The rate of interest on Allahabad   Bank   Tax    Benefit   Term   Deposit Scheme will be @ 7.25% p.a.. w.e.f. 23.11.2009 for fresh deposits. Existing additional interest rate for senior citizens will be continued. The branches/Zonal Offices should obtain prior permission from General Manager (IRM),Head Office before accepting term deposits of Rs.5 crore and above. Branches/ Offices are advised to take a note of the above and be guided accordingly. PENAL RATE OF INTEREST FOR PREMATURE WITHDRAWAL OF DOMESTIC TERM DEPOSITS Period of Deposit Amount of Deposit Penal Rate of Interest 1. Premature closure of term deposits for reinvestment in our bank Any amount No penal rate to be charged 2. 15 days and upto 1 (one) year* Any amount No penal rate to be charged 3. All others All others 1 % penal interest to be charged *The period of Deposit agreed upon at the time of making the deposit. Non Resident (External) Rupee Savings Deposit Account (NRE-SB)  Interest Rate % p.a. (unchanged since 18.11.2005) 3.50 Non Resident (External) Rupee Term Deposit Account (NRE) With effect from 01.09.2010    Period Existing rate % p.a. w.e.f 1st August, 2010 Revised Rate % p.a. w.e.f 1st September, 2010 1 year to less than 2 years 2.79 2.59 2 years to less than 3 years 2.49 2.42 3 years only 2.82 2.70

The above rates are applicable to fresh deposits and for renewal of deposits only.

These rates are subject to change without notice and the depositors will be advised of the current rates on the date of deposit. The depositors may contact:

FOREIGN DEPARTMENT HEAD OFFICE

14, India Exchange Place,2nd Floor,
Kolkata-700 001.
Telephone:(033)22316703,6704,6706
FAX:(033)2231-702.
E- MAIL ID : hofd.allbank@gmail.com

Allahabad Bank Tax Benefit Term Deposit Scheme

"Allahabad Bank Tax Benefit Term Deposit Scheme" offering the benefit under Sec.80C of Income Tax Act for the depositors (Income Tax assesses).

Investment : Any amount not exceeding Rupees one lakh in a year commencing on the 1st day of April of respective years. The amount to be deposited shall be a minimum of Rupees one hundred or multiples thereof.

Types of the Deposit : Can be opened in the following types, namely : -

1. Single holder Type Deposits : Individual for himself or in the capacity of the "Karta" of a Hindu Undivided Family.
2. Joint holder type deposits : Jointly in the name of two or more persons payable to either of the holders or to the survivor. Deduction from income under section 80C of Income Tax Act shall be available only to the first holder of the deposit.

Tenure of Deposit : Five years.

Encashment option : Premature encashment is not permissible.

Rate of interest : The rate of interest on Allahabad Bank Tax Benefit Term Deposit Scheme will be @ 7.25% p.a.. w.e.f. 23.11.2009 for fresh deposits only. No additional rate of interest for Senior Citizens and Staff of the Bank.

TDS on interest : Interest is liable to tax under section 194A or section 195 of Income Tax Act, on the basis of annual accrual or receipt, depending upon the method of accounting followed by the assessee.

Pledging of the Deposit : Can not be pledged to secure loan or as security to any other asset.

Nomination : Available.

Transfer from one branch to another : The deposit may be transferred from the issuing branch to another branch but not transferable from one bank to another bank.

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