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| Deposit Schemes
It has been decided by the Bank to revise interest rates on Domestic Term Deposits of below Rs.1.00 crore with effect from 23.11.2009 and Rs.1.00 crore & above with effect from 18.11.2009. 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. 23.11.09) |
For Rs. 1 cr to less than Rs. 10 cr
(w.e.f. 18.11.09) |
For Rs.10 cr & above
(w.e.f. 18.11.09) |
7 days
to
14 days |
NA |
1.50 |
1.50 |
NA |
1.50 |
1.50 |
15 days
to
29 days |
3.00 |
2.00 |
2.00 |
3.00 |
2.00 |
2.00 |
30 days
to
45 days |
3.00 |
2.25 |
2.25 |
3.00 |
2.25 |
2.25 |
46 days
to
60 days |
4.00 |
2.75 |
2.75 |
4.00 |
2.75 |
2.75 |
61 days
to
90 days |
4.00 |
2.75 |
2.75 |
4.00 |
2.75 |
2.75 |
91 days
to
179 days |
5.25 |
3.25 |
3.25 |
5.00 |
3.25 |
3.25 |
180 days to
269 days |
6.00 |
4.25 |
4.25 |
5.50 |
4.25 |
4.25 |
270 days to
364 days |
6.00 |
5.00 |
5.00 |
5.50 |
5.00 |
5.00 |
1 year
to
less than
2 years |
7.00 |
5.75 |
5.75 |
6.50 |
6.00 |
6.00 |
2 years
to
less than
3 years |
7.00 |
5.75 |
5.75 |
6.75 |
5.50 |
5.50 |
3 years
to
less than
5 years |
7.25 |
5.50 |
5.50 |
7.00 |
5.50 |
5.50 |
5 years and
upto
10 years |
7.50 |
5.50 |
5.50 |
7.25 |
5.50 |
5.50 |
The above rates will be applicable for fresh deposits and renewal of deposits and rates are subject to revision at any time.
The existing interest rate for AllBank Baalika Mangal Yojana Deposit Scheme will continue
till further instruction.
Existing additional interest rate for senior citizens will be continued.
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 01.02.2010
| Period |
Existing rate % p.a.
w.e.f 1st January,
2010 |
Revised Rate % p.a.
w.e.f 1st February,
2010 |
1 year to less than 2 years |
2.73 |
2.60 |
2 years to less than 3 years |
3.14 |
2.91 |
3 years only |
3.79 |
3.53 |
|
| |
|
Non-Resident (Ordinary) Rupee Term Deposits & Saving Bank A/c:
The Interest rates of NRO deposits is at par with the Interest Rates for Domestic Deposits.
Differential Rate of Interest/ Additional Rate for Senior Citizens:
No Differential Rate on interest as also Additional Interest for Senior Citizens is allowed for Non-Resident Deposits as advised vide our Instruction Circular Nos. 6942/Foreign/2001-202/03 & 8144/Foreign/2004-05/04 dt. 03.09.01 & 07.05.2004 respectively.
Foreign Currency Non-Resident (FCNR (B)) Account and Resident Foreign Curency
(RFC) accounts with effect from 01.02.2010
Fixed Deposit |
Existing Rate % p.a.
(w.e.f. 01.01.2010) |
Revised Rate % p.a.
(w.e.f. 01.02.2010) |
|
USD |
GBP |
EUR |
CAD |
AUD |
USD |
GBP |
EUR |
CAD |
AUD |
1 year to < 2 years |
1.98 |
2.25 |
2.22 |
2.25 |
6.24 |
1.85 |
2.26 |
2.20 |
2.26 |
6.21 |
2 years to < 3 years |
2.39 |
3.03 |
2.88 |
2.52 |
6.15 |
2.16 |
2.75 |
2.68 |
2.36 |
6.02 |
3 years to < 4 years |
3.04 |
3.68 |
3.30 |
3.09 |
6.43 |
2.78 |
3.36 |
3.08 |
2.90 |
6.28 |
4 years to < 5 years |
3.54 |
4.12 |
3.57 |
3.52 |
6.77 |
3.29 |
3.81 |
3.37 |
3.31 |
6.57 |
5 years only |
3.94 |
4.42 |
3.82 |
3.83 |
6.93 |
3.71 |
4.14 |
3.63 |
3.62 |
6.70 |
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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 :
-
- Single holder Type Deposits : Individual for himself or in the capacity
of the "Karta" of a Hindu Undivided Family.
- 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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