Deposit Schemes
Bank has revised interest rates on domestic term deposits with
effect from 10.02.2008. The rates will also be applicable in all types of Term Deposits including Recurring
Deposit and Capital Gains Accounts Scheme, 1988.The interest rates are as under :-
Domestic
Term Deposit (Period of Deposit) |
Existing Interest
Rate (% p.a) |
Revised Interest
Rate w.e.f. 10.02.2008 (% p.a) |
7 days to 14 days
(For minimum deposit of Rs.1.00 lac) |
3.00 |
3.00 |
15 days to 29 days |
3.00 |
3.00 |
30 days to 45 days |
4.75 |
4.75 |
46 days to 60 days |
5.00 |
5.00 |
61 days to 90 days |
5.50 |
6.50 |
91 days to 180 days |
6.25 |
7.00 |
181 days to less than 1 year |
7.50 |
7.50 |
1 year to less than 550 days |
8.50 |
8.50 |
| 550 days to less than 2 years |
9.00 |
9.00 |
2 years to less than 3 years |
9.00 |
8.75 |
| 3 years to less than 5 years |
9.00 |
8.75 |
5 years and less than
7 years |
9.00 |
8.75 |
7 years and upto
10 years |
9.00 |
8.75 |
Additional interest rates over and above the card rate for domestic term deposits for Senior
Citizens remain unchanged, which are as under:
- 1.00% for the deposit period of 15 days to less than 1 year
- 0.50% for the deposit period of 1 year upto 10 years
The aforesaid rates will be applicable for fresh deposits and renewal of maturity
deposits and rates are subject to revision at any time.
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. w. e. f 18.11.2005 |
3.50 |
|
Non Resident (External) Rupee Term Deposit Account (NRE)
With effect from 01.05.2008
|
| Period |
Rate % p.a |
1 year to less than 2 years |
3.08 |
2 years to less than 3 years |
3.18 |
3 years only |
3.45 |
|
| Foreign Currency Non-Resident (FCNR (B)) Account and Resident Foreign
Currency( RFC) accounts with effect from 01.05.2008 |
Fixed Deposit |
Existing Rate
% p.a.
(w.e.f. 01.04.2008) |
Revised
Rate % p.a.
(w.e.f. 01.05.2008) |
| |
USD |
GBP |
EUR |
CAD |
AUD |
USD |
GBP |
EUR |
CAD |
AUD |
| 1 year to < 2 years |
1.74 |
5.09 |
3.98 |
2.80 |
7.33 |
2.33 |
5.06 |
4.21 |
2.91 |
7.51 |
| 2 years to < 3 years |
1.75 |
4.39 |
3.50 |
2.45 |
6.59 |
2.43 |
4.65 |
3.78 |
2.64 |
6.91 |
| 3 years to < 4 years |
2.06 |
4.33 |
3.43 |
2.66 |
6.51 |
2.70 |
4.62 |
3.68 |
2.79 |
6.82 |
| 4 years to < 5 years |
2.36 |
4.30 |
3.42 |
2.81 |
6.57 |
2.93 |
4.59 |
3.65 |
2.91 |
6.86 |
| 5 years only |
2.65 |
4.28 |
3.43 |
2.94 |
6.55 |
3.11 |
4.54 |
3.64 |
3.03 |
6.78 |
|
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
119 Park Street, Calcutta 700016.
Email: albfd@giascl01.vsnl.net.in
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 : @ 9% p.a., subject to revision from time to time.
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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