Allahabad bank increases interest rates on deposit

Allahabad Bank, one of the leading nationalized banks, has announced further increase in the card rates of term deposits with effect from 2nd April 2007. The increase announced by the Bank covers term deposits in all time buckets starting from 7 days and up to 10 years

The maximum interest rate announced by the Bank is 9.50% per annum in the time bucket of 1 year to less than 2 years (previous rate 8.25%).

The Bank has announced additional interest rates over and above the card rates for domestic term deposits for senior citizens

• 1% per annum for deposit period of 15 days to less than 1 year

• 0.5% per annum for deposit period of 1 year up to 10 years.

As such, the Senior Citizens now can earn an interest income up to 10% pa on their term deposits in specified time buckets.

Publicity Department,
Head Office,
2^nd April, 2007

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