Allahabad Bank provides its customers with regular and flexi-fixed FDs. The interest rates offered by these FDs are very lucrative. One can open an FD for different time periods and at different rates of interest. These rates can vary as per the internal liquidity needs and changes in market.
Residents of India, NRIs and senior citizens are eligible to have an FD in the bank.
A customer can deposit amount up to one crore rupees if the deposit is domestic term deposit.
In case the deposit is single-term for one crore rupees, the branch have to take permission from the zonal office. Under the flexi fixed FD, the customer has to deposit twenty-five thousand rupees initially as an FD or double deposit for 1 year tenure.
The tenure for normal FDs:
Minimum - one week
Maximum - ten years
The rates of interest vary according to the amount deposited and the duration of the FD. For below one crore rupees, the rates can be from 5% to 8.50% for FDs taken for short duration from one week to one year and for the FDs ranging from one year to ten years, the rate is 8.75%.
The rates of interest can be changed by the bank. One should be updated about the rates before applying or at the time of renewal of any existing FD.
Subscribe to our newsletter
Akshar Blue Chip IT Park, 703, Thane - Belapur Rd, Turbhe, Navi Mumbai, Maharashtra 400705