Allahabad Bank Fixed Deposit Rates 2021

Allahabad Bank offers fixed deposits with attractive interest rates ranging from 2.90% p.a. to 5.25% p.a. for tenures ranging from 7 days to more than 5 years. Senior citizens are offered 0.50% additional interest rate per annum on deposits of up to Rs.10 crore. Non-Resident Indians can also open a fixed deposit with the bank with competitive interest rates.

Allahabad Bank Short-term Fixed Deposit Rates

  • Maximum rate of interest: 4.40% p.a.
  • Available rates of interest: 2.90% p.a. to 4.40% p.a.
  • Range of maturities: 7 days to 1 year

Allahabad Bank Medium-term FD Interest Rates

  • Highest rate of interest: 5.25% p.a.
  • Range of interest rates: 5.00% p.a. to 5.25% p.a.
  • Range of tenure: 1 year to 5 years

Allahabad Bank Long-term Deposit Rates

  • Highest rate of interest: 5.15% p.a.
  • Tenure period: above 5 years to 10 years

Allahabad Bank FD rates: Below Rs. 2 crore

The interest rates for deposits below Rs.2 crore are as given below:

Tenure Interest Rates (p.a.)
7 - 45 days 2.90%
46 - 90 days 3.25%
91 - 180 days 3.95%
181 days – less than 1 year 4.40%
1 year 5.00%
Above 1 year to less than 3 years 5.10%
3 years to 5 years 5.25%
Above 5 years 5.15%

The revised rates would be effective from 10 July, 2021

Allahabad Bank Bulk Term FD rates: Rs.2 crore to Rs.5 crore

The interest rates for the bulk term deposits are as given below:

Tenure Interest Rates (p.a.)
7 - 45 days 2.90%
46 - 90 days 2.90%
91 - 180 days 2.90%
181 days – less than 1 year 3.25%
1 year 3.55%
Above 1 year to less than 3 years 3.25%
3 years to 5 years 3.25%
Above 5 years 3.25%

The revised rates would be effective from 10 July, 2021

Allahabad Bank Tax Saving FD Rates

The interest rates for the Tax Saving FD are as given below:

Tenure Interest Rates (p.a.)
5 years 5.25%

Allahabad Bank NRI Fixed Deposit Rates 2021

Allahabad Bank NRE FD Rates

The NRE FD rates are:

Tenure Interest Rates Less than Rs.2 crore (p.a.) Interest Rates Rs.2 crore to Rs.5 crore (p.a.)
1 year 5.00% 3.55%
Above 1 year and less than 2 years 5.10% 3.25%
2 years to less than 3 years 5.10% 3.25%
3 years to less than 5 years 5.25% 3.25%
5 years 5.25% 3.25%
Above 5 years 5.15% 3.25%

These interest rates are effective from 10 July 2021

Allahabad Bank FCNR (B) Interest Rates

The FCNR (B) interest rates are as given below:

1 to 2 years 2 to 3 years 3 to 4 years 4 to 5 years 5 years
USD 0.85 0.89 1.07 1.29 1.45
(0.81) (0.79) (0.95) (1.17) (1.58)
GBP 0.59 0.79 0.92 1.03 1.11
(0.55) (0.74) (0.85) (1.00) (1.10)
EUR 0.01 0.05 0.12 0.19 0.26
(0.00) (0.04) (0.11) (0.18) (0.26)
JPY 0.00 0.00 0.01 0.00 0.00
(0.00) (0.00) (0.00) (0.01) (0.02)
CAD 0.63 0.89 1.14 1.36 1.51
(0.64) (0.75) (1.03) (1.27) (1.45)
AUD 0.28 0.44 0.65 0.88 1.09
(0.27) (0.36) (0.55) (0.83) (1.07)
CHF 0.00 0.00 0.00 0.04 0.14
(0.00) (0.00) (0.00) (0.03) (0.11)
SGD 0.56 0.76 1.02 1.22 1.33
(0.57) (0.66) (0.85) (1.06) (1.22)

*The rates given here are valid as of 10 July 2021

Features & Benefits of Allahabad Bank Fixed Deposits

The features and benefits of the Allahabad bank fixed deposits are as given below:

  • Interest application is on a monthly or quarterly basis with a discount
  • There is no maximum limit on the amount of money that can be deposited
  • The minimum amount required to open an FD is Rs.1,000
  • Automatic renewal facility is available

Types of Allahabad Bank Fixed Deposit Schemes

The following FD schemes are available with Allahabad Bank:

Allahabad Bank Loan Against FD

Allahabad Bank offers loan against FD facility.

Nomination Facility on Allahabad Bank FD

Allahabad Bank offers nomination facility on FDs.

FAQs on Allahabad Bank Fixed Deposit Rates

  1. What is the highest and lowest rate of interest on FD schemes by the Allahabad bank?

    For deposits below Rs.2 crore for the general public, the lowest rate of interest for Allahabad Bank FD is 2.90% p.a. while the highest rate of interest is 5.25% p.a.

  2. What is the minimum deposit amount for Allahabad Bank FD?

    The minimum deposit amount to open an FD with Allahabad Bank is Rs.1,000.

  3. What is the special rate of interest for senior citizens in Allahabad Bank FD?

    Senior citizens are offered 0.50% additional rate of interest for amounts of up to Rs.10 crore. For tenures ranging from 5 years up to 10 years, an additional 0.25% interest over and above the 0.50% additional rate is also offered to senior citizens. For super senior citizens, an additional 0.25% interest rate is offered over and above the additional rate offered to senior citizens.

  4. Who can open FD account with Allahabad Bank?

    An Allahabad Bank FD can be opened by Resident Indians and non-Resident Indians.

  5. How much time it takes for the FD investment amount to double?

    In an FD, the tenure, investment amount, and rate of interest are fixed at the time of opening the account. To find out how long it will take for your FD to double, all you have to do is divide the number 72 by the annual rate of interest contracted on your FD tenure. The answer to this is the number of years it will take for your FD to double.

  6. Can you alter the tenure of an existing FD account?

    Once an FD account is opened, the tenure cannot be changed.

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