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Allahabad Bank FD Interest Rates 2020-2021

About Allahabad Bank

The current market scenario is very volatile. This is why if you are looking to get into an investment, then a good decision will be to open up a fixed deposit account. In a fixed deposit scheme, an individual would park his or her money for a predefined period of time. During this time, the depositor will earn an interest amount.

At the end of the deposit period, the principal amount and interest will be paid to the depositor. And one of the best banks to invest in a fixed deposit scheme is the Allahabad Bank. You can also learn about the Repco Bank FD rates for comparison.

Allahabad Bank provides amazing returns on maturity to its customers. As the name indicates, this bank was founded in Allahabad on 24 April 1865. Currently, the head office of the bank is in Kolkata. This shift took place in 1923. The bank was further nationalized on 19 July 1969.

Features of Allahabad Bank FD

If you compare Repco Bank FD rates and Allahabad Bank fixed deposit rates, you will see a lot of differences. This is because Allahabad Bank puts its customers at the center of everything. Because of this reason, the bank also provides its customers with several features. Some of these features are:

  • Interest is applicable on a monthly and quarterly basis. This is available at a discount
  • There is no maximum limit on the amount of money that one can deposit in the FD
  • The minimum amount of money required to open the FD scheme is INR 1,000
  • An automatic renewal facility is available for all investors

 

Allahabad Bank FD Interest Rates 2020 and 2021

The Allahabad Bank FD interest rates 2020 and 2021 are given below.

Tenure Allahabad Bank FD Interest Rates 2020 and 2021
7 days to 14 days 5.00%
15 days to 29 days 5.00%
30 days to 45 days 5.25%
46 days to 60 days 5.50%
61 days to 90 days 6.00%
91 days to 179 days 6.25%
180 days to 269 days 6.50%
270 days to less than 1 year 6.50%
1 year to less than 2 years 6.75%
2 years to less than 3 years 6.60%
3 years to less than 5 years 6.50%
5 years to 10 years 6.50%

The Allahabad Bank FD interest rates 2020 and 2021 for deposits of INR 2 crore and above are given below.

Maturity Period Interest Rates Per Annum for INR 2 Crore to Less than INR 5 Crore Interest Rates Per Annum for INR 5 Crore to Less than INR 10 Crore Interest Rates Per Annum for INR 10 Crore to Less than INR 50 Crore Interest Rates Per Annum for INR 50 Crore and Above
7 days to 14 days 4.45% 4.45% 4.45% 4.45%
15 days to 29 days 4.45% 4.45% 4.45% 4.45%
30 days to 45 days 4.70% 4.70% 4.70% 4.70%
46 days to 60 days 5.45% 5.45% 5.45% 5.45%
61 days to 91 days 5.75% 5.75% 5.75% 5.75%
92 days to 120 days 6.00% 4.00% 4.00% 4.00%
121 days to 179 days 6.00% 4.00% 4.00% 4.00%
180 days to 269 days 6.00% 4.00% 4.00% 4.00%
270 days to less than 1 year 6.00% 4.00% 4.00% 4.00%
1 year 6.00% 4.00% 4.00% 4.00%
More than 1 year to less than 2 years 5.75% 4.00% 4.00% 4.00%
2 years to less than 3 years 4.00% 4.00% 4.00% 4.00%
3 years to less than 5 years 4.00% 4.00% 4.00% 4.00%
5 years to 10 years 4.00% 4.00% 4.00% 4.00%

The Allahabad Bank FD interest rates 2020 and 2021 for savings bank deposits are mentioned in the table given below.

Savings Bank Deposit Existing Interest Rates Revised Interest Rates
Balance of less than INR 40 lakh 4.00% 4.00%
Balance of INR 40 lakh and above 4.00% 4.00%

The Allahabad Bank FD interest rates 2020 and 2021 for non-resident rupee term deposit accounts are given below.

Tenure Interest Rate
1 year to less than 2 years 6.75%
2 years to less than 3 years 6.60%
3 years to less than 5 years 6.50%
5 years and above to 10 years 6.50%

The interest rates for non-resident rupee savings deposit accounts are given below. You should also learn about the Repco Bank FD rates.

Savings Bank Deposits Interest Rates Per Annum Revised Rates Per Annum
Balance of Less than INR 40 Lakh 4.00% 3.50%
Balance of INR 40 Lakh and Above 4.00% 4.00%

Benefits of Allahabad Bank FD Interest Rates 2020 and 2021

When it comes to providing customers with amazing benefits, Allahabad Bank is in the front of that race. You can be sure of this fact if you compare the features provided by Allahabad Bank with Repco Bank FD rates.

You might also want to know about the features provided by Allahabad Bank. These features are:

  • Interest earned amount can be received on a monthly or quarterly basis
  • No maximum limit on the amount of money that can be deposited
  • Highly competitive interest rates
  • Automatic renewal for all customers

 

Types of Allahabad Bank FD Interest Rates 2020 and 2021

Just like Repco Bank FD rates, there are different types of FD rates for various FD schemes launched by Allahabad Bank. Do you want to know what these FD schemes are? If yes, then go through the list prepared by us.

  • Allahabad Bank short-term fixed deposit
  • Allahabad Bank medium-term FD interest rates
  • Allahabad Bank long-term deposit rates

 

If you want to learn about Repco Bank FD rates, then you can visit the official website of the bank. 

Eligibility of Allahabad Bank FD

The eligibility criteria for Allahabad Bank FD are mentioned below.

  • Individuals
  • Limited companies
  • Minors under the guardianship of natural guardians or guardians appointed by the court of law
  • Joint names of two or more individuals
  • Partnership or proprietary concerns
  • Clubs
  • Association
  • Societies
  • Trusts

 

How to Calculate Allahabad Bank FD Interest Rates 2020 and 2021

Whether you want to calculate the interest rates of Allahabad Bank or the Repco Bank FD rates, the task is very easy to perform if you have the right tools. You can calculate the interest rates and the interest earned amount by using the Allahabad Bank FD interest calculator.

It is very easy to use the calculator. All you need to do is simply enter all the required details and click on calculate. After that, you will get the calculated amount in a matter of a few seconds!

Factors Affecting Allahabad Bank FD Interest Rates 2020 and 2021

FD interest rates often fluctuate. And this is mainly due to the fact that there are several factors that are constantly affecting the interest value. It is important for you to learn about what these factors are.

  • Tenure of the FD scheme
  • The total amount of money invested in an FD
  • Whether or not one has opted for renewals
  • Age of the investor
  • Current economic conditions of the country
  • Monetary and fiscal policy of the country

 

FAQs:

What is the highest and lowest rate of interest for FD schemes provided by the Allahabad Bank?

As of now, the lowest rate of interest for Allahabad Bank FD is 2.90% and the highest rate of interest is 5.25%. It should be noted that this rate can change without any previous or official notice from the bank.

What is the minimum deposit amount required for opening an FD at Allahabad Bank?

The minimum deposit amount for opening an FD with Allahabad Bank is INR 1,000.

Is there a special rate of interest for FD schemes for senior citizens at Allahabad Bank?

Yes, Allahabad Bank provides a special rate of interest for senior citizens. You can learn more about this special rate on the official bank website.

4. Can I open an FD account with Allahabad Bank?

If you are a resident Indian or non-resident Indian, then you can open an FD account with Allahabad Bank.

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