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Sunday, September 16, 2012

Allahabad Bank unveils Liquid Term Deposit Scheme

Allahabad Bank has launched a special short term deposit scheme - AllBank Liquid Term Deposit Scheme, effective September 17.

Under this scheme, deposits ranging between Rs 15 lakh and Rs five crore will earn an interest rate of 7.60 per cent per annum, said a press statement.

The tenure of deposit will be 7-179 days. Though no penalty will be charged on premature withdrawal, however, no interest will be payable if deposit is withdrawn before seven days. The scheme would remain valid till September 30.


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