Allahabad Bank revises rates on term deposits

Allahabad Bank has revised interest rates on domestic term deposits below Rs 5 crore of varying maturities effective November 15.

While the bank has raised the rates of interest in the range of 25-150 basis points on deposits in varying time buckets; it has reduced rate of interest on deposit of one-to-less than two years by 10 basis points to 9.15 per cent.

The bank has also enhanced the maximum amount of deposit that can be accepted under AllBank Liquid Term Deposit Scheme to Rs 100 crore (Rs 50 crore), said a press statement issued by the bank.