Allahabad Bank Fixed Deposit Rates
Rates of interest always fluctuate according to the market and the economy. However, Allahabad Bank is known to give quite high FD interest rates. These fixed deposit rates have to conform to the guidelines of the Reserve Bank of India.
Other than that, Allahabad Bank Fixed Deposit rates are quite profitable. At any given point in time, you can know the FD rates of Allahabad Bank by a simple inquiry into the nearest branch or by looking up the online website of the bank.
It is advisable to reconfirm the FD Rates from the bank before making any decision based on the data provided below.
Allahabad Bank FD Rates on Domestic/NRE/Capital Gains Type B/Tax Saver Fixed Deposits of less than Rs 2 crore w.e.f. 19 December 2022
| Period | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 2.80 | 2.80 |
| 15 days to 29 days | 2.80 | 3.30 |
| 30 days to 45 days | 3.00 | 3.50 |
| 46 days to 90 days | 3.25 | 3.75 |
| 91 days to 120 days | 3.50 | 4.00 |
| 121 days to 180 days | 3.85 | 4.35 |
| 181 days to less than 9 months | 4.50 | 5.00 |
| 9 months to less than 1 year | 4.75 | 5.25 |
| 1 year | 6.10 | 6.60 |
| Above 1 year to less than 2 years | 6.30 | 6.80 |
| 2 years to less than 3 years | 6.50 | 7.00 |
| 3 years to less than 5 years | 6.25 | 6.75 |
| 5 years | 6.25 | 6.75 |
| Above 5 years | 6.10 | 6.60 |
Special Fixed Deposit Interest Rate w.e.f. 19 December 2022
| Tenure | Interest Rates (% p.a.) |
| Regular Citizens | |
| IND SHAKTI 555 days | 7.00 |
Allahabad Bank Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) |
| Regular Citizens | |
| 5 years | 6.25 |
| Above 5 years to 10 years | 6.10 |
Tax Implications
The amount invested in a Fixed Deposit with a tenure of 5 years with Allahabad Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
The applicable tax will be deducted at the source, i.e., Allahabad Bank, in case the annual interest earned crosses Rs.10,000.
For NRE Fixed Deposit - of Rs 2 crore to less than Rs 5 crore
Period Interest Rates (% p.a.) Regular Citizens Senior Citizens 7 days to 14 days 2.90 3.40 15 days to 29 days 2.90 3.40 30 days to 45 days 2.90 3.40 46 days to 90 days 3.10 3.60 91 days to 120 days 3.10 3.60 121 days to 180 days 3.60 4.10 181 days to less than 9 months 4.50 5.00 9 months to less than 1 year 6.25 6.75 1 year 6.70 7.20 Above 1 year to less than 2 years 6.65 7.15 2 years to less than 3 years 6.10 6.60 3 years to less than 5 years 6.00 6.50 5 years 6.00 6.50 Above 5 years 6.00 6.50 Note: The above-mentioned FD rates are applicable W.E.F. 31st October 2022
Interest Rates of FCNR (B) and RFC Deposits w.e.f. 1 January 2023
Currency Interest Rates (% p.a.) 1 year to less than 2 years 2 years to less than 3 years 3 years to less than 4 years 4 years to less than 5 years 5 years USD 5.00 3.95 3.60 3.60 3.60 GBP 2.00 2.20 2.25 2.25 2.25 EUR 0.02 0.01 0.01 0.10 0.15 JPY 0.11 0.13 0.12 0.13 0.14 CAD 1.81 2.36 2.60 2.66 2.67 AUD 1.20 1.70 2.05 2.30 2.45 CHF 0.00 0.01 0.02 0.03 0.05 SGD 0.27 0.40 0.49 0.55 0.61 Note: The above-mentioned FD rates are applicable W.E.F. 1st January 2023.