Rates on deposits less than 5 crore lowered by Allahabad bank

Allahabad Bank has reduced the interest rates on fixed deposit accounts amounting up to 5 crore and if it is being deposited for duration between one to two years.

Following the footsteps of Bank of India, another public sector bank which has reduced its interest rates by 0.25 per cent, Allahabad bank cuts rates by 25 basis points to 9.25%. Senior citizens will be provided benefit of 50 basis points on interest rates.

The new rates are effective on fresh deposits and those which are renewed.