Allahabad Bank FD Rates

The merger of Allahabad Bank into the Indian Bank Scheme 2020 was initiated by the Government of India on 4th March 2020, with the approval of the Reserve Bank of India (RBI). This amalgamation scheme became operational on 1st April 2020.

As a result, customers, including fixed depositors of Allahabad Bank, were considered customers of Indian Bank starting from 1st April 2020. Consequently, individuals who held fixed deposit accounts in Allahabad Bank were transferred to Indian Bank.

Table of Contents:

• ⇾ Allahabad Bank FD Rates
• ⇾ Allahabad Bank Special Fixed Deposit Interest Rate
• ⇾ Allahabad FD Interest Rates for Bulk Term Deposits ( ₹3 Cr – ₹5 Cr)
• ⇾ Features of Allahabad Bank FD Rates
• ⇾ FD Interest Rates of Allahabad Bank vs Other Banks
• ⇾ Allahabad Bank vs. Public Sector Bank FDs
• ⇾ Private Sector Banks
• ⇾ Small Finance Banks
• ⇾ FD Calculator
• ⇾ Allahabad Bank FD Account Eligibility
• ⇾ Documents Required To Open Allahabad Bank of India FD
• ⇾ Tax Implications of Allahabad Bank FD
• ⇾ FAQs

Allahabad Bank FD Interest Rates

Allahabad Bank FD Rates on Domestic/NRE/Capital Gains Type B/Tax Saver Fixed Deposits of less than ₹3 crore.

Allahabad Bank Special Fixed Deposit Interest Rate

Allahabad Bank (Indian Bank) offers two new FD schemes with an opportunity to get higher returns.

Note:

• For the IND SUPER 400 days Scheme, the minimum deposit is ₹10,000 and the max is ₹ 3 Crores for 400 days in the form of FD/MMD with callable options (with premature withdrawal facility).
• For the IND SUPREME 300-Day Scheme, the minimum deposit is ₹5,000 and max is ₹ 3 Crores for 300 days in the form of FD/MMD with callable options (with premature withdrawal facility).

Allahabad FD Interest Rates for Bulk Term Deposits ( ₹3 Cr – ₹5 Cr)

Here are the interest rates for Allahabad FD for deposits from ₹3 Crores to ₹5 Crores

FD Calculator

A FD calculator helps you calculate the maturity amount for your Fixed Deposit (FD) investment.

Just enter the following:

• Principal Amount: The sum you deposit into the FD.
• Interest Rate: The rate provided by the Allahabad Bank.
• Tenure: The duration for which your FD will be held.
• Interest Payout Frequency: The frequency at which you wish to receive interest payments: monthly, quarterly, half-yearly, or at maturity.

Check more on FD Interest calculation for different amounts from the links provided below:

Features of Allahabad Bank FD Rates

The table below shows the overview of the Allahabad Bank FD Rates:

FD Interest Rates of Allahabad Bank vs Other Banks

The table below provides a clear comparison of FD interest rates on ₹1 Crore FDs:

Allahabad Bank FD vs. Public Sector Bank FD

Allahabad Bank FD vs. Private Sector Bank FD

Allahabad Bank FD vs. Small Finance Bank FD

Allahabad Bank vs. NBFC Fixed Deposits

Allahabad Bank FD Account Eligibility

The eligibility for FD in Indian Bank is as follows:

• An individual can open a single account or a joint account.
• Non-residential Indians can deposit in NRE and NRO accounts.
• Hindu Undivided Families (HUF) are eligible.
• Minors are eligible to invest with the help of their parents or guardians.
• Trusts, Public and Private Limited Organisations, Sole Proprietorships, and Partnerships are eligible to open an Indian Bank FD account.

Documents Required to Open Allahabad Bank FD

Minimal documents are required to open an FD account in the Indian Bank of India, these requirements are:

• Proof of identity:Voter ID, Passport, Aadhaar card, PAN card, Senior citizen ID, etc.
• Proof of address: Electricity bill, Telephone bill, Rental Agreement, etc
• Recent passport photographs

Check the best Fixed Deposit interest rates for different FD tenures from below:

Tax Implications of Allahabad Bank FD

The investment made in a Fixed Deposit for 5 years with Allahabad Bank qualifies for tax deduction under Section 80C of the Income Tax Act. However, the interest gained on the investment is subject to taxation.

If the annual interest earned exceeds ₹10,000, the applicable tax will be automatically deducted at the source by Allahabad Bank.

Check all bank FD rates from the table below:

Check out more on FD interest rates below: