Allahabad Bank Fixed Deposit - FD Interest Rates 2023, Calculator

Allahabad Bank Fixed Deposit

About Allahabad Bank Fixed Deposit

Allahabad Bank, the oldest joint stock bank in India serves its customers with the facility of the fixed deposit. The bank pays the highest interest of 7.35% p.a. on the deposit made. The maturity amount of the deposit is credited to the holder’s account. The bank proffers various schemes under which the customer can invest and they are as follows:

  • Allahabad Bank Flexi-Fix Deposit Scheme
  • Allahabad Bank Tax Benefit Term Deposit Scheme
  • Allahabad Bank Current Plus Deposit Scheme
  • Allahabad Bank Double Deposit Plan

FD @ 8.00%* Rate

Allahabad Bank FD Interest Rates March 2023

TenureRate of Interest ( % per annum)
(On deposit less than ₹2 crore)
7 - 14 days4.95
15 - 29 days4.95
30 - 45 days5.20
46 - 60 days5.45
61 - 90 days5.95
91 - 179 days6.20
180 - 269 days6.25
270 days to less than 1 years6.25
1 years to less than 2 years 6.45
2 years to less than 3 years6.35
3 years to 5 years6.25
5 years to 10 years6.25

Allahabad Bank Fixed Deposit Schemes

Allahabad Bank Flexi-Fix Deposit Scheme

This scheme ensures maximum return without affecting the liquidity. The minimum deposit of ₹25,000 is mandatory to start the fixed deposit. The passbook is issued to the customer and all the records regarding withdrawal, interest credit/debit is maintained.

Minimum Investment Amount₹25,000
Additional Investment Amount In multiples of ₹5,000
Passbook Facility Available
Partial Withdrawal In units of ₹5,000
Loan/Overdraft Facility Not available

Eligibility: All Indian residents can avail the facility of Flexi-Fix Deposit Scheme.

Allahabad Bank Tax Benefit Term Deposit Scheme

This scheme offers tax benefits under Section 80C of Income Tax Act to the Income Tax assesses. The interest is paid at the rate of 7%p.a and no additional interest is paid to senior citizens.

Minimum Tenure ₹1,00,000 per year
Nomination Facility 5 years
Premature Withdrawal Available
Loan/Overdraft Facility Not allowed
Loan/Overdraft Facility Not allowed

Eligibility: Any Individual singly or jointly and Karta of Hindu Undivided Family [HUF] can invest under the Tax Benefit Term Deposit Scheme.

Allahabad Bank Current Plus Deposit Scheme

The customer investing under this scheme, simultaneously, enjoys the benefit of both Current Account as well as Fixed Deposit Account. The balance of ₹1,00,000 is to be maintained in the current account and the amount exceeding ₹1,00,000 will be transferred to the fixed deposit account for a period of 15 days in multiples of ₹10,000. The interest accrued on the fixed deposit will be credited to the current account.

Minimum Amount₹1,00,000
Rate of Interest As applicable on tenure of 15 days
Premature Withdrawal Allowed

Eligibility: Anyone who is eligible to open Current Deposit Account is eligible to open Current Plus account either singly or jointly with the minimum balance of ₹1,00,000.

Allahabad Bank Double Deposit Plan

It is an amalgamation of fixed deposit and recurring deposit. The minimum investment amount is ₹1,000 and additional investment can be made in multiples of ₹1,000. The interest is quarterly compounded.

Minimum Amount₹1,000
Additional Investment Amount In multiples of ₹1,000
Maximum Tenure 120 months
Loan/Overdraft FacilityAvailable


Individual – Single Accounts, Two or more individuals – Joint Accounts, Sole Proprietary Concerns, Partnership Firms, Limited Liability Companies, Association, Clubs, Societies, Trusts, etc., Minors, Blind Persons, Illiterate Persons, Joint Hindu Families, Municipalities, Panchayats, Govt. & Quasi Government Bodies, Religious, Educational, Charitable Institutions, etc. are eligible to invest in this scheme


An Individual, Hindu Undivided Family, Sole Proprietorship ConcernID Proof, Address Proof, A photograph
TrustsCopy of the Trust Deed, Copy of the registration certificate, Copy of the Resolution of The Trustees, Authorising the members concerned to open and operate the account, Photographs of the members operating the account
Associations / ClubsBy-laws of the Association, Copy of the Resolution by the board authorising the members concerned to open and operate the account, Photographs of the members operating the account
Partnership Firm Partnership Deed, Letter from partners approving the persons concerned to open and operate the account, Photographs of the persons operating the account
ID Proof Address Proof
PAN CardTelephone Bill
Driving LicenceElectricity Bill
Voter ID ID Card Issued by Post Office
Government ID Card Bank Statement with Cheque
Senior Citizen ID CardAny other ID proof or address proof document can be submitted subject to bank's satisfaction

Features And Benefits

  • Wide range of tenure
  • Multiple investment schemes
  • Premature withdrawal permitted
  • Interest paid at competitive rates

Allahabad Bank FD Calculator

You can calculate the amount of interest incurred on the amount deposited by you. The fixed deposit calculator helps you to know the maturity value of the policy taking into consideration the amount of deposit, tenure of the deposit and the rate of interest.

How to Apply

To avail the Fixed Deposit facility the customer has to visit the bank branch. The executive will guide regarding the procedure to be followed. The customer representative will help in filing the application for the fixed deposit and tell about the documents required.

Allahabad Bank FD Application Form

The application forms are available at all the branches of Allahabad Bank. To be the customer of the bank you need to fill the KYC form and provide the required documents.

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