MUMBAI: Public sector lender Allahabad Bank has reduced its domestic retail term deposit rate by 0.15 per cent to 9 per cent.
“...the Bank has decided to revise the interest rate downward by 0.15 per cent per annum i.e. from existing 9.15 per cent to 9 per cent on domestic retail term deposits scheme with maturity period of one year to less than two years,” as per the statement issued by the bank.
The new rates would be applicable from December 18, 2012.
Earlier, Oriental Bank of Commerce and Bank of India had slashed term deposit rates for select maturities.