Allahabad Bank Launches Special Term Deposit Scheme From Sept. 17–30

Allahabad Bank has launched a special domestic short term deposit scheme AllBank Liquid Term Deposit Scheme. The amount of deposit will be Rs 15 lakh to less than Rs 5 crore having maturity period ranging from 7 days to 179 days and will fetch interest at 7.60% pa.

There is no penalty on premature withdrawal, however no interest will be paid if deposit is withdrawn before 7 days. The scheme will come into effect from September 17 and will remain valid till September 30, 2012.