AllBank RD Plus

AllBank RD Plus has been introduced by the Bank with attractive feature of flexibility in installment amount.

  • Area of operation: The product is available at all CBS branches.

  • Tenure of Deposit: Account can be opened for a minimum period of 2 years and maximum up to 7 years.

    • Product Option:
    • Option 1: Become a Millionaire* in 7 years by depositing Rs. 9400/- per month (considering regular installments are paid till maturity at present interest rate of 6.5% for 7 years and above). In case regular installments are not paid, customer will get actual interest accrued
    • Option 2: Option of Conversion to FD/DDP after 1 year, if unable to continue.
  • Encashment option: Premature closure is permitted as in case of other Term Deposit accounts.

  • Loan Facility: Loan facility available .

  • Nomination: Available.

  • Core Basic Installment: Rs. 500/- (Monthly installment should be deposited on or before 10th of each month to obtain full benefit of installment for that particular month)

  • Monthly Installments: Nil or any amount in multiple of Rs. 100/-, subject to maximum of 10 monthly installment. The depositor has the option of flexibility in payment of installments at his convenience based on his fund availability.

  • Minimum Yearly Deposit: Rs. 6000/-.

  • TDS: TDS as applicable shall be realised.

  • Eligibility :
  • Any Individual

  • Institution

  • Corporate/ Proprietorship/ Partnership Firm

  • Trust

  • HUF

  • The maturity value will not be mentioned and will be calculated based on monthly product of actual amount deposited and interest accrued.

For more details, please feel free to contact your nearest Allahabad bank Branch.
*Conditions Applied.

  • Proof of Identity: Photocopy required of any one.
  • PAN Card

  • Passport (along with validity details like date of expiry.

  • Driving License

  • Voter ID Card

  • Identity card with photo issued by: Central Government and its departments, State Government and its departments, Statutory / Regulatory Authorities, Public sector undertakings.

  • Proof of Address: Photocopy required of any one.
  • Passport

  • Voter Id

  • Driving License

  • Bank Passbook / statement.

  • Latest electricity bill or Landline Telephone bill (atleast 3 months old).