Products

Fixed Deposit


This is a term deposits repayable after an agreed period fixed at the time of deposit. It will include both deposits made for a fixed period and deposits made subject to notice of withdrawal.


   

Double Deposit Plan


Double Deposit Plan (DDP) is an amalgam of Fixed Deposit Scheme and Recurring Deposit Scheme. The interest payable on Fixed Deposit is compounded at quarterly intervals.Although the interest payable is compounded quarterly, it is paid along with the principal only at the end of the stipulated period.


   

Monthly Income Plan


Money is invested under this plan provide fixed monthly income by way of interest to the depositor for a specified period leaving the amount intact. The scheme will specially appeal to retired people who earn no pension.


   

Sishu Mangal Deposit Scheme


The scheme is meant for the welfare of children.A pre-determined amount has to be deposited as per the chart provided from time to time which will grow to Rs.5000/- or its multiple at the expiry of 6 years at the option of the depositor. However, no deposit will continue after the child attains 21 years of age.


   

Flexi Fix Deposit


This scheme gives maximum return without sacrificing the liquidity.It is a running account consisting of multiple units of simple or compound interest fetching Term Deposit Accounts like normal Fixed Deposit or Double Deposit Plan respectively.


   

Tax Benefit Term Deposit


Allahabad Bank Tax Benefit Term Deposit Scheme" offering the benefit under Sec.80C of Income Tax Act for the depositors (Income Tax assesses).Any amount not exceeding Rupees one lakh in a year commencing on the 1st day of April of respective years. The amount to be deposited shall be a minimum of Rupees one hundred or multiples thereof.


   

Recurring Deposit


Recurring Deposit is a type of deposit wherein the depositor pays an agreed fixed amount of money into his/her account every month over a stipulated period.


   

AllBank Monthly Plus


Variable Recurring Deposit is a type of deposit wherein the depositor has the option of flexibility in payment of installments at hisconvenience based on his fund availability.