AllBank hikes interest rates on NRE term deposits

Allahabad Bank has decided to increase interest rates on NRE (Ruppee)term deposits with effect from January 4 for the following periods. For one year to less than two years, the revised interest rate would be 9.50 per cent vis a vis 7.50 per cent as the existing interest rate. For two years to less than three years, the revised interest rate 9.00 per cent as oppose to 7.00 per cent as the existing interest rate while for three years, the revised interest rate has been fixed at 8.75 per cent in contrast to 6.75 per cent as the existing interest rate.