Allahabad Bank today cut its domestic retail term deposit rate by 0.15 percent to 9 percent."The Bank has decided to revise the interest rate downward by 0.15 per cent per annum i.e. from existing 9.15 percent to 9 percent on domestic retail term deposits scheme with maturity period of one year to less than two years," it said in a BSE filing.
The new rates would be applicable from December 18, 2012, it said. Earlier in October, Oriental Bank of Commerce and Bank of India had lowered term deposit rates for select maturities. Shares of Allahabad Bank today ended at Rs 162.55 apiece on the BSE, up 0.65 per cent from the previous close.
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