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Allahabad Bank hikes deposit rates

January 18, 2011‐ Kolkata, West Bengal, India

Allahabad Bank has announce today that it has decided to increase the interest rate ranging from 0.50% to 1.50% on various term deposit schemes with effect from January 10, 2011. It may be recalled that on January 4,2 010 few banks - IDBI, Oriental Bank of Commerce and Bank of India announced deposit rate hikes making it one of the best deposit opportunity now, particular for the senior citizens who enjoy a 0.50% extra interest on deposits. Even before them, State Bank of India and HDFC Bank has already hiked their interest rates in a bid to attract more deposits.

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