Allahabad Bank raises fixed deposit rates by 2.25 per cent

State-owned Allahabad Bank on Monday raised fixed deposit rates across various maturities by up to 225 basis points or (2.25 per cent).

The bank has decided to revise the interest rate ranging from 25 basis points to 225 basis points on various term deposits, Allahabad Bank informed the Bombay Stock Exchange.

The new rates on fixed deposit below Rs 5 crore will be effective from June 9, it said.