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Allahabad Bank launches retail loans linked with RBI's Repo Rate

19 Sep 2019 Evaluate

Allahabad Bank has launched Retail loans and loans to Micro & Small Enterprise linked with External Benchmark Rates published by Financial Benchmarks India (FBIL), as per the guidelines of Reserve Bank of India (RBI). Presently, the Bank has identified RBI's Repo Rate and 3 month MIBOR as the Benchmark Rates.

Further, all the Saving Bank Deposits of Rs 40 lakh and above, Long tenure Fixed Deposit, Bulk Deposits and Flexi Fix Deposits will be linked with External Benchmark Rate i.e. RBI's Repo Rate.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

Peers
Company Name CMP
State Bank Of India 961.70
PNB 116.10
Bank Of Baroda 230.00
Canara Bank 118.60
Union Bank Of India 172.00
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