Bandhan Bank hikes interest rates on fixed and savings deposits: Details inside

Bandhan Bank Savings Account Rates

Bandhan Bank will offer an interest rate of 3.00% on the daily balance of the savings accounts till date 1 lakh, and 6.00% on the daily balance of savings accounts of Rs. 1 lakh more 10 lakhs. Daily balance over on savings account from 10 lakhs 2 crore, Bandhan Bank will now offer an interest rate of 6.25%, which will be the maximum applicable interest rate. Bandhan Bank will now offer an interest rate of 6% on the daily balance in the savings account 2 crore to 10 Crore and above Savings Account Daily Balance from 10 crores 100 crores.

These interest rates are applicable to domestic and non-resident rupee savings bank accounts and the daily interest will be calculated using the savings account holder’s account expiry date, as per the bank. Bandhan Bank mentions on its website that “interest will be applicable for amounts up to an amount of 3.0% p.a.” 1 lakh, to be applied on the incremental balance at the rate of 6% p.a. up to 1 lakh 10 lakh, to be applied on the incremental balance @ 6.25% p.a. up to 10 lakhs 2 crore and will be applied on incremental balance at the rate of 6% p.a. up to 2 crore 100 crores.”

Bandhan Bank FD Rates

Bandhan Bank will continue to offer 3% interest rate on fixed deposits under 2 crores which mature in 7 days to 30 days, and 3.5% interest rate on fixed deposits which mature in less than 2 months in 31 days. In Bandhan Bank, fixed deposits maturing in 2 months to less than 1 year will still earn an interest rate of 4.50%, while those maturing in 1 year to less than 2 years will now earn an interest rate of 6.25% to 7% rate will accrue. and an increase of 75 basis points. Bandhan Bank has increased the interest rates on fixed deposits maturing in 2 years by 50 basis points from 6.50% to 7%. Bandhan Bank has kept the interest rate unchanged at 5.60% on fixed deposits with maturities of 5 to 10 years.

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“For premature withdrawal; penal interest rate of 1% will be applicable on the card rate. For premature closure the card rate will be lower than the rate for the original/contracted period for which the deposit is booked or applicable for the period The rate for which the deposit with the bank is applicable,” Bandhan Bank said on its website.

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