Bandhan Bank FD rate hike: The revised FD rates are applicable for retail deposits of up to Rs 2 crores and are effective from February 6, 2023. The offer is for a limited period.
Bandhan Bank FD rate hike: Private sector lender Bandhan Bank on Monday, January 6 hiked the interest rate of Fixed Deposits (FD) by 50 bps or 0.50 per cent. As a part of a special offering, the bank is offering 8 per cent interest for a tenure of 600 days for the general public and is offering interest rate of 8.5 per cent interest p.a. for senior citizens.
The revised FD rates are applicable for retail deposits of up to Rs 2 crores and are effective from February 6, 2023. The offer is for a limited period.
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It is the second-rate hike on FDs in 3 months. According to Bandhan Bank, with this revision, the bank is offering one of the highest interest rates on fixed deposits in the Banking industry.
Bandhan Bank FD interest rate hike: Details
On term deposits maturing in 7 days to 30 days, the bank is offering an interest rate of 3 per cent and on those maturing in 31 days to less than 2 months, Bandhan Bank is offering an interest rate of 3.50 per cent. Bandhan Bank is offering an interest rate of 4.50 per cent on a deposit tenor of 2 months to less than 1 year and the bank is now promising an interest rate of 7.25 per cent on a deposit tenor of 1 year to 599 days.
Deposits maturing in 600 days (1 year, 7 months, 22 days) will now fetch an interest rate of 8 per cent and those maturing in 601 days to less than 5 years will now fetch an interest rate of 7.25 per cent. On a deposit tenor of 5 years to up to 10 years, Bandhan Bank is offering an interest rate of 5.85per cent. The aforementioned rates are valid for retail deposits under Rs 2 crore, and senior citizen rates are exclusively available to Indian residents; NRIs are not eligible.
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Bandhan Bank FD interest rate hike: Online process
The bank offers online services and one can also enjoy the benefits of booking or investing in FD from the comfort of their homes or offices through retail internet banking or mBandhan mobile app.
