Bandhan Bank hikes interest rates on fixed deposits

Bandhan Bank, a private sector lender, has reported a rise in the interest rate on fixed deposits and savings accounts. The revised interest rates went into effect on July 4, 2022 

Types of Bandhan Bank FD scheme

– Standard Fixed Deposit – Premium Fixed Deposit – Dhan Samriddhi Fixed Deposit – Advantage Fixed Deposit – Tax Saver Fixed Deposit – Super Saver Fixed Deposit

Bandhan Bank has maintained its 3.50 per cent interest rate on fixed deposits with maturities between 31 days and less than 2 months. 

The bank increased interest rates on term deposits maturing in 2 months to less than 1 year from 3.50 per cent to 4.50 per cent. 

On deposits of 1 year or less than 2 years, Bandhan Bank will now give an interest rate of 6.25 per cent, up from 5.75 per cent. 

The bank increased interest rates on fixed deposits maturing in 2 years to less than 5 years by 25 basis points, from 6.25 per cent to 6.50 per cent. 

The bank has kept its interest rate steady at 5.60 per cent for long-term deposits of five to ten years. 

Senior citizens will now get a maximum interest rate of 7.25 per cent on term deposits maturing in 2 years or less than 5 years. 

Senior citizens will now get a maximum interest rate of 7.25 per cent on term deposits maturing in 2 years or less than 5 years.