Bandhan Bank have increased their fixed deposits and Savings Account Interest Rates, The new interest rates are applicable from August 22, 2022 fixed deposit interest rates Up to 75 basis points (bps) across different tenures on an amount less than Rs 2 crore. The new interest rates are applicable from August 22, 2022.

The interest rates on fixed deposits will now range from 3.50 per cent to 7 per cent (tenure between 7 days to 10 years) after revision. Senior citizens will get special benefit in the form of 0.75 percent more interest.

The bank increased interest rates by 75 basis points over a tenure of one to two years, from 6.25 per cent earlier to 7 per cent. Bandhan Bank now offers an interest rate of 7 per cent on a tenure of 2-5 years, which is 50 bps up from 6.50 per cent.

Source: Bank’s website

Bandhan Bank Savings Account Interest Rate

Bandhan Bank has already increased the interest rate on balances above Rs 1 lakh up to Rs 10 lakh to 6 per cent, 5 per cent, an increase of 100 basis points i.e. 1 per cent. The interest rate on other balances remains unchanged.

According to Bandhan Bank’s website, “Interest will be charged at 3.00% p.a. on amounts up to Rs.1 lakh, 6% p.a. on incremental balance above Rs.1 lakh up to Rs.10 lakh, 6.25% p.a. Interest will be levied at the rate applicable on incremental balance above Rs 10 lakh and above Rs 2 crore and 6% p.a. on incremental balance above Rs 2 crore applicable up to Rs 100 crore.

Source: Bank’s website