Bandhan Bank hikes FD charges with as much as 8.00% on this tenor efficient from at this time
Bandhan Bank, a personal sector lender, elevated rates of interest on fastened deposits price underneath ₹2 Cr by as much as 50 bps. From February 6, 2023, the brand new FD charges can be in impact for retail deposits as much as ₹2 crore. The financial institution has launched a particular tenor of 600 days (1 yr, 7 months, and 22 days), on which most of the people will now get a most rate of interest of 8.00% and senior residents would obtain a most rate of interest of 8.50%. This limited-time provide comes with one of many highest rates of interest on fastened deposits within the banking sector in response to the financial institution’s latest adjustment. According to Bandhan Bank, this improve in charges on fastened deposits is the second in three months interval.
Bandhan Bank FD Rates
On time period deposits maturing in 7 days to 30 days, the financial institution is providing an rate of interest of three.00% and on these maturing in 31 days to lower than 2 months, Bandhan Bank is providing an rate of interest of three.50%. Bandhan Bank is providing an rate of interest of 4.50% on a deposit tenor of two months to lower than 1 yr and the financial institution is now promising an rate of interest of seven.25% on a deposit tenor of 1 yr to 599 days.
Deposits maturing in 600 days (1 yr, 7 months, 22 days) will now fetch an rate of interest of 8.00% and people maturing in 601 days to lower than 5 years will now fetch an rate of interest of seven.25%. On a deposit tenor of 5 years to as much as 10 years, Bandhan Bank is providing an rate of interest of 5.85%. The aforementioned charges are legitimate for retail deposits underneath ₹2 crore, and senior citizen charges are completely obtainable to Indian residents; NRIs will not be eligible.
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Bandhan Bank FD Rates (bandhanbank.com)
Bandhan Bank has talked about on its web site that “For pre-mature withdrawal; the Penal Interest Rate of 1% shall be relevant on the cardboard fee. The card fee for untimely closure can be decrease of the speed for the unique/contracted tenure for which the deposit has been booked or the speed relevant for the tenure for which the deposit has been in drive with the financial institution.”
Bandhan Bank now has 5,723 banking models servicing 2.86 crore clients all through 34 of India’s 36 states and union territories.
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