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Bandhan Bank Hikes Interest Rates On Fixed Deposits By 50 Bps (W.e.f. 4th May 2022)

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Bandhan Bank, a private sector lender, has increased interest rates on fixed deposits of less than Rs 2 crore maturing in one to two years by 50 basis points. According to the bank's official website, the announcement has been made today, May 4th, 2022, and as a result of the revision, the bank has raised interest rates from 5.25 per cent to 5.75 per cent, a hike of 50 basis points or 0.5 per cent, on deposits maturing in one year to 18 months and above 18 months to less than two years. Except for this tenor, the bank has left interest rates on the other tenors constant.

 
Bandhan Bank Hikes Interest Rates On FDs By 50 Bps (W.e.f. 4th May 2022)

Bandhan Bank Regular FD Rates

Bandhan Bank will provide a 3.00 per cent interest rate on deposits maturing in 7 to 30 days starting on May 4, 2022. The interest rate on deposits maturing in 31 days to less than 6 months will be 3.50 per cent, while the interest rate on deposits maturing in 6 months to less than 1 year will be 4.50 per cent. The interest rate on term deposits maturing in one year to 18 months, and above 18 months to less than two years, will now be 5.75 per cent, up from 5.25 per cent previously, a 0.50 per cent increase. The interest rate on fixed deposits maturing in two years to less than five years will be 6.25 per cent, which is the highest among the tenors. The regular interest rate offered by Bandhan Bank on deposits maturing in 5 years and up to 10 years is 5.60 per cent.

TenorsInterest Rates for Non-Senior Citizens
7 days to 14 days3.00%
15 days to 30 days3.00%
31 days to Less than 2 months3.50%
2 months to less than 3 months3.50%
3 months to less than 6 months3.50%
6 months to less than 1 year4.50%
1 year to 18 months5.75%
Above 18 months to less than 2 years5.75%
2 years to less than 3 years6.25%
3 years to less than 5 years6.25%
5 years to up to 10 years5.60%
Source: bandhanbank.com

Bandhan Bank FD Rates For Senior Citizens

Senior citizens would be entitled to an additional 0.75 per cent rate across all tenors over and above the regular rate. Senior citizens will get an interest rate of 3.75 per cent to 6.35 per cent on deposits maturing in 7 days to 10 years starting today, and a rate of 7 per cent on deposits maturing in 2 years to less than 4 years, which would be the highest among the tenors for them.

 
TenorsInterest Rates for Senior Citizens
7 days to 14 days3.75%
15 days to 30 days3.75%
31 days to Less than 2 months4.25%
2 months to less than 3 months4.25%
3 months to less than 6 months4.25%
6 months to less than 1 year5.25%
1 year to 18 months6.50%
Above 18 months to less than 2 years6.50%
2 years to less than 3 years7.00%
3 years to less than 5 years7.00%
5 years to up to 10 years6.35%
Source: bandhanbank.com

Story first published: Wednesday, May 4, 2022, 10:30 [IST]
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