Bandhan Bank Hikes Term Deposit Interest Rates, Now Offers Up To 8.50%, Check Rate

Bandhan Bank, a private sector bank, has hiked interest rates on a term deposit of up to Rs 2 crores. According to the official website, the revised FD rates are effective from February 6, 2023. For deposit terms ranging from 7 days to 10 years, the bank offers interest rates ranging from 3 percent to 8 percent for regular people and 3.75 percent to 8.50 percent for senior citizens.

Bandhan Bank Term Deposit Revised Interest Rates

Bandhan Bank is offering a 3 percent interest on deposits maturing in 7 to 30 days. It offers 3.50 percent interest on deposits maturing in 31 days to less than 2 months.

Whereas, for deposits maturing 2 months to less than 1 year, the bank offers an interest of 4.50 percent. The bank is now offering an interest of 7.25 percent on deposits for 1 year to 599 days, as well as for deposits maturing 601 days to less than 5 years.

The bank is giving a maximum interest rate of 8 percent for a special maturity period of 600 days (1 year, 7 months, 22 days) for the general public and 8.50 percent for senior citizens.

For the deposit period of 5 years to up to 10 years, the bank is now offering an interest of 5.85 percent. Senior citizens will continue to get additional interest rates on deposits over regular interest rates. These rates are applicable for deposits less than Rs 2 crore.

Retail Domestic/Non-Resident Rupee Term Deposit Interest Rate Chart w.e.f. February 6, 2023

Maturity Bucket	Interest Rates for Non-Senior Citizens	Interest Rates for Senior Citizens
7 days to 14 days	3.00%	3.75%
15 days to 30 days	3.00%	3.75%
31 days to less than 2 months	3.50%	4.25%
2 months to less than 3 months	4.50%	5.25%
3 months to less than 6 months	4.50%	5.25%
6 months to less than 1 year	4.50%	5.25%
1 year to 599 days	7.25%	7.75%
600 days (1 year, 7 months, 22 days)	8.00%	8.50%
601 days to less than 2 years	7.25%	7.75%
2 years to less than 3 years	7.25%	7.75%
3 years to less than 5 years	7.25%	7.75%
5 years to up to 10 years	5.85%	6.60%

Source- BandhanBank.com

Please Note - According to the Bandhan bank, Senior Citizen Rates are only for Resident Indians and do not apply to NRIs. Submission of proof of Age is mandatory to avail Senior Citizen Rates. For pre-mature withdrawal; the Penal Interest Rate of 1% shall be applicable on the card rate. The card rate for premature closure will be lower of the rate for the original/contracted tenure for which the deposit has been booked or the rate applicable for the tenure for which the deposit has been in force with the bank. Minimum tenure for Domestic & NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days from the date of deposit."

.