The private sector lender Bandhan Bank has recently revised interest rates on savings accounts which are in force from June 7, 2021. Based on the daily balance limit, the bank is now offering savings account interest rates ranging from 3% to 6% after the most recent adjustment. As per the Bandhan Bank's official website, the private lender is giving a 3% savings account interest rate on a daily balance of up to Rs 1 lakh. The bank is giving 4% savings account interest on a daily balance ranging from Rs 1 lakh to Rs 10 lakh. Bandhan Bank is providing customers with a 6% interest on a daily balance of over Rs 10 lakh. Check the revised interest rates on the savings account of Bandhan Bank here.
Minimum balance limit on Bandhan Bank savings account
Check the monthly average limit on different savings accounts of Bandhan Bank below:
|Savings Account Type||Monthly Average Balance|
|Neo+ Digital Savings Account||Rs 5,000|
|Elite Savings Account||Rs 5 lakhs|
|Premium Savings Account||Rs 1 lakh|
|Advantage Savings Account||Rs 25,000|
|Standard Savings Account||Rs 5,000|
|Special Savings Account||Rs 5,000|
|Sanchay Savings Account||Rs 2,000|
Bandhan Bank Savings Account Interest Rates
With effect from June 7, 2021, Bandhan Bank revises interest rates on its savings accounts, check new rates below:
|Daily Balance||Interest Rates In %|
|Daily Balance up to Rs 1 lakh||3.00%|
|b. Daily Balance above Rs 1 lakh to Rs 10 lakh||4.00%|
|c. Daily Balance above Rs 10 lakh to Rs 10 crore||6.00%|
|Source: Bandhan Bank, W.e.f. June 7, 2021|
- The interest rate will be determined daily depending on the account's end-of-day total balance.
- Interest will be charged at a rate of 3% per year on an amount up to Rs 1 lakh, 4% per year on incremental balance above Rs 1 lakh up to Rs 10 lakh, and 6% per year on incremental balance beyond Rs 10 lakh up to Rs 10 crore.
- You need to contact the branch office for rates on an amount of Rs 10 Crores and beyond.
- Interest is paid on a quarterly basis, i.e. on June 30, September 30, December 31 and March 31 respectively, according to the bank's website.