Bandhan Bank has hiked its fixed deposit and savings account interest rates. The new interest rates are applicable from August 22, 2022.
hiked its fixed deposit interest rates by up to 75 basis points (bps) across various tenures on amounts below Rs 2 crore. The new interest rates are applicable from August 22, 2022.

Interest rates on fixed deposits will now be in the range of 3.50 percent to 7 percent (tenures between 7 days and 10 years) after the revision. Senior citizens will receive a special benefit in the form of 0.75 percent higher interest.

The bank increased interest rates by 75 basis points on tenure from one to two years, to 7 percent, up from 6.25 percent previously. Bandhan Bank now offers an interest rate of 7 percent on tenures of 2–5 years, hiked from 6.50 percent, an increase of 50 bps.

Source: Bank website

Bandhan Bank savings account interest rate

Bandhan Bank has hiked interest rate on balances over Rs 1 lakh up to Rs 10 lakh to 6 percent from earlier, 5 percent, an hike of 100 basis points i,e 1 percent. The interest rate on other balances remains unchanged.

According to the Bandhan Bank website, “Interest of 3.00% p.a will be applied to amounts up to Rs 1 lakh, 6% p.a will be applied on the incremental balance over and above Rs 1 lakh up to Rs10 lakh, 6.25% p.a will be applied on the incremental balance over and above Rs 10 lakh up to Rs 2 crore and 6% p.a will be applied on the incremental balance over and above Rs 2 crore up to Rs 100 crore.”

Source: Bank website