Bandhan Bank revises savings account interest rates The increased interest rates will take effect on September 30, 2022, according to the Bandhan Bank official website
Bandhan Bank has revised the interest rates on its savings accounts. According to the Bandhan Bank official website, the new interest rates are effective from September 30, 2022.The bank will now offer a 3% interest rate on savings accounts with a daily balance of up to Rs 1 lakh. The interest rate on savings accounts with daily balances of more than Rs 1 lakh and up to Rs 10 lakh is 6%. The bank gives 6.25 percent on daily balances between Rs 10 lakh and Rs 10 crore. For daily balance above Rs 10 crore to Rs 100 crore, the bank will offer 6.50 percent.
The above rates are applicable on domestic, non-resident rupee savings accounts.
According to the bank website, “Interest of 3.00% p.a will be applied for amount up to Rs 1 lakh, 6% p.a will be applied on the incremental balance over and above Rs 1 lakh up to Rs 10 lakh, 6.25% p.a will be applied on the incremental balance over and above Rs 10 lakh up to Rs 10 crore and 6.50% p.a will be applied on the incremental balance over and above Rs 10 crore up to Rs 50 crore.”
Bandhan Bank FD interest rates
For amounts less than Rs 2 crore, Bandhan Bank offers interest rates ranging from 3% to 6.5% with terms ranging from 7 days to ten years.
RBI rate hikes
The Reserve Bank of India on Friday hiked repo rate by 0.5% to 5.9% in its latest monetary policy meet.
The State Bank of India offers a 2.7% interest rate on all balances. HDFC Bank pays 3% interest on amounts up to Rs 50 lakh and 3.5% interest on balances greater than Rs 50 lakh. PNB, on the other hand, gives an interest rate of 2.70% on balances less than Rs.10 lakh and 2.75% on balances greater than Rs.10 lakh.
This story originally appeared on: India Times - Author:Faqs of Insurances
