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 above Rs 1 lakh and up to Rs 10 lakh is 6%. The bank gives 6.25% on daily balances between Rs 10 lakh and Rs 10 crore. For a daily balance above Rs 10 crore to Rs 100 crore, the bank will offer 6.50%.
The above rates apply to domestic and non-resident rupee savings accounts.
According to the bank’s website, “Interest of 3.00% per annum will be applied on an amount up to Rs 1 lakh, 6% per annum will be applied on the additional balance beyond Rs 1 lakh up to at Rs 10 lakh, 6.25% pa will be applied on the additional balance over Rs 10 lakh up to Rs 10 crore and 6.50% pa will be applied on the additional balance over Rs 10 crore up at Rs 50 crore.
Bandhan Bank FD Interest Rates
For amounts below 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 hike
On Friday, the Reserve Bank of India raised its repo rate by 0.5% to 5.9% in its latest monetary policy meeting.
The State Bank of India offers an interest rate of 2.7% on all balances. HDFC Bank pays 3% interest on amounts up to Rs 50 lakh and 3.5% interest on balances above Rs 50 lakh. PNB, on the other hand, gives an interest rate of 2.70% on balances below Rs.10 lakh and 2.75% on balances above Rs.10 lakh.