Bank introduces new bucket of 1 year 9 months
FinTech BizNews Service
Mumbai, 13 August 2024: Bandhan Bank has announced a new bucket of 1 year 9 months at an attractive interest rate of 8.50%. For a fixed deposit of 1 year 9-month, the bank offers 8.5% interest rates for senior citizens. On the same FD tenure, other customers will earn 8%. Bandhan Bank also offers an interest rate of 7% on a balance above Rs.10 lakh in the savings account.
The Bank is also offering an attractive and competitive interest rate of 7.75% to senior citizens on longer-term fixed deposits for a tenure above 1 Year 9 Months to less than 5 years. Others will earn 7.25% for the same term deposits.
Retail Domestic / Non-Resident Rupee Term Deposit Interest Rate Chart w.e.f. 07/08/24 |
| |||||
Maturity Bucket | Non-Senior Citizens | 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 less than 1Year 9 Months | 7.25% | 7.75% | ||||
1 Year 9 Months | 8.00% | 8.50% | ||||
1Year 9 Months 1 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% | ||||
Regarding introducing a new offering, Rajinder Babbar, ED & CBO, Bandhan Bank Said “In response to evolving market conditions and our commitment to our customers, Bandhan Bank is excited to introduce our new fixed deposit bucket. This innovative approach embodies our ‘liability-first’ strategy, designed to offer enhanced returns. By aligning our deposit offerings with a deeper understanding of our financial responsibilities and customer needs, we aim to provide both competitive rates and exceptional service. Our goal is to ensure that our deposit products not only meet but exceed the expectations of our valued clients, reinforcing our position as a leader in financial reliability and customer-centric solutions.”
Customers of Bandhan Bank can also enjoy the benefits of booking or investing in FD from the comfort of their homes or offices through retail internet banking or mBandhan mobile application. With this online process, customers can book the FDs within a few minutes in a swift and hassle-free manne
