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Bandhan Bank FD interest rates hiked: Check latest fixed deposit rates

Bandhan Bank FD interest rates hiked: Check latest fixed deposit rates

With rates going up as high as 8 per cent, Bandhan Bank is offering one of the most lucrative rates among all banks.

Bandhan Bank increases its FD rates Bandhan Bank increases its FD rates

Bandhan Bank has increased its fixed deposit rates, starting from Monday, November 7, in a limited period offer. The rates are applicable for retail deposits of up to Rs 2 crore. With rates going up as high as 8 per cent, Bandhan Bank is offering one of the most lucrative rates among all banks. 

Customers will get interest rates of 7.50 per cent for a tenure of 600 days. Senior citizens can avail of interest rates of 8 per cent for the same tenure. 

For shorter tenures such as 7-14 days and 15-30 days, interest rates are 3 per cent and 3.50 per cent for non-senior and senior citizens respectively. For 31 days to 2 months, the rates are 3.50 per cent and 4.25 per cent for non-senior and senior citizens. 

For tenures such as 2-3 months, 3-6 months and 6 months-1 year, the rates are 4.50 per cent and 5.25 per cent for non-senior and senior citizens. 

Bandhan Bank increases FD rates
Bandhan Bank increases FD rates

Some of the higher rates are offered on tenures of 1 year-599 days, 601 days-2 years, 2-3 years and 3-5 years, with interests of 7 per cent for senior citizens and 7.50 per cent for senior citizens. 

Interest rates for 5-10 years tenure is 5.60 per cent for non-senior citizens and 6.35 per cent for senior citizens.

It must be kept in mind that the senior citizen rates are for Indian residents only and do not apply to NRIs. To avail of senior citizen rates, one must submit proof of age. 

Interest earned on the fixed deposit will be subject to tax deducted at source as per income tax laws. If one does not submit Income Tax Pan Number, TDS will be deducted at a higher rate. 

If one wishes to make a premature withdrawal, then they have to pay a penal interest rate of 1 per cent, which will be applicable on the rate card. Rate card for premature closure will be lower than the rate of the original tenure for which the deposit was booked.

Also read: Bandhan Bank tanks 7% as analysts cut FY23 EPS estimates by up to 40%