Bandhan Bank revises FD interest rates, offers up to 8.50%
The updated fixed deposit interest rates for retail deposits will be effective from August 7, 2024
 "Bandhan Bank revises FD interest rates, offers up to 8.50%")
Bandhan Bank has revised its fixed deposit (FD) interest rates, offering an attractive 8.50 per cent on an FD with a tenure of 21 months for senior citizens.
On the same FD tenure, other customers will earn 8 per cent interest. The bank is also offering an interest rate of 7 per cent on a balance above Rs 10 lakh in the savings account. The revised FD rates are effective from August 7, 2024.
The changes come as part of the bank's strategy to enhance returns for its customers in response to evolving market conditions.
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“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,” said Rajinder Babbar, ED & CBO of Bandhan Bank.
In addition to the new FD bucket, the bank continues to offer an attractive and competitive interest rate of 7.75 per cent to senior citizens on longer-term fixed deposits for a tenure above one year and nine months to less than 5 years. Others will earn 7.25 per cent for the same term deposits.