Home / Industry / Banking /  Bandhan Bank revises bulk FD rates, now fetching returns up to 8%

The private sector lender Bandhan Bank has revised interest rates on bulk fixed deposits of more than 2 Cr. As per the official website of the bank, the new rates are effective as of November 24, 2022. The bank is now providing interest rates between 3.25% and 5.00% on fixed deposits with maturities ranging from 7 days to 10 years. Both callable and non-callable deposits are subject to the updated interest rates for bulk deposits.

Bandhan Bank Bulk FD Rates With Premature Payment Facility

On FDs maturing in 7 days to 28 days, the bank is now offering an interest rate of 3.25% and on those maturing in 29 days to 90 days, Bandhan Bank is now offering an interest rate of 5.40%. Bandhan Bank is now offering an interest rate of 6.00% on FDs maturing in 91 days to 364 days and an interest rate of 7.25% on those maturing in 365 days to 15 months. On FDs maturing in 15 months to less than 5 years, the bank is now promising an interest rate of 6.15% and on those maturing in 5 years to 10 years, Bandhan Bank is now offering an interest rate of 5.00%.

Bandhan Bank Bulk FD Rates
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Bandhan Bank Bulk FD Rates (bandhanbank.com)

Bandhan Bank Bulk FD Rates Without Premature Payment Facility

On FDs maturing in 7 days to 28 days, the bank is now offering an interest rate of 3.25% and on those maturing in 29 days to 90 days, Bandhan Bank is now offering an interest rate of 5.80%. Bandhan Bank is now offering an interest rate of 6.30% on FDs maturing in 46 days to 90 days and an interest rate of 6.75% on those maturing in 91 days to 364 days. Deposits maturing in 365 days to less than 15 months will fetch an interest rate of 8.00% and those maturing in 15 months to less than 5 years will now fetch an interest rate of 7.40%. On FDs maturing in 5 years to 10 years, the bank is now promising an interest rate of 5.50%.

Bandhan Bank Bulk FD Rates
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Bandhan Bank Bulk FD Rates (bandhanbank.com)

Bandhan Bank has mentioned on its website that “In case of premature withdrawal of deposit 1% penalty will be levied on the corresponding ROI for which the deposit is actually kept with the bank. Any deposit above 10 crore can be taken only after prior approval of treasury."

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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