Home / Money / Personal Finance /  At 7.80.%, Bandhan bank offers inflation-beating rates on bulk deposits from today

Bandhan Bank has revised interest rates of bulk fixed deposits (FDs) with effect from September 26. The FDs range from 2 crore and above. The interest rate is highest at 7.25% on FDs with a premature payment facility, while the rate is massive at 7.80% without the premature withdrawal facility. Bandhan Bank's bulk deposit interest rates are inflation-beating. India's consumer price index (CPI) inflation currently is at 7% by August 2022.

FDs with premature payment facility

Bandhan Bank offers bulk FDs in the range of 2 crore to 50 crore and above. The interest rate is highest at 7.25% on these deposits on tenures from 365 days to less than 15 months.

While the interest rate is 6.15% on FDs from 15 months to less than 5 years. On the highest tenure of 5 years to 10 years, the bank offers a 5% rate on these FDs.

The interest rate is 6% on FDs maturing from 91 days to 364 days, while the rate is 5.05% on tenures of 46 days to 90 days. In the shorter period, 7 days to 45 days tenure, the rates range from 3.25% to 3.75%.

FDs without premature withdrawal facility

Just like above, FDs here range in the bulk of 2 crore to 50 crore and above. The rate is the same between 3.25% to 3.75% on tenures from 7 days to 45 days.

However, the bank offers 6.30% on 46 days to 90 days tenure, while the rate is 6.75% on 91 days to 364 days tenure.

The highest rate is 7.80% on tenures from 365 days to less than 15 months. While a depositor can earn up to a 7.40% rate on FDs maturing from 15 months to less than 5 years.

For the highest maturity period which is 5 years to 10 years, the bank offers a 5.50% rate.

On its website, Bandhan Bank said, 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. Also, Any deposit above 10 crore can be taken only after prior approval of treasury.

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