Private sector lender Bandhan Bank is the latest bank to revise the interest rates on its fixed deposits (FD). FD rates in Bandhan Bank range from 3.50 % p.a. to 7.65% p.a. for deposits with a tenure of seven days to 10 years. For FDs maturing in seven days to 14 days, Bandhan Bank offers 3.50% interest rate. For term deposits maturing in 15 days to less than three months, the bank offers an interest rate of 4.00%. For 3 months to less than 6 months deposits, Bandhan Bank offers a 4.5% rate of interest.

For deposits with a tenure of 7 days to 18 months, Bandhan Bank is offering an interest rate of 7.35%. Senior Citizens get an additional 0.75% over the slab rates for regular customers. For FDs maturing in more than one and half years to less than 2 years, Bandhan Bank offers a 7.50% interest rate.

Bandhan Bank FD rates are among the highest for long-term deposits, wherein the FD rate of interest is 7.65% p.a. Bandhan Bank fixed deposit rates for deposits with a tenure of 2 to 10 years is 7.65%.

Bandhan Bank on Friday reported a 45.55% year-on-year rise in net profit at  <span class='webrupee'>₹</span>701.14 crore for the quarter ended 30 June.
Bandhan Bank on Friday reported a 45.55% year-on-year rise in net profit at 701.14 crore for the quarter ended 30 June.

Earlier top lenders like State Bank of India (SBI), ICICI Bank, Axis Bank, HDFC Bank, Kotak Mahindra Bank and IDFC First Bank revised their FD rates after RBI reduced its repo rates by 25 basis points in June 6 Monetary Policy Review.

Bandhan Bank on Friday reported a 45.55% year-on-year rise in net profit at 701.14 crore for the quarter ended 30 June, on the back of higher net interest income and other income.

Fixed deposits rates of any bank are determined by many factors such as monetary policies of RBI, economic growth rate, credit demand and liquidity position of the bank.

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