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Business News/ Money / Personal Finance/  Bandhan Bank revises interest rates on savings accounts: Now get up to 6.50%
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Bandhan Bank revises interest rates on savings accounts: Now get up to 6.50%

Bandhan Bank, a private lender, has modified its interest rates on savings bank accounts.

The aforementioned interest rates will be determined per day depending on the account's end-of-day outstanding balance. Furthermore, interest is paid on June 30, September 30, December 31, and March 31 of every calendar quarter, according to Bandhan Bank.Premium
The aforementioned interest rates will be determined per day depending on the account's end-of-day outstanding balance. Furthermore, interest is paid on June 30, September 30, December 31, and March 31 of every calendar quarter, according to Bandhan Bank.

Bandhan Bank, a private lender, has modified its interest rates on savings bank accounts. According to the bank's official website, the new interest rates will take effect on September 16, 2022, for both domestic and non-resident rupee savings bank accounts. After the adjustment, the bank is now permitting savings account holders to earn up to 6.50% in interest.

Bandhan Bank Savings Account Interest Rates

On savings account daily balance up to 1 lakh, the bank is now offering an interest rate of 3.00% and on savings account daily balance above 1 lakh to 10 lakh the bank will now promise an interest rate of 6.00%. Bandhan Bank will now offer an interest rate of 6.25% on savings account daily balance above 10 lakh to 2 crore and the bank will now promise an interest rate of 6.00% on savings account daily balance above 2 crore to 10 crore.

On savings account daily balance above 10 crore to 50 crore, savings account holders will now get an interest rate of 6.00% and on savings account daily balance above 50 crore to 100 crore, savings account holders will now get a maximum interest rate of 6.50%. The aforementioned interest rates will be determined per day depending on the account's end-of-day outstanding balance. Furthermore, interest is paid on June 30, September 30, December 31, and March 31 of every calendar quarter, according to Bandhan Bank.

Bandhan Bank Savings Account Interest Rates
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Bandhan Bank Savings Account Interest Rates (bandhanbank.com)

Bandhan Bank has mentioned on its website that “Interest of 3.00% p.a will be applied for amount up to 1 lakh, 6% p.a will be applied on the incremental balance over and above 1 lakh up to 10 lakh, 6.25% p.a will be applied on the incremental balance over and above 10 lakh up to 2 crore, 6% p.a will be applied on the incremetal balance over and above 2 crore up to 50 crore and 6.50% will be applied on the incremental balance over and above 50 crore to 100 crore."

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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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Published: 16 Sep 2022, 03:21 PM IST
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