Bandhan Bank revises interest rates on savings accounts: Now get up to 6.50%
1 min read 16 Sep 2022, 03:21 PM ISTBandhan Bank, a private lender, has modified its interest rates on savings bank accounts.
PremiumBandhan 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 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."
