Bandhan Bank has updated the interest rates for its fixed deposits and introduced a new tenure of 1 year and 9 months, offering an appealing interest rate of 8.50%. For fixed deposits with this duration, senior citizens will receive an interest rate of 8.5%, while other customers will benefit from an interest rate of 8%. Additionally, the bank provides a 7% interest rate on savings account balances exceeding Rs 10 lakh.
The bank is also offering an attractive and competitive interest rate of 7.75% to senior citizens on longer-term fixed deposits for a tenure above 1 year 9 months to less than 5 years. Others will earn 7.25% for the same term deposits.
Regarding introducing a new offering, Rajinder Babbar, ED & CBO, Bandhan Bank, said, “In response to evolving market conditions and our commitment to our customers, Bandhan Bank is excited to introduce our new fixed deposit bucket. This innovative approach embodies our ‘liability-first’ strategy, designed to offer enhanced returns. By aligning our deposit offerings with a deeper understanding of our financial responsibilities and customer needs, we aim to provide both competitive rates and exceptional service.”
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“Our goal is to ensure that our deposit products not only meet but exceed the expectations of our valued clients, reinforcing our position as a leader in financial reliability and customer-centric solutions,” he added.
Customers of Bandhan Bank can also enjoy the benefits of booking or investing in an FD from the comfort of their homes or offices through retail internet banking or mBandhan mobile application. With this online process, customers can book the FDs within a few minutes in a swift and hassle-free manner.