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HomeBusinessGood news for Bandhan Bank customers! Interest on savings account increased,...

Good news for Bandhan Bank customers! Interest on savings account increased, know latest rates

Bandhan Bank Hikes Interest: There is news of work for the customers of Bandhan Bank, the private sector bank of the country. The bank has increased the interest rates of its savings bank account. This new rate has come into effect from 8 August 2022. The bank has increased the interest rates from Rs 1 lakh to Rs 10 lakh on deposits (Saving Account Rates). The bank has increased the customers by 1 percent i.e. 100 basis points. Offering its customers a maximum interest rate of 6.25% on varying amounts.

The interest rate available to customers on Bandhan Bank-
Bandhan Bank offers its customers an interest rate ranging from 3 percent to 6.00 percent on its savings bank account. This interest rate is fixed according to the different amount. Let us know about the interest rate available on different amounts-

    • Deposits of Rs 1 lakh – 3.00%
    • Deposits of Rs 1 to 10 lakh – 6.00%
    • Deposits of Rs 10 lakh to Rs 2 crore – 6.25%
    • Deposits of Rs 2 crore to Rs 10 crore – 6.00%
    • Deposits of Rs.10 cr to Rs.100 cr – 6.00%

When do you get interest on savings account-
Let us tell you that according to the rules, Bandhan Bank deposits its customers after every three months in the interest rate account of the total amount deposited in the savings account. This interest is credited to the account on 30th of every financial year, 30th of September, December 31st and March 31st.

RBI hikes interest rate
Let us tell you that the Reserve Bank of India has once again increased the repo rate to control the rising inflation in the country. In the review meeting held between August 3 and 5, the central bank has decided that the repo rate will be increased by 0.50 percent. Even before this, RBI had increased the repo rate twice in the month of May and June by a total of 0.90 percent. At present the repo rate is 5.40 percent. Since this increase, the pressure of debt on the people has increased. Loans have become expensive already. Along with this, the interest rates of deposit schemes like FD Rates, RD Rates and Saving Account Rates have also increased.

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