A private lender Bandhan Bank has revised its interest rates on savings bank accounts. According to the bank’s official website, the new interest rates will be effective from September 16, 2022, for both domestic and non-resident rupee savings bank accounts. Post adjustments, the bank is now allowing savings account holders to earn up to 6.50% in interest.
Bandhan Bank Savings Account Interest Rates
Daily Balance on Savings Account up to 1 lakh, the bank is now offering an interest rate of 3.0% and daily balance on savings account from 1 lakh 10 lakh bank will now promise an interest rate of 6.00%. Bandhan Bank will now offer interest rate of 6.25% on daily balance in savings account from 10 lakhs 2 crore and the bank will now promise an interest rate of 6.00% on the daily balance in the savings account 2 crore 100 million.
up daily balance on savings account from 10 crores 50 crore, savings account holders will now get 6.00% interest rate and daily balance on savings account from 50 crores 100 crore, savings account holders will now get maximum interest rate of 6.50%. The above interest rates will be determined per day based on the balance outstanding at the end of the day of the account. In addition, according to Bandhan Bank, interest is paid on June 30, September 30, December 31 and March 31 of each calendar quarter.
Bandhan Bank mentions on its website that “interest will be applicable for amounts up to an amount of 3.0% p.a.” 1 lakh, to be applied on the incremental balance at the rate of 6% p.a. up to 1 lakh 10 lakh, to be applied on the incremental balance @ 6.25% p.a. up to 10 lakhs 2 crore, 6% p.a. will be applied on incremental balance and above up to 2 crore 50 crore and 6.50% will be applicable over and above the incremental balance from 50 crores 100 crores.”
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