If you’re planning to invest in a fixed deposit, there is good news.
Bandhan Bank has increased its FD interest rates for select tenures, offering higher returns to both regular and senior citizen customers.
The bank has raised rates by up to 20 basis points on certain deposits.
With the latest revision, senior citizens can now earn a maximum interest rate of 7.95%, while general customers can get up to 7.45% on eligible FDs.
Highest FD Rates Offered by Bandhan Bank
The highest interest rate is available on fixed deposits with a tenure of 2 years to less than 3 years.
For this period:
General customers will earn 7.45%
Senior citizens will earn 7.95%
The bank is also offering attractive rates on longer-term deposits.
For FDs with a tenure of 3 years to less than 5 years:
General customers will receive 7.25%
Senior citizens will receive 7.75%
Savings Account Holders Also Benefit
Apart from fixed deposits, Bandhan Bank is offering attractive returns on savings accounts as well.
Customers maintaining a savings account balance between Rs 5 lakh and Rs 10 lakh can earn an interest rate of 6.5%.
Latest Bandhan Bank FD Interest Rates
Here are some of the key FD rates currently offered by the bank:
| FD Tenure | General Customers | Senior Citizens |
|---|---|---|
| 1 Year | 7.00% | 7.50% |
| 1 Year 1 Day to Less Than 2 Years | 7.00% | 7.50% |
| 2 Years to Less Than 3 Years | 7.45% | 7.95% |
| 3 Years to Less Than 5 Years | 7.25% | 7.75% |
| 5 Years to 10 Years | 5.85% | 6.60% |
| Tax Saver FD | 6.25% | 7.25% |
Short-term deposits starting from 7 days are also available, with rates varying according to the tenure.
Why Is This Update Important?
The FD rate hike comes shortly after the Reserve Bank of India (RBI) decided to keep key policy rates unchanged.
In its latest monetary policy review, the RBI maintained the repo rate at 5.25% and continued with its neutral policy stance.
The central bank said the decision was taken after assessing domestic and global economic conditions, including uncertainties arising from geopolitical tensions in West Asia.
RBI Keeps Interest Rates Unchanged
The Monetary Policy Committee (MPC) unanimously voted to maintain the current interest rate structure.
As a result:
Repo Rate remains at 5.25%
Standing Deposit Facility (SDF) Rate remains at 5.00%
Marginal Standing Facility (MSF) Rate remains at 5.50%
Bank Rate remains at 5.50%
With RBI holding rates steady, banks are making their own adjustments to attract depositors.
Bandhan Bank’s latest FD rate revision could be an attractive option for savers, especially senior citizens looking for higher returns on their investments.
Before investing, customers should compare available tenures and interest rates to choose the option that best suits their financial goals.
