“Interest of 3.00 per cent per annum will be applied for an amount up to Rs 1 lakh; 6 per cent per annum will be applied on the incremental balance over and above Rs 1 lakh up to Rs 10 lakh; 6.25 per cent per annum will be applied on the incremental balance over and above Rs 10 lakh up to Rs 2 crore; 6 per cent per annum will be applied on the incremental balance over and above Rs 2 crore up to Rs 50 crore and 6.50 per cent will be applied on the incremental balance over and above Rs 50 crore to Rs 100 crore,” as per the bank’s website.
Check the revised interest rates on Bandhan Bank’s savings accounts:
(Source: Bandhan Bank website)
The interest rate of the savings account will be calculated daily based on the end of the day’s clear balance in the account, according to the Bandhan Bank website. The interest is paid every quarter on June 30, September 30, December 31 and March 31 every year, the bank mentions.
These new interest rates will be applicable for both the domestic and non-resident rupee savings deposits, according to the bank’s website. Those who want to know the interest rates on savings accounts with more than Rs 100 crore, can contact the branch manager of the bank, the lender adds.
The private sector bank has also revised the interest rates for bulk deposits of more than Rs 2 crore to Rs 50 crore and above, with effect from September 16,2022.