Home / Finance / News / Bandhan Bank offers 7.5% interest rate on retail FDs for limited period

Bandhan Bank offers 7.5% interest rate on retail FDs for limited period

Rate applicable to both fresh deposits and renewals of up to Rs 2 crore for a tenure of 600 days, seniors to get 0.5% more

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Given that 45 per cent of bank deposits are CASA, it is only the 55 per cent of term deposits that need adjustment and hence ideally, a 190-basis point increase in repo rate could result in 105 basis point increase in deposit rate.

BS Reporter Mumbai

2 min read Last Updated : Nov 07 2022 | 5:20 PM IST

Kolkata-based private sector lender Bandhan Bank on Monday said it has launched a limited period fixed deposit scheme, offering one of the highest interest rates in the banking sector. The bank is offering an interest rate of 7.5 per cent on retail deposits of up to Rs 2 crore for a tenure of 600 days, effective from November 7.

Senior citizens will get 50 basis points more on FDs this scheme, taking their returns to 8 per cent for a 600-day tenure fixed deposit of up to Rs 2 crore.

This will be applicable to fresh deposits as well as

Topics : Fixed Deposit Bandhan Bank Interest Rates fixed deposit rates deposit rates Public sector bank deposits credit growth Banking sector bank credit growth public sector banks

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