Bandhan Bank raises its highest deposit rate to 8.05%
Bandhan Bank has revised its deposit rate structure with the introduction of two new maturity schemes.
The private sector lender said it will offer a 8.05% rate for one year fixed deposits — which is a new tenure introduced, while it has withdrawn the one-and-nine month scheme bearing 8% rate. Senior citizens will get 8.55% for the one year deposit, the bank announced Monday.
Effectively, the one-year deposit will now carry the highest offer from the bank.
Meanwhile, it has decided to offer 8% on deposits with a maturity bucket of one year one day to one year nine months. Earlier, one year to one year nine months deposits used to carry 7.25%.
The bank has also introduced a tax saver deposit scheme for five years offering a 7% rate whereas normal deposits over five year carry 5.85%. Seniors will get 7.5% for the tax saving scheme.
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