The non-public sector lender Bandhan Financial institution has altered its financial savings account rates of interest. In keeping with the financial institution’s official web site, the brand new charges take impact on September 30, 2022. These new charges would apply to each home and non-resident rupee financial savings financial institution accounts, in response to the lender. Following the change, the financial institution is now allowing financial savings accounts to earn as much as 6.50% in curiosity. This announcement made by Bandhan Financial institution got here after the Reserve Financial institution of India (RBI) on September 30 introduced a 50 foundation factors hike within the repo price, which now stands at 5.9 per cent.
Bandhan Financial institution financial savings account rates of interest
The financial institution is now giving an rate of interest of three.00% on financial savings accounts with a day by day steadiness of as much as ₹1 lakh, whereas Bandhan Financial institution is now providing an rate of interest of 6.00% on financial savings accounts with a day by day steadiness of ₹1 lakh or extra as much as ₹10 lakh. On financial savings accounts with day by day balances above Rs. 10 lakh to Rs. 2 crores, Bandhan Financial institution is now providing an rate of interest of 6.25%. On financial savings accounts with day by day balances above Rs. 2 crores to Rs. 10 crores, the financial institution is now providing an rate of interest of 6.25%. Financial savings accounts will now give a most rate of interest of 6.50% in case your day by day steadiness is between ₹10 crore and ₹50 crore.
Right here is the Home / Non-Resident Rupee financial savings deposit rates of interest chart, w.e.f. September 30, 2022
In keeping with Bandhan Financial institution’s tips, curiosity is paid on the final day of every calendar quarter on June 30, September 30, December 31, and March 31 which is computed day by day primarily based on the account’s end-of-day steadiness quantity.
For financial savings account holders, Bandhan Financial institution has talked about on its web site that “Curiosity of three.00% p.a will probably be utilized for quantity as much as ₹1 lakh, 6% p.a will probably be utilized on the incremental steadiness over and above ₹1 lakh as much as ₹10 lakh, 6.25% p.a will probably be utilized on the incremental steadiness over and above ₹10 lakh as much as ₹10 crore and 6.50% p.a will probably be utilized on the incremental steadiness over and above ₹10 crore as much as ₹50 crore.”
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Supply: Live Mint