Bandhan Bank Savings Account Interest Rate: Bank customers, here’s an important update for you. Bank Bandhan recently revised its interest rate for its customers on savings accounts. In order to attract new customers to its savings options, the bank offers interest rates of up to 6%.Also Read – RBI Lifts Restriction on Bandhan Bank MD Compensation
At a time when interest rate offers have slowly fallen, the interest rate on Bandhan Bank savings is one of the highest in the market. It should be noted that several public sector banks only offer a 2.7% annual return on savings accounts. Also Read – Bank Promoter Bandhan Sells 21% Stake To Meet RBI Standard
However, customers should note that Bandhan Bank’s new interest rates are applicable from November 1, 2021. The 6 percent interest rate will not be applicable to all account holders. Also Read – RBI Lifts Restrictions, Allows Bandhan Bank To Open New Branch
Bandhan Bank Savings Account Interest Rate: The bank said the 6% interest rate will be applicable to domestic and non-resident savings bank accounts which have a minimum daily balance between Rs 10 lakh and Rs 2 crore.
In this bank, the interest rate offered to savings accounts with a daily balance of up to Rs 1 lakh is 3% and for accounts with a daily balance limit between Rs 1 lakh and Rs 10 lakh is 5%.
Bank Bandhan offers the highest interest rate because it is actively seeking to expand its customer base in the country. In the recent past, the bank has enjoyed substantial growth not only in its deposits, but also in its loan portfolio.
Compared to figures for the second quarter of last year, the bank’s loan portfolio jumped 6.6% in fiscal year 2021-2022. Growth was also much more impressive in the deposits segment.
According to the latest updates, Bandhan Bank has managed to add over 80 new lakh customers, bringing its overall customer base to 24.3 crore. The bank also restructured an EEB portfolio of Rs 3,490 crore in the second quarter 2021-22, the non-EEB portfolio stands at a valuation of Rs 268 crore in the same quarter.
