Bandhan Bank offers a variety of savings accounts including Elite Savings Account, Premium Savings Account, Advantage Savings Account, Respect Program – For Seniors, Standard Savings Account, Special Savings Account, Sanchay Savings Account, Company Salary Accounts, BSBDA Savings Account and BSBDA-Small Savings Account for clients wishing to open a savings account. With benefits such as 24-hour customer support, unlimited cash transactions at branches and an online application process, the bank also offers an interest rate of up to 6% on savings accounts. . This interest rate was recently revised by the bank and is in effect from November 1, 2021.
Bandhan Bank Savings Account Interest Rate
On November 1, 2021, Bandhan Bank updated its interest rates on domestic and non-resident rupee deposit accounts. Following the most recent change, savings account holders can now receive the maximum interest rate of 6% on balances above Rs 10 lakh to Rs 2 crore in domestic rupee savings bank accounts and non-residents. Here are the latest interest rates on Bandhan Bank savings accounts.
|Domestic and non-resident rupee savings bank account||Interest rate (per year)|
|Daily balance up to Rs 1 lakh||3.00%|
|Daily balance above Rs 1 lakh to Rs 10 lakh||5.00%|
|Daily balance above Rs 10 lakh to Rs 2 crore||6.00%|
|Daily balance above Rs 2 crore to Rs 10 crore||5.00%|
|Source: Bank website. Wed, November 1, 2021|
According to Bandhan Bank’s second quarter FY2021-22 figures in October 2021, the bank’s loan portfolio grew 6.6% year-over-year in the second quarter of FY21-22, deposits grew 23.9% year-over-year in the second quarter of fiscal year 21-22, and retail deposit versus total deposits was 84. percent. During the quarter, the bank attracted 0.8 million new customers, bringing its overall customer base to 24.3 million. The bank restructured an EEB portfolio valued at Rs 34.9 billion and a non-EEB portfolio valued at Rs 2.68 billion during the second quarter of fiscal year 21-22, for a total of 37.58 billion rupees. During the quarter, the bank announced an increased provision of Rs 15 billion on NPA accounts, leading to a PCR of 74%, against 62% in Q1FY22. Bandhan Bank also provided an additional standard asset provision of Rs 21 billion and a provision on restructured assets of Rs 10.3 billion, for a total of Rs 46.3 billion. The bank’s gross non-performing assets (APM) remained at 10.8% and its net non-performing assets (APM) at 3%.
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Article first published: Thursday, November 4, 2021, 3:44 PM [IST]