This private bank revises bulk FD rates; earn up to 7.70% without premature facility

Kolkata-based private banker, Bandhan Bank has revised its interest rates on bulk fixed deposits with effect from Wednesday onward. Under the latest revision, the bank is offering between 3.25% to 7.25% interest rates with a premature withdrawal facility, however, the interest rate is higher without a premature withdrawal payment option. As much as a 7.7% rate can be earned on a little over 1-year tenure without a premature withdrawal facility. The interest rates are on bulk FDs ranging from 2 crore to 50 crore and above.

FD rates with premature payment facility:

The bank offers the highest rate of 7.25% on tenures for 365 days to less than 15 months, while the rate is 6% on tenures from 91 days to 364 days, and between 15 months to less than 5 years.

A depositor can earn up to a 5.05% rate on FDs maturing 46 days to 90 days tenure, and 5% on the highest tenure of 5 years to 10 years.

On the short-term period, 7 days to 45 days, the interest rate is between 3.25% to 3.75% on these FDs.

The rates are similar on FDs from 2 crore to 50 crore and above.

FDs without premature payment facility:

On FDs from 2 crore to 50 crore and above, the bank offers a 7.70% rate on tenures from 365 days to less than 15 months. The rate is 6.75% on tenures from 91 days to 364 days, and from 15 months to less than 5 years.

A 6.75% rate is offered on tenures of 91 days to 180 days, while the rate is 6.30% on 46 days to 90 days tenures. On the highest tenure of 5 years to 10 years, the interest rate is 5.50%.

The interest rate is 3.25% to 3.75% on short tenures from 7 days to 45 days.

Under this facility, the bank stated, in case of premature withdrawal of deposit 1% penalty will be levied on the corresponding ROI for which the deposit is actually kept with the bank. Also, any deposit above 10 crore can be taken only after prior approval of treasury.

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