BANDHAN BANK

Bandhan Bank may be a full service bank focused on serving under-banked and underpenetrated markets in India. Bandhan Bank is the first bank in India which was transformed from a microfinance entity. The bank currently offers a spread of asset and liability products and services designed for micro banking and general banking.

 

It provides retail loans including a considerable portfolio of micro loans also as micro small and medium enterprise (‘SME’) loans and little enterprise loans. Besides this, bank also offers other products such as debit cards, Internet banking and mobile banking, EDC-POS terminals online bill payment services and therefore the distribution of third-party general insurance products and open-end fund products.

 

A license authorizing the Bank to hold on banking business was issued by the RBI in terms of Section 22 of the Banking Regulation Act on June 17 2015. The Bank began operations on August 23 2015 when Bandhan Financial Services Limited (‘BFSL’) its ultimate parent company transferred its entire micro finance business to the bank and therefore the bank simultaneously commenced general banking activities.

banking zone bandhan bank

 Bandhan Bank Rate of Interest in Fixed Deposit:

  1. 7 days to 14 days – 3.5% and for senior Citizens it is 4.25%
  2. 15 days to 30 days– 4.00% and for senior Citizens it is 4.75%
  3. 31 days to Less than 2 months– 4.00% and for senior Citizens it is 4.75%
  4.  2 months to less than 3 months– 4.00% and for senior Citizens it is 4.75%
  5.  3 months to less than 6 months– 4.50% and for senior Citizens it is 5.25%
  6.  6 months to less than 1 year– 6.80% and for senior Citizens it is 7.55%
  7. 1 year to 18 months– 7.25% and for senior Citizens it is 8%
  8.  Above 18 months to less than 2 years– 7.25% and for senior Citizens it is 8%
  9.  2 years to less than 3 years– 7.40% and for senior Citizens it is 8.15%
  10. 3 years to less than 5 years– 7.35% and for senior Citizens it is 8.10%
  11.  5 years to up to 10 years– 7.25% and for senior Citizens it is 8%

 

Interest rates on Recurring Deposits:

Tenure General Rates Senior Citizen Rates
6 months to 364 days 6.80% 7.55%
1 year to 18 months 7.25% 8.00%
18 months 1 day to 1 year 364 days 7.55% 8.30%
5 years to 10 years 6.40% 7.15%
2 years to 4 years 364 days 7.40% 8.15%

 

Interest rates on Savings Account:

  1. Daily balance up to Rs. 1 Lakh– 4%
  2. Daily Balance above Rs. 1 Lakh to 10 Crore- 6% p.a.
  3. Daily Balance above Rs. 1 Lakh to 10 Crore– 6.55% p.a.

 

Kindly visit here to know special offers and schemes of Bandhan Bank.

 

Please find the links to know about eligibility criteria, documentation needed and procedure required for taking loan.

  •       Housing Loan
  •       Vehicle Loan
  •      Education Loan

 

error: Content is protected !!