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Bank hikes interest rates on fixed deposits

Kolkata: Banking and financial services company, headquartered in Kolkata, Bandhan Bank has increased its interest rates on fixed deposits. The bank has hiked the interest rates on fixed deposits of up to Rs 2 crore by 25-50 basis points based on the maturity period. The new rate will be effective from February 6.

The bank is offering 8% interest for a tenure of 600 days for the general public and is offering interest rate of 8.5% interest p.a. for senior citizens.

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This is the  second rate hike on fixed deposits in the last three months by the Bandhan Bank. The lender said that this is a limited period offer. And after this hike, the bank is offering one of the highest interest rates on fixed deposits in the banking industry.

Bandhan Bank was started in 2001 as a not-for-profit enterprise that stood for financial inclusion and women empowerment through sustainable livelihood creation. The lender turned into a non-banking finance company (NBFC) after some years.

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