Bandhan Bank has increased its fixed deposit (FD) interest rates by 20 basis points for select tenures, offering up to 7.95% interest to senior citizens and 7.45% to other customers for deposits with a maturity period of two years to less than three years.
The revised rates come amid continued competition among banks to attract retail deposits. Bandhan Bank said senior citizens will also earn 7.75% interest on fixed deposits with a tenure of three years to less than five years, while other customers will receive 7.25% for the same period.
According to the bank, deposits of one year to less than two years will continue to earn 7% for regular customers and 7.5% for senior citizens. For tax-saver fixed deposits, the interest rates stand at 6.25% for regular customers and 7.25% for senior citizens. Deposits with a tenure of five years to 10 years will earn 5.85% and 6.60%, respectively.
Apart from fixed deposits, Bandhan Bank is offering 6.5% interest on savings account balances above Rs 5 lakh and up to Rs 10 lakh.
The bank said customers can open and manage fixed deposits digitally through its retail internet banking platform and the mBandhan mobile application, enabling quick and paperless transactions.
Financial sector observers in Agartala said the revised FD rates could attract depositors seeking stable returns amid fluctuating market conditions. With a growing number of savers in Tripura preferring fixed-income instruments, the enhanced rates may encourage higher retail deposit inflows from the region, particularly among senior citizens and risk-averse investors looking for secure investment avenues.
