This bank is offering up to 6% interest on savings account; check details

If you are looking to earn good interest rates on your savings account, here's a bank that you can consider. Bandhan Bank has changed the interest rates available on the savings account to increase savings and attract new customers, the bank is offering an interest rate of 6 per cent per annum on savings accounts. At present, the savings interest rate of Bandhan Bank is the highest in the market.

The new interest rate of Bandhan Bank has been implemented from 1 November 2021. A maximum interest rate of 6 per cent will be applicable on domestic and non-resident savings bank accounts. However, in these, the minimum balance is between Rs 10 lakh to Rs 2 crore every day.

Apart from this, the interest rate on daily balance (minimum balance in the account) up to Rs 1 lakh is 3 per cent. At the same time, the interest rate on accounts having a minimum balance between Rs 1 to 10 lakh is 5 per cent and for Rs 10 lakh crore to Rs 2 crore, this rate is 6 per cent.

Bandhan Bank is emphasizing on expanding its customer base in the country. The bank has made substantial growth not only in deposits but also in its loan portfolio. According to last year's quarterly data, the bank's loan portfolio has seen a growth of 6.6 per cent in the financial year 2021-22. Moreover, Bandhan Bank has managed to add more than 80 crore new customers taking the total to Rs 243 crore.

Notably, the interest will be calculated on a daily basis based on the balance at the end of the day in the savings account. The interest is paid every quarter on 30th June, 30th September, 31st December and 31st March.

Source : DNA India