Bandhan Bank has lowered its deposit rates by up to 50 basis points.
The bank now offers 7.50% for one year deposits as compared with 7.80% earlier.
The long term 10 year deposits carry 6.5% rate now as compared with 7% earlier. The new rates will be effective from March 31.
Bandhan Bank Managing Director Chandra Shekhar Ghosh has said that “Banks have no alternative but to cut deposit rates as they have lesser opportunity to deploy the fund.”
