Bandhan Financial institution revises FCNR deposits, lending charges from 1 July

Personal sector lender, Bandhan Financial institution has revised its International Forex Non-Resident Account (FCNR) deposit charges for July month. The financial institution is providing as excessive as 4.68% in British pound sterling, whereas the speed is round a most of 4.56% in greenback phrases in FCNR accounts. Additional, the lender has revised its benchmark lending charges with impact from July 1, 2023.

FCNR (B) deposits:

As per the financial institution’s web site, for July 2023, Bandhan Financial institution is providing 4.56% in USD (greenback foreign money) for tenures from 1 yr to lower than 5 years. Whereas the rate of interest is way decrease at 3.56% on 5 years tenure right here.

Nevertheless, the rate of interest is way increased at 4.68% in GBP for tenures from 1 yr to lower than 2 years.

These rates of interest are relevant for contemporary and renewal fastened deposits and are topic to vary now and again.

In its phrases and situations, Bandhan Financial institution stated, for FCNR (B) deposits, the curiosity is compounded at a half-yearly frequency.

Additionally, it must be famous that no curiosity can be paid if the deposits are withdrawn earlier than 1 yr.

Additional, the lender stated, “No untimely penalty for the deposit withdrawn after completion of 1 yr. Nevertheless, curiosity shall be paid on the charge relevant for the interval deposit has remained with the Financial institution.”


Bandhan Financial institution has revised its marginal value of funds-based lending charges (MCLR) efficient from July 1, 2023.

MCLR is fastened at 11.05% every for 1-year, 2-year, and 3-year tenures.

Whereas the MCLR is at 8.30% every for 3-month and 6-month tenures.

For shorter durations, like in a single day and one month, the MCLR is at 6.80% every.

Final week, on Friday, Bandhan Financial institution’s share worth closed at 242.40 apiece up by 3.86% on BSE.

Just lately, on June 28, Bandhan Financial institution achieved the milestone of tripling its department presence in lower than 8 years of its operations. The Financial institution now has a complete of greater than 1,500 financial institution branches. With a community of one other 4,500 banking models that the Financial institution already has, the whole variety of banking shops is now greater than 6,000 throughout the nation.

Bandhan Financial institution affords a variety of retail lending merchandise like Residence loans, Private loans, Auto loans, and 2-wheeler loans. 

The financial institution will proceed to develop its presence past its conventional areas of east and northeast with a fair mixture of rural and concrete markets. The Financial institution can be steadily rising the share of secured loans.

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Up to date: 02 Jul 2023, 10:27 PM IST