Bharatiya Mahila Bank was incorporated with the main objective to encourage more women in the country to have bank accounts. Though it was initially a bank for ‘women only’, now, everyone can open an account here. In 2017, the Bharatiya Mahila Bank became a fully owned subsidiary of the State Bank of India (SBI). Consequently, the fixed deposit schemes and interest rates offered will be the same as that offered by the well-known public sector bank SBI. Before applying for a fixed deposit, take a look at all the interest rates.
The SBI went on to merge with as many as 5 associate banks including Bharatiya Mahila Bank in the early half of 2017. The banks include State Bank of Patiala, State Bank of Hyderabad, State Bank of Travancore, State Bank of Mysore and State Bank of Bikaner and Jaipur. SBI fixed deposit rates will be the same as that applicable to this bank.
The updated list of Bharatiya Mahila Bank FD Rates for Regular and Senior Citizen, with effect from 28 May, 2018, is listed below:
|Tenure||Regular FD Rates||Senior Citizen FD Rates|
|7 days to 45 days||5.75%||6.25%|
|46 days to 179 days||6.25%||6.75%|
|180 days to 210 days||6.35%||6.85%|
|211 days to 364 days||6.40%||6.90%|
|1 year to less than 3 years||6.65%||7.15%|
|3 years to less than 5 years||6.70%||7.20%|
|5 years to 10 years||6.75%||7.25%|
*For deposits that are less than Rs.1 crore
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