Bharatiya Mahila Bank has established itself as a pioneer when it comes to the economic empowerment of women, carving a niche position for itself. An award winning bank, this comparatively new entity has won the hearts of its customers, providing not only great products but also training and imparting valuable knowledge to women, enabling them to stand on their feet. Bharatiya Mahila Bank offers three FDs at extremely competitive and attractive interest rates, with unmatched features designed to simplify banking, while helping both the bank and customers grow together. Interest rates offered by Bharatiya Mahila Bank vary depending on the term of a particular fixed deposit, with different terms having different interest rates.
Fixed deposits with a tenure ranging from 7 days to 364 days are categorized as short-term fixed deposits. These FDs generally earn a lower rate of interest than long-term deposits, with rates ranging between 5% and 7.50% per annum. FDs with a term of 30, 60 and 90 days earn an interest of 5% per annum. FDs with a term of 120 days earn an interest of 7% per annum, while FDs with a term of 6 and 9 months earn an interest of 7.50% per annum.
Fixed Deposits which have a tenure of over 1 year are categorized as medium and long-term deposits. Bharatiya Mahila Bank offers a higher interest rate on long term deposits, with an interest of 7.90% per annum for deposits with a term period of 1 year. This rate drops to 7.75% per annum for deposits with a tenure of more than 1 year up-to 3 years. Deposits with a tenure of more than 3 years to 10 years earn interest rate at 7.50% per annum.
Bharatiya Mahila Bank offers special interest rates to senior citizens. Senior citizens with FDs with BMB are eligible for interest rates which are 50 base percentage points higher than the interest rates offered to others. This essentially means that FDs held by senior citizens earn an interest which is 0.50% higher than others. The interest is 5.50% per annum for term periods of 30, 60 and 90 days. Terms of 120 days earn interest of 7.50% per annum, while FDs for a tenure of 6 or 9 months get an interest of 8.00% per annum. FDs for more than 1 and 3 years earn interest at the rate of 8.25% per annum, while an FD for 3 to 10 years earns an interest of 8.50% per annum. FDs for 1 year earn the highest interest which stands at 8.40% per annum
Bharatiya Mahila Bank revised its FD rates this year and the rates have been effective since August. Listed below are the changes in respect to Bharatiya Mahila Bank FD interest rates effective from August 2016.
The rate of interest for FDs with tenure of 120 days has been changed from 7% to 6.50%. The interest rate for a FD of tenure 1 year has been reduced from 7.90% to 7.25%. Deposits between 1-3 years comes at a rate of interest of 7.25%. The interest rate for deposits with tenure more than 3 years has been changed to 7%.
26th August 2016
Bharatiya Mahila Bank (BMB) has revised its interest rate on fixed deposits of less than Rs. 1 crore for a period of 1 year. The interest rate has been reduced from 7.9 percent earlier to 7.75 percent with effect from January 21, 2016. However, the annualised yield from an FD of less than Rs. 1 crore for 1 year would be 7.98 percent.
There is no change in interest rates for fixed deposits of any other tenor or amount. The bank does not allow deposits of Rs. 1 crore or more for a period of more than 1 year. Senior citizens get 0.5 percent additional interest on all maturities for deposits below Rs. 1 crore. They are not eligible for any additional interest for bulk deposits of Rs. 1 crore or more.
4th February 2016
The rates for deposits across banks and financial institutions in India have seen deductions post the repo rate cut by the Reserve Bank of India. Bharatiya Mahila Bank offers FDs at extremely competitive and attractive interest rates, with unmatched features designed to simplify banking, while helping both the bank and customers grow together. Interest rates offered by Bharatiya Mahila Bank vary depending on the term of a particular fixed deposit, with different terms having different interest rates.
The interest rates on term deposits less than Rs. 1 crore for the period of 1 year, with effect from November 13, 2015, have been revised. The current rate of interest rose by 0.25% and is 7.90% as against the previous rate of 7.75%. Interest rate for fixed deposits more than Rs. 1 crore with 1 year tenure increased by 0.10% to 7.60% from the previous 7.50%.
20th November 2015
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