• Bharatiya Mahila Bank Fixed Deposit Rates

    Established in 2013, the Bharatiya Mahila Bank was started in order to empower women to be financially independent.

    In order to cater to women, the bank allowed only women to open an account. However, the Bharatiya Mahila Bank now allows everyone to open an account.

    Apart from various financial services and products, the bank also offers fixed deposit accounts. The minimum tenure for an FD account is 7 days and the maximum is 10 years.

    The Bharatiya Mahila Bank officially merged with the State Bank of India in 2017 along with 5 other banks. Rates of interest will be according to the State Bank of India.

    Rate of interest for Bharatiya Mahila Bank fixed deposits of less than Rs.1 crore are:

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)

    1 week to 45 days

    5.75%

    6.25%

    46 days to less than 6 months

    6.25%

    6.75%

    6 months to 7 months

    6.35%

    6.85%

    More than 7 months to less than 1 year

    6.40%

    6.90%

    12 months to less than 2 years

    6.70%

    7.20%

    2 years to less than 36 months

    6.75%

    7.25%

    3 years to less than 60 months

    6.80%

    7.30%

    5 years upto 10 years

    6.85%

    7.35%

    Short-term fixed deposits

    • For a short-term fixed deposit, the rate of interest ranges from 5.75% per annum to 6.40% per annum for regular citizens. Senior citizens receive 6.25% per annum to 6.90% per annum.
    • The tenure for a Bharatiya Mahila Bank short-term deposit ranges from 1 week to less than 1 year.
    • Lowest interest received is for a period of 7 days to 45 days. The rate of interest is 5.75% per annum for regular citizens and 6.25% per annum for senior citizens.
    • For a period of 46 days to less than 6 months, the interest rate is 6.25% per annum for regular citizens and 6.75% per annum for senior citizens.
    • 6.35% per annum is the interest rate for regular citizens for a period of 6 months to 7 months. For senior citizens, the interest rate is 6.85% per annum.
    • For a tenure of 7 months to less than 1 year, the rate of interest is the highest, which is 6.40% per annum for regular citizens and 6.90% per annum for senior citizens.

    Medium-term fixed deposit

    • The tenure for a medium-term deposit by Bharatiya Mahila Bank ranges from 1 year to less than 5 years.
    • The interest rate for a period of 12 months to less than 2 years is 6.70% per annum for regular citizens and 7.20% per annum for senior citizens.
    • For a period of 2 years to less than 3 years, the rate of interest for senior citizens is 7.25% per annum. 6.75% per annum is the interest rate for regular citizens.
    • The highest rate of interest for a medium-term deposit is for a tenure of 3 years to less than 5 years. 6.80% per annum is the interest received for regular citizens and 7.30% per annum for senior citizens.

    Long-term fixed deposits

    • Tenure for a long-term fixed deposit is 5 years to 10 years.
    • Interest rate is 6.85% per annum for regular citizens and 7.35% per annum for senior citizens.

    Bharatiya Mahila Bank fixed deposits for Non-Resident Indians

    The Bharatiya Mahila Bank also offers fixed deposit accounts to Non-Resident Indians who wish to deposit their earnings from abroad along with gaining good rates of interest. NRIs are given the option of depositing their money in Indian rupee as well as in foreign currency.

    The different types of term deposits for NRI deposits are:

    • FCNR term deposits
    • NRE term deposits
    • RFC term deposits
    • NRO term deposits

    NRO term deposits

    NRO term deposits give the Non-resident Indians to deposit their money in the Indian rupee. The tenure for an NRO term deposit ranges from a minimum of 7 days to a maximum of 10 years. Senior citizens are not entitled to additional interest.

    The amount deposited in an NRO term deposit is subjected to tax and only partially repatriable.

    The NRO term deposit interest rates are the same as the interest rates of domestic term deposits offered by the Bharatiya Mahila Bank.

    NRE term deposits

    In the case of NRE term deposits by Bharatiya Mahila Bank, the amount deposited is tax-free and there are also no charges for premature withdrawal. Apart from this, the deposited amount is also completely repatriable.

    1 year to a maximum of 10 years is the range of tenure for a NRE term deposit and the minimum amount required to open the account is Rs.1000.

    Interest rates for Bharatiya Mahila Bank NRE term deposits are:

    Tenure Rate of Interest (below Rs.1 crore) % p.a. Rate of Interest (Rs.1 crore-Rs.10 crore) % p.a. Rate of Interest (Rs.10 crore and above) % p.a.

    1 year up to less than 24 months

    6.70%

    6.70%

    6.70%

    24 months up to less than 3 years

    6.75%

    6.75%

    6.75%

    36 months up to less than 4 years

    6.80%

    6.80%

    6.80%

    60 months to 120 months

    6.85%

    6.85%

    6.85%

    FCNR Term deposit:

    If a customer wishes to deposit his or her earnings in the foreign currency, this term deposit by Bharatiya Mahila Bank is advisable.

    The FCNR term deposit accepts major currencies around the world such as the Great Britain Pound, United States Dollar, Euro, Australian, Japanese Yen and Canadian Dollar.

    The minimum amount required to open an FCNR term deposit account with Bharatiya Mahila Bank is 1000(USD, GBP, JPY, CAD, EUR, AUD).

    The interest rates for FCNR term deposits are:

    Tenure/Currency(interest) JPY USD CAD GBP AUD EUR

    1 year(12 months)

    0.02%

    3.63%

    2.55%

    1.43%

    1.96%

    0.01%

    More than 12 months to less than 2 years

    0.02%

    3.63%

    2.55%

    1.43%

    1.96%

    0.01%

    24 months to less than 3 years

    0.05%

    3.55%

    2.70%

    1.62%

    2.04%

    0.01%

    36 months to less than 4 years

    0.05%

    3.58%

    2.76%

    1.72%

    2.11%

    0.01%

    48 months to less than 5 years

    0.05%

    3.61%

    2.79%

    1.80%

    2.37%

    0.10%

    5 years

    0.05%

    3.62%

    2.81%

    1.86%

    2.47%

    0.15%

    RFC Term deposit by Bharatiya Mahila Bank

    RFC term deposit is similar to FCNR in terms of depositing money in foreign currency. This type of term deposit is ideal for customers who are living abroad but wish to move to India permanently.

    Deposits in an RFC term deposit can be made only in 3 major foreign currencies which are the Euro, United States Dollar and the Great Britain Pound.

    Tenure for an RFC deposit ranges from a minimum of 1 year to 3 years and the minimum amount required is 1000(USD, EUR, GBP).

    Rate of interest for RFC term deposits are:

    Tenure/Currency(interest) EUR USD GBP

    More than 12 months to less than 2 years

    0.01%

    3.63%

    1.43%

    24 months to less than 3 years

    0.01%

    3.55%

    1.62%

    3 years

    0.01%

    3.58%

    1.72%

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