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Bharat Bank FD Interest Rates

Home Fixed Deposit Bharat Bank Fixed Deposit Rates
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Updated: 21-05-2024 06:38:03 AM

The Bharat Cooperative Bank (Mumbai) Ltd., also known as Bharat Bank, offers FD interest rates of 3.50% – 7.15% p.a. to the general public and 3.50% – 7.65% p.a. to senior citizens for tenures ranging from 7 days to above 5 years. The interest rates for Bharat Bank Flexi Fixed Deposit Current Account (FFDCA) is 3.50% p.a. for 29 days and 4.00% p.a. for 90 days. The lender also offers Bharat Deposit Tax Benefit scheme at interest rates of 6.75% p.a. for tenures of 5 years.

Bharat Bank FD Rates 2024

Bharat Bank FD Interest Rates 2024
Highest Slab Rate 7.15% p.a. (for 1 year to 15 months)
For 1 year 7.15% p.a.
For 2 years 7.00% p.a.
For 3 years 7.10% p.a.
For 4 years 6.00% p.a.
For 5 years 6.00% p.a.

 Note: Interest rates as of 1st May 2024

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Bharat Bank FD Interest Rates for Term Deposits (Domestic and NRO*) w.e.f. 18 April 2024

Tenure Interest Rates (% p.a.) for deposits below Rs 1 crore
General Public Senior Citizen
7 days up to 29 days 3.50 3.50
30 days up to 60 days 3.75 3.75
61 days to 90 days 4.00 4.00
91 days to 180 days 4.25 4.25
181 days to less than 1 year 4.75 4.75
1 year to 15 months 7.15 7.65
Above 15 months to 2 years 7.00 7.50
Above 2 years to 3 years 7.10 7.60
Above 3 years to 5 years 6.00 6.50
Above 5 years 6.75 7.25
Flexi Fixed Deposit Current Account (FFDCA) 29 days 3.50
Flexi Fixed Deposit Saving Account (FFDSB) 90 days 4.00
Bharat Deposit Tax Benefit Scheme – 5 years 6.75

*No additional rate of interest applicable to Senior Citizens for deposits under NRO category

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Comparison of Top 20 Scheduled Banks based on FD Rates


Banks		Highest
FD rate
(% p.a.)		1-year
FD rate
(% p.a.)		3-year
FD rate
(% p.a.)		5-year
FD rate
(% p.a.)		Additional
interest rate
for senior citizens
(% p.a.)
Unity Small Finance Bank9.007.858.158.150.50
North East Small Finance Bank9.007.009.006.250.50
Suryoday Small Finance Bank8.656.858.608.250.24-0.50
Shivalik Small Finance Bank8.556.007.506.500.50
Equitas Small Finance Bank8.508.208.007.250.50
Utkarsh Small Finance Bank8.508.008.507.750.60
Jana Small Finance Bank8.258.258.257.250.50
Ujjivan Small Finance Bank8.258.257.207.200.50
ESAF Small Finance Bank8.256.006.756.250.50
SBM Bank8.257.057.307.750.50
RBL Bank8.107.507.507.100.50
DCB Bank8.057.107.557.400.50
Bandhan Bank8.058.057.255.850.50-0.75
AU Small Finance Bank8.007.257.507.250.50
YES Bank8.007.257.257.250.50-0.75
Induslnd Bank7.997.757.257.250.50
IDFC First Bank7.756.507.006.750.50
Central Bank of India7.457.006.005.750.50
HDFC Bank7.406.607.007.000.50
Union Bank of India7.406.806.706.500.50

The rates are updated as of 1st May 2024

Types of Bharat Bank Fixed Deposit

Bharat Bank Regular Fixed Deposit

  • The Bharat Bank Regular Fixed Deposit scheme comes with minimum investments of Rs 1,000.
  • Interest payable on maturity as per the depositor’s choice.
  • Auto renewal facility available (both with and without interest).
  • Loan/overdraft facility available against fixed deposits of up to 95% of the FD amount
  • Premature withdrawal facility available, on payment of the applicable penalty, subject to the terms and conditions.
  • Tenor: 7 to 364 days

Bharat Bank Cumulative Fixed Deposit

  •  The Bharat Bank Cumulative Fixed Deposit scheme comes with minimum investments of Rs 1,000 and reinvestment option for minimum 1 year
  • The interest earned on the cumulative deposit is compounded quarterly and reinvested with the principal.
  • Auto renewal facility available (both with and without interest).
  • Loan/overdraft facility available against fixed deposits of up to 95% of the FD amount
  • Premature withdrawal facility available, on payment of the applicable penalty, subject to the terms and conditions.
  • Tenor: 1 to 10 years
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Bharat Bank Monthly/Quarterly Interest Payout Fixed Deposit

  • The Bharat Bank Monthly/Quarterly Interest Payout Fixed Deposit scheme comes with a minimum investment period of 1 year and is apt for depositors looking for monthly/quarterly payouts.
  • Interest payable on monthly/quarterly basis
  • Auto renewal facility available (both with and without interest).
  • Loan facility available against fixed deposits for up to 95% of the FD amount
  • Individuals, minors, regd. cooperative societies, registered public trusts or HUFs (Hindu Undivided Family) can open these accounts.
  • Tenor: 1 to 10 years (or any other period as decided by the lender)

Bharat Bank Tax Benefit Fixed Deposit

  • The Bharat Bank Tax Benefit Fixed Deposit scheme is eligible for deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act, 1961.
  • Minimum deposit amount: Rs 100 with further investments in multiples thereof
  • Maximum deposit amount: Rs 1.5 lakh
  • Interest accrued to be paid at quarterly rests at the end of March, June, September & December or at maturity. The Bank may also pay monthly interest at a discount.
  • Interest accrued on deposits can also be ploughed back into principal (compounded) at quarterly rests and paid on maturity.
  • No auto renewal at maturity
  • Tenor: 5 years (lock-in)
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Bharat Bank Daily Deposit

  • The Bharat Bank Daily Deposit scheme involved door step service for the collection of deposits on a daily basis as per the depositor’s convenience.
  • Minimum amount: Rs 25 with further investments in multiples thereof and no maximum limit
  • Interest accrued to be paid at quarterly rests at the end of March, June, September & December or at maturity. The Bank may also pay monthly interest at a discount.
  • Loan facility available against fixed deposits for up to 75% of available balance amount

Bharat Bank Suvidha Deposit

  • The Bharat Bank Suvidha Deposit scheme provides FD with cheque book facility
  • Overdraft facility available for up to 90% of the deposit amount with the entire deposit remaining intact and earning a normal rate of interest.
  • Interest payable on monthly/quarterly basis
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Bharat Bank Flexi Fixed Deposits Savings Bank Account (FFDSB)

  • The Bharat Bank Flexi Fixed Deposits Savings Bank Account (FFDSB) has the benefits of both savings/current account and fixed deposit account. It facilitates an automatic money transfer to a fixed deposit when the balance in savings/current account crosses a specified limit. It also provides a reverse transfer facility from your FD account to your savings/current account when there is a requirement for money.
  • Minimum balance requirement: Rs 25,000
  • Sweep out to FD if the balance exceeds Rs 50,000
  • Convert to FD in multiples of Rs 10,000
  • Maximum FD amount per sweep: Rs 5 lakh
  • Tenor: 90 days
  • Additional facilities include free Cheque book/NEFT/RTGS facility, free DD/PO, Visa/Rupay card (with switch on and off option for safety purpose) and 5 ATM transactions (both financial & non-financial) on other bank ATMs

 

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