Bangiya Gramin Vikash Bank FD Rates

A Fixed Deposit or FD can pay higher interest rates than the usual savings account. A fixed deposit plan can conveniently secure future goals for customers looking for reasonable interest rates and are interested in depositing a lump sum.
Bangiya Gramin Vikash Bank is sponsored by PNB and was formed under the RRB act (Regional Rural Bank act) of 1976. The Bank is owned by the Indian Government and the Government of Bengal.

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Features of Bangiya Gramin Vikash Bank Fixed Deposit

The bank includes several features and easy accessibility to make the deposit process simple. Some of the features are:

  • To open a fixed deposit hassle-free, the bank provides both online and offline facilities. Senior citizens can avail of the service without visiting the bank.
  • The bank allows the customer to choose from a wide range of tenures and interest rates.
  • Different payout options are available like half-yearly, yearly, quarterly and monthly.
  • There’s no limitation to the maximum amount for the fixed deposit. 
  • Special benefits to senior citizens in comparison to regular customers. 
  • Customers can also use the nomination facility.
  • Up to 85% of loans can be taken against the FD.
  • Customers can anytime apply for auto-renewal of their deposit.
  • Being a government bank, the customer can rely on a safe and secure deposit.

There are no restrictions in terms of the eligibility criteria for opening an FD. Anybody can open a fixed deposit, including minor, Hindu joint family, companies, partnership firms, trusts, and NRIs.

Bangiya Gramin Vikash Bank Fixed Deposit Rates 2021

Below mentioned are the current interest rates:

Period of Deposit

Interest rates(Regular citizens)

Interest rates(Senior citizens)

7 to 14 days

4.00

4.00

15 to 29 days

4.00

4.00

30 to 45 days

4.00

4.00

46 to 90 days

4.50

4.50

91 to 180 days

5.00

5.00

181 to 269 days

5.75

5.75

270 to less than 1 year

6.00

6.00

1 year

6.50

6.75

Above 1 year to less than 3 years

6.25

6.75

3 years

6.00

6.50

Things to Know 

Some of the crucial things to know about the bank’s fixed deposit schemes are:

  • Bangiya Gramin Vikash Bank Fixed deposit rates are suitable and apt for anyone seeking to deposit their savings as FD. 
  • The bank offers a range of tenures and interest rates for the customers to select. It depends upon the amount and the tenure from which the interest rates can be calculated. 
  • Bangiya Gramin Vikash Bank provides this facility without too many formalities. Once the customer applies for the FD, a lump sum is paid at the time of deposit. 
  • In the period of the selected tenure, which ranges from 7 days to 10 years, the interest rate is added to the deposit.

Summing it Up

It is important to consider specific points before opening a fixed deposit. The customers have to go through the tenures and the interest rates properly before deciding on the plan. Bangiya Gramin Vikash bank offers tenure from 7 days to 10 years.

The customers can also choose to avoid TDS by submitting a 15H form by showing their nontaxable annual income. After the fixed deposit is opened, it is essential to let the bank know about the action after maturity. If no instruction is given, the bank will auto-renew the FD.

Written By: PolicyBazaar - Updated: 26 August 2021
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