Latest news with #BandhanBank
Mint
26-05-2025
- Business
- Mint
Bandhan Bank ‘Suraksha' home loan: Eligibility, documents and application process
Bandhan bank's 'Suraksha' home loan provides borrowers with a streamlined financing option for selecting, purchasing, constructing or even extending their homes. With loan amounts covering up to 90% of the entire property's cost along with flexible and easier repayment options, this particular loan product caters to a broad spectrum of borrowers. Here is a step by step guide for aspirational home loan borrowers to secure the 'Suraksha' home loan provided by the Bandhan bank along with the applicable interest rates, documents required and other essential details: Eligibility criteria: The first essential step in applying for the 'Suraksha' home loan is to check your eligibility. Applicants must be between 21 and 75 years at loan maturity. Further, a stable source of income and a formal income source is mandatory to apply for this loan. Document preparation: Gather all necessary documents such as complete home loan application form with a recent passport size photograph, valid identity document and address proof as per the KYC norms. Then you should also have age proof, income proof (salary slips, most recent ITR etc.) and last six months bank statements. Along with the above, clear details of any existing debts or loans. Calculate the loan requirements: Carefully determine the total loan amount needed. This must be done keeping in mind that Bandhan Bank finances up to 90% of the property's cost, including both land and construction. For more clarity on this refer to the official website of Bandhan Bank and discuss your concerns with a dedicated customer support executive. Submission of the complete application: Once you are done with the collection of basic documents and are clear about the required eligibility criteria for the loan. Then you should visit the nearest Bandhan Bank branch or apply online through the official website. Submit the properly completed application form along with the required documents. Await for approval and disbursement: Once your properly filled application form is submitted you will be given an acknowledgement by the bank. Post the same you must wait for a few days according to the policies of the bank. The bank will in stipulated time communicate the loan application status. Once cleared the loan amount will be disbursed as per the agreed terms and conditions. Loan coverage : Up to 90% of the total cost of the property is covered under this loan. For individual case to case basis refer to the designated customer service team. : Up to 90% of the total cost of the property is covered under this loan. For individual case to case basis refer to the designated customer service team. Interest rates : Floating rates ranging from 8.66% to 12.83%, determined by the applicant's credit score, past payment history and earlier defaults etc. : Floating rates ranging from 8.66% to 12.83%, determined by the applicant's credit score, past payment history and earlier defaults etc. Tenure : The bank provides for a flexible repayment period from 1 to 30 years. This tenure and the corresponding interest rates applicable on a case to case basis will be evaluated by the bank as per the submissions made in the home loan application. : The bank provides for a flexible repayment period from 1 to 30 years. This tenure and the corresponding interest rates applicable on a case to case basis will be evaluated by the bank as per the submissions made in the home loan application. Purpose: This particular home loan product is developed for purchasing, constructing or extension of residential properties. Note: The floating rates discussed above are illustrative only. For updated terms and conditions refer to the official website of the bank. Furthermore, for any more details, clarifications about the application process along with the applicable interest rates visit the official website of Bandhan Bank. You can also discuss your problems and doubts on an individual basis with a customer service executive of the bank by visiting in person before submitting your home loan application to make the experience seamless. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Loan terms, interest rates, and eligibility criteria are subject to change at the sole discretion of Bandhan Bank. Readers are advised to verify the latest details by visiting the official Bandhan Bank website.
Time of India
16-05-2025
- Time of India
2 cyber criminals held in Giridih
Bokaro: Two cyber criminals were arrested from Gandey police station limits after information about them was received through the Pratibimb Portal, Giridih police said on Friday. Giridih SP Bimal Kumar said Rafaul Ansari and Mohammad Sameer Ansari, both residents of Pandanatad in Gandey, were arrested near Beragi Railway Bridge during an operation under Bengabad police station limits. "Seven mobile phones, 11 SIM cards, three ATM cards, and several PAN cards were found from their possession," Kumar said. The SP said that during questioning, Rafaul and Sameer disclosed that they deceived their victims by offering KYC update assistance over telephone calls and stole from their bank accounts. They also confessed to distributing fraudulent APK files claiming to be from Airtel Payments Bank and Bandhan Bank. Cyber DSP Abid Khan, who headed the team which nabbed the duo, said, "The criminals had been active in numerous states. They face 16 cyber fraud cases across Uttar Pradesh, Bihar, Punjab, Chhattisgarh, Madhya Pradesh, Delhi, and other regions."
Business Mayor
11-05-2025
- Business
- Business Mayor
FD interest rate up to 8.25% for senior citizens investing for one year tenure
Despite interest rates witnessing a wave of reductions there are still many banks who are offering a high rate of interest of up to 8.25% on Fixed Deposits (FDs). These rates are offered on FDs worth less than Rs 3 crore and for one year tenure for senior citizens. This short-term tenure along with high interest rate makes a great combo for senior citizens who have idle money and want to earn some interest off it. Moreover, from April 1, 2025 senior citizens can enjoy a higher threshold for TDS deduction on FD interest. Senior citizen Bank FD interest rate for one year tenure Senior citizen FD rate up to 8.25% Bandhan Bank is offering up to 8.25%% interest rate on FDs for one year tenure for senior citizens. Senior citizen FD rate up to 8% IndusInd Bank is offering up to 8% interest rate on FDs for one year tenure for senior citizens. RBL Bank is offering up to 8% interest rate on FDs for one year tenure for senior citizens. Bank Interest rate Bandhan Bank 8.25% IndusInd Bank 8% RBL Bank 8% Tamilnad Mercantile Bank 7.75% Source: as on May 7, 2025 Senior citizen FD rate up to 7.75% Tamilnad Mercantile Bank is offering up to 7.75% interest rate on FDs for one year tenure for senior citizens. Higher TDS threshold for senior citizen investing in FDs While presenting the Budget 2025, tThe finance minister has stated that TDS rates will be rationalised in the Budget 2025 giving much needed relief to taxpayers. The limit for tax deduction at source (TDS) on interest for senior citizens has been being doubled from the present Rs 50,000 to Rs 1 lakh. So this means if your interest amount in a particular bank's FD is less than Rs 1 lakh, the respective bank will not deduct any TDS. Read More Tax relief for cash Isa savers rose to £2.1bn last year Moreover, even if the interest amount is more than Rs 1 lakh but your total income after all deductions is less than Rs 12 lakh then you can submit Form 15H and by doing this the bank will not deduct TDS even if the interest is over Rs 1 lakh for FY 2025-26 (AY 2026-27). Form 15H is a self-declaration form that senior citizens (60 years & above) can submit to avoid TDS on income, provided their total net tax liability is zero. Do note that the TDS deducted by banks can very well be claimed at the time of ITR filing, so it's not like any extra tax, but it's like an additional tax compliance process to follow. Chartered Accountant Ashish Karundia says: 'Form 15H offers a valuable opportunity for senior citizen taxpayers to receive specified income from the payer without any tax deduction, up to Rs 12 lakh under the new tax regime, as the tax payable would-be Nil after considering the Section 87A rebate. Essentially, if eligible for TDS exemption, there's no need to let tax be deducted and then claim a refund. Additionally, timely submission of Form 15H ensures better liquidity in the hands of senior citizens.' READ SOURCE
Time of India
06-05-2025
- Business
- Time of India
ICICI Securities downgrades Bandhan Bank to Add, target price Rs 185
Financials Bandhan Bank reported muted Q4FY25 PAT of Rs 3.2 billion (RoA of 0.7%). Loan growth was slower, at 4% QoQ (10% YoY), while NIM continued its moderating trajectory (down 20bps QoQ to 6.7%) as growth remained driven by secured loans. Slippages inched up QoQ but were broadly in line at ~5.1% QoQ (vs. 4.9% QoQ). SMA 0+1+2 improved to 3.3% vs. 3.8% QoQ. However, SMA0 in West Bengal (WB) flared up to 2.3% (vs. 0.9%) due to localised issues and bunched-up holidays, though this has been partly rolled-back as on date, as per management. Exposure to Karnataka and Tamil Nadu is limited at ~1% each of the EEB book. The bank believes that credit costs have peaked, though should remain elevated in H1FY26 with improvement in H2FY26. Despite building in ~14?15% YoY growth, PPOP growth is likely to be muted for FY26? 27E due to pressure on NIM (unfavorable loan mix change) and opex growth outpacing loan growth. Investment Rationale Post the risk-weight rollback by RBI, Tier-1 at Bandhan Bank has jumped to 17.9%, suggesting a strong capital buffer. ICICI Securities appreciates management's strategy of focusing on secured products to drive growth and structurally reducing embedded risk in the business. While the bank seems well placed on the interest rate cycle with ~55% higher share of fixed rate loans and ~30% share of wholesale TD. However, continued loan mix change in favour of secured loans (~1,000bps differential) would continue to weigh on NIM; down ~30bps YoY in FY26, in our estimate. Bandhan Bank shall remain in investment phase with rising opex to assets ratio; thus leaving credit costs as the only lever for RoA (likely to play out in H2FY26). The stock trades at an inexpensive at ~1x/0.9x FY26E/FY27E ABV with stable ~1.5% RoA. The target price of Rs 185 (~1x FY27E ABV) is unchanged. Basis the current upside, I-Sec has revise Bandhan Bank?s rating to ADD (vs. Buy). Key risk is higher-than-estimated stress impacting profitability.. Live Events Promoter/FII Holdings Promoters held 39.98 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.73 per cent, DIIs 16.36 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has downgraded Bandhan Bank to Add from Buy with a target price of Rs 185. The current market price of Bandhan Bank is Rs 163.95 .Bandhan Bank reported muted Q4FY25 PAT of Rs 3.2 billion (RoA of 0.7%). Loan growth was slower, at 4% QoQ (10% YoY), while NIM continued its moderating trajectory (down 20bps QoQ to 6.7%) as growth remained driven by secured loans. Slippages inched up QoQ but were broadly in line at ~5.1% QoQ (vs. 4.9% QoQ). SMA 0+1+2 improved to 3.3% vs. 3.8% QoQ. However, SMA0 in West Bengal (WB) flared up to 2.3% (vs. 0.9%) due to localised issues and bunched-up holidays, though this has been partly rolled-back as on date, as per management. Exposure to Karnataka and Tamil Nadu is limited at ~1% each of the EEB book. The bank believes that credit costs have peaked, though should remain elevated in H1FY26 with improvement in H2FY26. Despite building in ~14?15% YoY growth, PPOP growth is likely to be muted for FY26? 27E due to pressure on NIM (unfavorable loan mix change) and opex growth outpacing loan the risk-weight rollback by RBI, Tier-1 at Bandhan Bank has jumped to 17.9%, suggesting a strong capital buffer. ICICI Securities appreciates management's strategy of focusing on secured products to drive growth and structurally reducing embedded risk in the business. While the bank seems well placed on the interest rate cycle with ~55% higher share of fixed rate loans and ~30% share of wholesale TD. However, continued loan mix change in favour of secured loans (~1,000bps differential) would continue to weigh on NIM; down ~30bps YoY in FY26, in our estimate. Bandhan Bank shall remain in investment phase with rising opex to assets ratio; thus leaving credit costs as the only lever for RoA (likely to play out in H2FY26). The stock trades at an inexpensive at ~1x/0.9x FY26E/FY27E ABV with stable ~1.5% RoA. The target price of Rs 185 (~1x FY27E ABV) is unchanged. Basis the current upside, I-Sec has revise Bandhan Bank?s rating to ADD (vs. Buy). Key risk is higher-than-estimated stress impacting held 39.98 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.73 per cent, DIIs 16.36 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
News18
03-05-2025
- Business
- News18
PNB Cuts FD Interest Rates For Second Time; Bandhan Bank Revises Fixed Deposit Rates
Last Updated: The latest FD interest rate revisions, effective May 1, 2025, reflects a rate cut of up to 25 basis points (bps) on select short- and medium-term tenures. Punjab National Bank (PNB) has once again revised its fixed deposit (FD) interest rates for retail deposits below Rs 3 crore, just weeks after making similar changes in April 2025. The latest revision, effective May 1, 2025, reflects a rate cut of up to 25 basis points (bps) on select short- and medium-term tenures. PNB FD Rate Cuts: What's Changed? After the latest revision, PNB now offers FD interest rates ranging from 3.50 per cent to 7.10 per cent for general citizens across maturities between 7 days and 10 years. The highest rate of 7.10 per cent is available on a 390-day deposit. PNB continues to offer preferential rates for elderly customers: Senior Citizens (between the age of 60 to 80 years) will receive an extra 50 bps for deposits up to 5 years, and an extra 80 bps for deposits beyond 5 years. The effective interest rate will be 4.00 per cent to 7.60 per cent. Super Senior Citizens (80 years & above) will also receive an additional 80 bps across all maturities. The effective interest rate will be 4.30 per cent to 7.90 per cent. Note: Rates effective from 01.05.2025. Senior Citizens are those aged 60+. Super Senior Citizens are those aged 80+. Bandhan Bank Also Revises FD Rates Bandhan Bank has also announced a revision in FD interest rates for amounts below Rs 3 crore, effective May 1, 2025. For General Citizens: Interest rates now range from 3% to 7.75%, with the highest rate offered on a one-year tenure. For Senior Citizens: Rates range from 3.75% to 8.25%, also peaking on the 1-year deposit. Last month, the Reserve Bank of India cut the key repo rate by 25 basis points to 6 per cent, for the second time in a row. The central bank is expected to reduce the interest rates in the future monetary policies also as it has adopted 'accommodative' stance from 'neutral' earlier. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : Bandhan Bank FD interest rates pnb Punjab National Bank (PNB) Location : New Delhi, India, India First Published: May 03, 2025, 13:49 IST News business » savings-and-investments PNB Cuts FD Interest Rates For Second Time; Bandhan Bank Revises Fixed Deposit Rates
