• Fixed Deposit
  • Bandhan Bank
  • Bandhan Bank Fixed Deposit
Bandhan Bank Fixed Deposit

Bandhan Bank Fixed Deposit

PrivateAAA 
Shield CheckDICGC

7.25%

Interest for 3 years

Bandhan Bank FD Interest Rates 2024

TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 30 days3%3.75%
1 month - 1 month 28 days3.5%4.25%
1 month 29 days - 11 months 29 days4.5%5.25%
1 year - 1 year7.85%8.35%
1 year 1 day - 4 years 11 months 28 days7.25%7.75%
4 years 11 months 29 days - 9 years 11 months 28 days5.85%6.6%

Note: All interest rates shown above are as on 7th May 2024

About Bandhan Bank FD

Bandhan bank was incorporated in December 2014 but commenced operations in August 2015. The bank offers group-based individual lending services for the microfinance business. In 2019, Bandhan Bank acquired Gruh intending to diversify operations both geographically and across asset classes. The bank has its headquarters in Kolkata. As of March 2022, Bandhan bank has 1,189 branches, 4,450 banking units and 471 ATMs in 34 States and Union Territories in India. The total deposits as of March 2022 stood at INR 96,330.62 crores. Bandhan Bank’s Fixed Deposits have an AAA Credit Rating.

Bandhan Bank FD

3% - 7.85%

FD Rate

3.75% - 8.35%

FD Rate for Seniors

₹ 1000

Minimum Deposit

₹ 2 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

AAA

CRISIL Rating

Bandhan Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 7.25%For 5 years with interest of 5.85%
₹ 50,000 ₹ 62,108₹ 66,941
₹ 1 lakh ₹ 1,24,215₹ 1,33,882
₹ 2 lakh ₹ 2,48,430₹ 2,67,764
₹ 5 lakh ₹ 6,21,076₹ 6,69,410
₹ 10 lakh ₹ 12,42,152₹ 13,38,821

Compare Bandhan Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
Uttarbanga Kshetriya Gramin Bank FD
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Bandhan Bank FD
Bandhan Bank FD
Maturity Amount 1,08,139 1,05,326
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained8,139 5,326

Compare Bandhan Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Uttarbanga Kshetriya Gramin Bank FD
5.2% - 5.2%
Kotak Mahindra Bank FD
7% - 7.6%
Paschim Banga Gramin Bank FD
5.3% - 5.8%
Indian Overseas Bank FD
6.5% - 7%
HDFC Ltd FD
7.35% - 7.6%
Jharkhand Rajya Gramin Bank FD
6.5% - 6.75%
Andhra Pragathi Grameena Bank FD
7% - 7.6%
Rajasthan Marudhara Gramin Bank FD
7.1% - 7.6%
Arunachal Pradesh Rural Bank FD
6.25% - 6.75%
State Bank of India FD
6.75% - 7.25%

Calculate Bandhan Bank FD Returns

1,00,000

Total Investment

8,139

Wealth Gained

1,08,139

Maturity Amount

Explore Debt Funds, instead!

The flexible & tax efficient alternative to FDs.

Bandhan Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on Bandhan Bank FDs is higher in their savings account. One can invest in Bandhan Bank FDs through both online and offline modes with just a minimum investment of INR 1,000. This article covers Bandhan Bank FD, its features and interest rates in detail.

Bandhan Bank Fixed deposit schemes

Following are the Bandhan Bank Fixed Deposit schemes:

  • Premium Fixed Deposit
  • Standard Fixed Deposit
  • Tax Saver Fixed Deposit
  • Advantage Fixed Deposit
  • Dhan Samriddhi Fixed Deposit
  • Super Saver Fixed Deposit

1. Bandhan Bank Premium Fixed Deposit

Premium Fixed Deposits offer preferential interest rates to high-value depositors. Also, depositors can avail loan or overdraft or can foreclose the deposit in case of emergencies.

  • Deposit Tenure: Ranges between 7 days to 10 years
  • Deposit Amount: Minimum deposit INR 2 crore and above

2. Bandhan Bank Standard Fixed Deposit

An individual can invest their idle savings in the Standard Fixed Deposit and meet their goals faster. The scheme offers better interest rates than the savings account. It also provides a loan and overdraft facility in case of emergencies against the deposit amount.

  • Investment: Short term or long term
  • Deposit Tenure: Ranges between 7 days to 10 years
  • Deposit Amount: Minimum deposit INR 1,000 and in multiples of Re 1 thereafter
  • Interest payout: Monthly or quarterly payouts

The scheme allows partial withdrawal or premature closure and also has an automatic renewal facility. Additionally, the bank issues TDS certificates as per the Income Tax Act.

3. Bandhan Bank Tax Saver Fixed Deposit

Depositors can park their savings into the Tax Saver fixed deposit and enjoy dual benefits – high interest rates and tax benefits. Deposits up to INR 1,50,000 into this fixed deposit qualify for tax deduction under Section 80C of the Income Tax Act.

  • Lock-in period: 5 years to 10 years
  • Minimum Deposit Amount: INR 1,000
  • Maximum Deposit Amount: INR 1,50,0000

The deposit scheme has a lock-in period, and hence one can’t close prematurely or withdraw the deposit amount.

4. Bandhan Bank Advantage Fixed Deposit

The Advantage Fixed Deposit gives depositors the advantage of compounding interest. One can realise their goals and dreams faster. Depositors can avail loan and overdraft facility against their deposit amount. Also, the scheme allows partial withdrawal or premature closure in case of emergencies. Furthermore, there is an option for the auto-renewal of the deposits. The bank also issued a TDS certificate as per the Income Tax Act.

  • Deposit Tenure: Ranges between 6 months to 10 years
  • Deposit Amount: Minimum deposit INR 1,000 and in multiples of Re 1 thereafter

5. Bandhan Bank Dhan Samriddhi Fixed Deposit

The scheme offers faster growth in the shortest time. The deposit amount grows faster with compound interest being reinvested into the scheme. This fixed deposit is a growth-oriented scheme that helps in meeting financial goals such as marriage, education, travel, etc., in the shortest time. Depositors can open a single or joint account. Also, the fixed deposit offers a loan or overdraft facility and auto-renewal facility. Furthermore, the bank issues TDS certificates as per the Income Tax Act.

  • Deposit Tenure: Ranges between 6 months to 10 years
  • Deposit Amount: Minimum deposit INR 5,000

6. Bandhan Bank Super Saver Fixed Deposit

It is a daily deposit scheme, especially for daily wage earners, small traders and shopkeepers. The motive of the deposit scheme is to create the habit of saving and making provisions for large capital requirements. Once the savings reach a specified threshold, funds get transferred to a Fixed Deposit for a fixed tenure.

  • Deposit Tenure: 1 year
  • Minimum Deposit Amount: INR 10
  • Maximum Deposit Amount: INR 8,000 through handheld devices.
  • The bank arranges for daily doorstep collection.
  • Loan: Depositors can avail micro bazaar loans for their working capital requirements.

Key Features of Bandhan Bank Fixed Deposit Schemes

  • Tenure: The tenure of a Bandhan Bank FD ranges from seven days to ten years. Also, one cannot change the tenure of their Bandhan Bank FD once it has commenced.
  • Minimum and maximum investment: The minimum investment in Bandhan Bank FD is INR 1,000. The minimum investment for each type of Bandhan Bank FD is different. However, there is no limit on the maximum amount of investment except for tax saving FD, which is INR 1,50,000.
  • Bandhan Bank FD rates: Bandhan Bank FD rates range between 3% and 6% for regular citizens and between 3.75% and 6.75% for senior citizens. Moreover, Bandhan Bank offers an additional 0.75% interest to senior citizens on their FDs. Bandhan Bank pays interest every quarter on June 30th, September 30th, December 31st, and March 31st.
  • Premature withdrawal: All Bandhan Bank FDs can be withdrawn prematurely except for the tax-saving FD. The bank charges a penalty if the deposits are withdrawn before the completion of FD tenure. The penalty is as per the terms and conditions of Bandhan Bank.
  • Loan against FD: Bandhan Bank offers loans against their FDs. Investors can get up to 90% of the deposit amount as a loan against their Bandhan Bank FD investment. Also, the interest rate for the loan will be 1.5%-2% above the FD interest rate. Moreover, the tenure of the loan is limited to the tenure of the Bandhan Bank FD.
  • Nomination facility: Bandhan Bank FD investors can nominate beneficiaries for their FDs.
  • Auto-renewal: Investors can opt for auto-renewal of their Bandhan Bank FDs.
  • Safety: The Deposit Insurance Scheme of RBI covers all Bandhan Bank deposits. The scheme covers all Bandhan Bank deposits up to INR 5,00,000.
  • Additional payments: Investors cannot deposit an additional amount in a Bandhan Bank FD once it has commenced. However, they can open a fresh Bandhan Bank FD with the new amount.

How to Open a Bandhan Bank FD Deposit Account?

One can open a Bandhan Bank FD account through various modes such as Internet Banking, Mobile App and offline.

Internet Banking

The following steps will help an individual to open a Bandhan Bank FD account through internet banking:

  • Login to the Bandhan Bank NetBanking account.
  • In the main menu, select the ‘Fixed Deposit’ option and choose the type of FD.
  • Provide all the necessary information, nominee information and maturity instructions.
  • Click on ‘Submit’ to complete the deposit opening process.

Through Mobile App

Bandhan Bank App

The following steps will guide in opening an FD account through Bandhan Bank Mobile App:

  • Download the Bandhan Bank App and log in.
  • Under the ‘Fixed Deposit’ option, select the type of FD.
  • Provide all the necessary information, nominee information and maturity instructions.
  • Click on ‘Submit’ to complete the deposit opening process.

Offline Bandhan Bank FD Opening

To open a Bandhan Bank FD account offline, one has to visit the nearest Bandhan Bank branch. Fill the Bandhan Bank FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, Bandhan bank will provide an FD receipt.

Documents Required to Open a Bandhan Bank FD

To invest in Bandhan Bank FDs, one would require the following documents:

  • Passport size photos
  • PAN Card
  • Address proof (Aadhar Card, Voter ID, Passport, electricity bill etc.)
  • Identity proof (Aadhar Card, Pan Card, Driver’s license)
  • Form 15H or Form 15G.

Eligibility to Open a Bandhan Bank FD

The following are eligible to open a Bandhan Bank FD:

  • Resident individuals
  • Minors
  • NRIs
  • HUFs
  • Partnership firms

Does Bandhan Bank Offer Recurring Deposits?

Bandhan Bank offers recurring deposits to its depositors. Bandhan Bank recurring deposits have a minimum tenure of six months and a maximum tenure of 5 years. Depositors can open an RD account either by going to the Bandhan Bank branch or online using internet banking. The interest rate for regular citizens on Bandhan Bank RDs is in the range of 5.4% to 6.75%, and for senior citizens, it is in the range of 6.15% to 7.5%.

Is FD Interest Taxable?

Only investment in Bandhan Bank Tax Saving FD qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other Bandhan Bank FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from Bandhan Bank FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from Bandhan Bank FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the Bandhan Bank, then the TDS rate will be 20%.

Explore Fixed Deposits By Banks

Frequently Asked Questions

What is the highest Bandhan Bank FD rate today?

The highest Bandhan Bank FD rates for general citizens is 7.85% p.a. and 8.35% p.a. for senior citizens.

What is the highest interest rate on Bandhan Bank 1 year FD scheme?

The highest interest rate on Bandhan Bank 1 year FD scheme is 7.85% p.a.

What is Bandhan Bank FD scheme interest rate for 5 years?

5.85% p.a is the interest rate for 5 years on Bandhan Bank FD scheme.

How many years FD will double in Bandhan Bank?

To know in how many years Bandhan Bank Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years Bandhan Bank Bank FD will double. The current highest Bandhan Bank FD interest rate is 7.85% so investors will double the investment in 9.17 years. Similarly, senior citizen depositors will double their FD investment in 8.62 years, where the highest FD rate for senior citizens is 8.35%.

What is Bandhan Bank FD minimum deposit amount?

The minimum investment in Bandhan Bank FD is INR 1,000. However, there is no limit on the maximum amount of investment in Bandhan Bank FD.

What is senior citizen fixed deposit interest rates in Bandhan Bank?

The senior citizen fixed deposit interest rates in Bandhan Bank range between 3.75% to 8.35% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in Bandhan Bank?

Bandhan Bank FD tenure ranges from 7 days to 9 years 11 months 28 days

What is Bandhan Bank FD ROI for 10 lakh deposit for 1 year?

The interest from the Bandhan Bank FD calculator for 10 lakh deposit for 1 year will be INR 81,387. The maturity value will be INR 10,81,387. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.

How to check the fixed deposit balance in Bandhan Bank?

You can check Bandhan Bank FD balance either online or offline mode. For online mode, log in to the Bandhan Bank internet banking portal. Alternatively, you can visit the nearest Bandhan Bank bank to update your passbook for FD balance enquiry.

How many FDs can be opened in Bandhan Bank?

There is no restriction on the number of FDs you can open with Bandhan Bank.