Bandhan Bank Fixed Deposit

Private

AAA

DICGC

5.25%

Interest for 3 years

Bandhan Bank FD Interest Rates Sep 2021

Note: All interest rates shown below are as on 22nd Jun 2021

Historical FD Rates →
TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 1 month3%3.75%
1 month 1 day - 5 months 26 days3.5%4.25%
5 months 27 days - 11 months 30 days4.5%5.25%
1 year - 2 years 11 months 29 days5.5%6.25%
2 years 11 months 30 days - 4 years 11 months 29 days5.25%6%
4 years 11 months 30 days - 9 years 11 months 29 days5%5.75%

About Bandhan Bank Fixed Deposit

Bandhan Bank is focussed on serving the unbanked and underbanked population of India. It offers world-class banking solutions and financial services in the form of asset and liability products and services. It offers regular banking services, microfinance, MSME, and affordable housing finance to urban, semi-urban and rural customers. Bandhan Bank started in 2001 as a not-for-profit enterprise that stood for financial inclusion and women empowerment through sustainable livelihood creation. It turned into a non-banking financial company (NBFC) a few years later. The bank has a balance sheet size of Rs. 91700 Crs as on 31st March 2020 The bank recorded a profit of Rs 3000 Crs in FY20

3% - 5.5%

FD Rate

3.75% - 6.25%

FD Rate for Seniors

-

Minimum Deposit

₹ 2 Crores

Maximum Deposit

0 days

Lock-in

-

FD Tenure

-

Loan against FD

AAA

CRISIL Rating

Fixed Deposits

Flexible tenure & partial withdrawal facility, without the hassle of opening a savings account.

Bandhan Bank Fixed Deposit Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 5.25%For 5 years with interest of 5%
₹ 50,000₹64972₹64168
₹ 1 lakh₹129943₹128336
₹ 2 lakh₹259886₹256672
₹ 5 lakh₹649716₹641679
₹ 10 lakh₹1299432₹1283359

Compare Bandhan Bank Fixed Deposit Returns with Top Banks

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

vs

Pre Tax

Post Tax

Tax Rate
Maturity Amount₹105641₹ 101764
Total Investment Amount₹ 100000₹ 100000
Total Interest Gained₹5641

₹5641

₹ 1764
Income Tax on Wealth Gained₹ 12898₹ 13092

Compare Bandhan Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Dhanlaxmi Bank
5.4% - 5.9%
Tamilnad Mercantile Bank
5.5% - 5.5%
IDBI Bank
5.3% - 5.8%
Bank of India
5.15% - 5.65%
Sundaram Finance
6.25% - 6.75%
AU Small Finance Bank
6.25% - 6.75%
Canara Bank
5.5% - 6%
Axis Bank
5.4% - 5.9%
Mahindra Finance
6.3% - 6.55%
PNB Housing Finance Ltd
6.6% - 6.85%
IDFC First Bank
5.75% - 6.25%
State Bank of India
5.3% - 5.8%
HDFC Bank
5.15% - 5.65%
Bank of Baroda
5.1% - 5.6%
LIC Housing Finance
5.75% - 6%
Tamil Nadu Power Finance
7.75% - 8.25%
Jammu & Kashmir Bank
5.3% - 5.8%
Bajaj Finance
6.5% - 6.75%
Yes Bank
6.25% - 7%
RBL Bank
6.3% - 6.8%
Punjab and Sind Bank
5.3% - 5.8%
Kotak Mahindra Bank
5.1% - 5.6%
IndusInd Bank
6% - 6.5%
Central Bank of India
5% - 5%
DCB Bank
6.5% - 7%
Fincare Small Finance Bank
6.25% - 6.75%
DBS Bank
5.5% - 5.5%
Indian Overseas Bank
5.2% - 5.7%
Karur Vysya Bank
5.5% - 6%
Equitas Small Finance Bank
6.35% - 6.85%
City Union Bank
5.5% - 6%
SCB Bank
5.35% - 5.85%
Karnataka Bank
5.5% - 5.9%
South Indian Bank
5.5% - 6%
HDFC Ltd Fixed Deposit
6.05% - 6.3%
Bank of Maharashtra
4.9% - 5.4%
ICICI Housing Finance Company
6.05% - 6.3%
ESAF Small Finance Bank
5.75% - 6.25%
Indian Bank
5.15% - 5.65%
Shriram Finance
8% - 8.4%
Federal Bank
5.35% - 5.85%
ICICI Bank
5.15% - 5.65%
Ujjivan Small Finance Bank
6.75% - 7.25%
Post Office
5.5% - 5.5%
Punjab National Bank
5.1% - 5.6%
Union Bank of India
5.4% - 5.4%

Calculate Bandhan Bank Fixed Deposit Returns

₹ 100000

Total Investment

₹5641

Wealth Gained

₹5641

Wealth Gained

₹105641

Maturity Amount

How to invest in Bandhan Bank Fixed Deposit?

Investing through Scripbox is made easy and paperless. All you need to do is follow the below steps and start investing

Set up your account

Set up your account

Sign up for a Fixed Deposit Account through Scripbox by way of an entirely paperless process.

Create your Fixed Deposit

Enter an investment amount and try different durations to preview potential returns at a glance.

Invest online and transfer

Invest via Card, Netbanking, or UPI instantly; once done, your Fixed Deposit will be confirmed.

Track your FD’s status

You can view the status of any Fixed Deposits you’ve added or created in your Scripbox account.

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

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

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.

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.

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

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

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%.

How many years will FD double?

To know in how many years Bandhan 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 FD will double. For example, for a tenure of 2-3 years, the FD interest rate for senior citizens is 6.75%. An investor can double the investment amount by investing for this tenure in Bandhan Bank FD in 10.66 years (72/6.75).

Frequently Asked Questions

What is the FD rate of Bandhan bank?

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.

How safe is Bandhan Bank FD?

Bandhan Bank guarantees returns in the form of interest on their FDs. Moreover, the Deposit Insurance Scheme of RBI covers all Bandhan Bank deposits. Also, the scheme covers all Bandhan Bank deposits up to INR 5,00,000. Hence Bandhan Bank FDs are safe for investment.

What is the highest FD rate for Bandhan Bank?

The highest FD rate in Bandhan Bank is 6% for regular citizens for a tenure of 2-3 years. The highest Bandhan Bank  FD rate for senior citizens is 6.75% for a tenure of 18 months to 3 years.

Who is eligible for opening an FD account in Bandhan Bank?

All resident individuals, minors, NRIs, HUFs, partnership firms and also companies are all eligible to invest in Bandhan Bank FDs.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Bandhan Bank?

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.

Can a customer open an FD account online in Bandhan Bank?

Yes, investors can open a Bandhan Bank FD account online through their internet banking facility.

Get started with investing today

Invest in the best mutual funds recommended by Scripbox that are algorithmically selected that best suit your needs.