|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 30 days||3%||3.75%|
|1 month - 1 month 28 days||3.5%||4.25%|
|1 month 29 days - 11 months 28 days||4.5%||5.25%|
|11 months 29 days - 1 year 4 months 12 days||7.25%||7.75%|
|1 year 4 months 13 days - 1 year 4 months 13 days||7.85%||8.35%|
|1 year 4 months 14 days - 4 years 11 months 27 days||7.25%||7.75%|
|4 years 11 months 28 days - 9 years 11 months 27 days||5.85%||6.6%|
Note: All interest rates shown above are as on 6th Nov 2023
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.
3% - 7.85%
3.75% - 8.35%
FD Rate for Seniors
₹ 2 Crores
Loan against FD
|Investment Amount||For 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|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 1,07,496||₹ 1,07,763|
|Total Investment Amount||₹ 1,00,000||₹ 1,00,000|
|Total Interest Gained||₹7,496||₹ 7,763|
|Bank Name||FD Interest Rates|
|Kerala Gramin Bank FD||7.5% - 8%|
|Punjab and Sind Bank FD||6% - 6.5%|
|Ellaquai Dehati Bank FD||6.25% - 6.75%|
|Manipur Rural Bank FD||6.2% - 6.7%|
|Sarva Haryana Gramin Bank FD||6.75% - 7.25%|
|City Union Bank FD||6.5% - 6.75%|
|LIC Housing Finance FD||7.75% - 8%|
|Dhanlaxmi Bank FD||6.5% - 7%|
|Tamilnad Mercantile Bank FD||6.5% - 7%|
|Capital Small Finance Bank FD||7.15% - 7.65%|
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.
Following are the Bandhan Bank Fixed Deposit schemes:
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.
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.
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.
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.
The deposit scheme has a lock-in period, and hence one can’t close prematurely or withdraw the deposit amount.
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.
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.
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.
One can open a Bandhan Bank FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open a Bandhan Bank FD account through internet banking:
The following steps will guide in opening an FD account through Bandhan Bank Mobile App:
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.
To invest in Bandhan Bank FDs, one would require the following documents:
The following are eligible to open a Bandhan Bank FD:
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%.
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%.
What is the highest Bandhan Bank FD rate today?
What is the highest interest rate on Bandhan Bank 1 year FD scheme?
What is Bandhan Bank FD scheme interest rate for 5 years?
How many years FD will double in Bandhan Bank?
What is Bandhan Bank FD minimum deposit amount?
What is senior citizen fixed deposit interest rates in Bandhan Bank?
What are the available FD tenures in Bandhan Bank?
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 74,958. The maturity value will be INR 10,74,958. 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?
How many FDs can be opened in Bandhan Bank?