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  • Bandhan Bank Fixed Deposit Calculator

Bandhan FD Calculator

Calculate FD Returns

Investment Amount
₹ 
Investment Duration
Interest Rate
 %

After 5 years, you will have

₹ 15,105

that’s ₹ 5,105 earned as interest

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Note: All projections are based on historical averages. Learn More

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Bandhan Bank Fixed Deposit Features

Bandhan Bank Fixed Deposit offers investors high interest rates at minimum risk. Following are some of the key features of a Bandhan Bank FD account:

  • Guaranteed Returns: Bandhan Bank fixed deposit schemes offer guaranteed income at a fixed interest rate.
  • Tenure: The tenure ranges from seven days to ten years.
  • Minimum Amount: The minimum amount to open a Bandhan Bank FD account is INR 1,000.
  • Maximum Amount: There is no limit on the maximum amount of investment in Bandhan Bank FD. However, for tax saver FD, the maximum investment is only INR 1.5 lakhs.
  • Bandhan Bank FD rates: The Bandhan Bank fixed deposit interest rate ranges between 3% to 6% p.a.
  • Senior Citizens FD Rate: Bandhan Bank offers preferential interest rates for senior citizen depositors. Also, the Bandhan FD rates range between 3.75% to 6.75%.
  • Safety: The Deposit Insurance Scheme insures the Bandhan Bank deposits up to INR 5,00,000.
  • Loan against FD: Bandhan Bank provides its depositors with a facility to avail a loan against their FDs up to 90% of the deposit amount. The interest rate of the loan will be 1.5%-2% above the contracted interest rate. Also, a loan against the FD allows investors to meet their financial gaps and liquidity requirements without breaking FD.
  • Nomination Facility: Bandhan Bank depositors can nominate beneficiaries while opening the FD account.
  • Auto-Renewal: Bandhan Bank offers an auto-renewal facility of the fixed deposit account.

What is a Bandhan Bank FD Calculator?

Bandhan Bank FD Calculator is a simple online tool that helps in estimating the returns from an FD investment. Furthermore, the FD calculator only requires simple inputs like tenure in years, rate of interest, investment amount, and target amount. The output Bandhan Bank FD calculator provides aids in better financial planning.

However, one must understand that the Bandhan Bank FD Calculator only provides an estimation and doesn’t guarantee any returns. Also, the actual return might vary, and the exact maturity amount will be known only after one invested in Bandhan Bank FD.

How to use Bandhan Bank FD Calculator?

It is a good idea to assess the prospective return on an investment before making a decision. This aids in more effective investment planning. In other words, if the returns are measured in terms of money accumulated rather than a percentage, one can better plan their goals. There are two ways one can estimate the returns from FD investment using Scripbox Bandhan Bank FD Calculator: investment amount approach and target amount approach.

Investment Amount Approach

Following are steps that you can follow to use the Bandhan Bank FD Calculator using the Investment Amount Approach:

  • Firstly, enter the investment amount that you intend to invest in the Bandhan Bank FD scheme.
  • Now, with the slider, adjust the desired tenure of the Bandhan FD investment. For Bandhan Bank FD, the tenure usually varies from one to five years.
  • Then, use the slider to adjust the interest rate on the Bandhan Bank FD.
  • Next, select the compounding period for the Bandhan bank fixed deposit investment. One can choose any of the following compounding options: monthly, quarterly, half-yearly and yearly options. The number of times interest will be compounded is known as compounding frequency. The amount of interest is determined by the frequency of payments. As a result, it must be carefully chosen.
  • Lastly, select the suitable option under the senior citizen section (yes or no).

After all the inputs are entered, the Bandhan Bank FD calculator automatically shows the interest and maturity amount. The Bandhan Bank FD calculator shows a tabular format of the interest earned each year along with the opening and closing balance. Moreover, the Bandhan Bank FD calculator gives a graphical representation of the initial investment and maturity amount.

Target Amount Approach

While the investment amount approach requires an individual to enter the investment amount, the target amount approach estimates the investment amount based on the amount one expects from the Bandhan Bank FD investment. Following are the steps that one needs to follow to use the Bandhan Bank FD Calculator using the Target Amount Approach:

  • Firstly, select how you want to receive the interest from Bandhan Bank FD, as a regular income or in a lump sum.
  • Secondly, enter the target amount you want to receive from the Bandhan Bank FD investment.
  • Lastly, enter the duration, interest rate and compounding frequency that the Bandhan Bank FD offers. Also, select the suitable option (yes or no) under the senior citizen section.

The Bandhan Bank FD calculator gives the investment amount needed to achieve the target and estimates the interest one might earn. Moreover, the Bandhan Bank FD Calculator shows a tabular representation of opening balance, interest earned and closing balance for each year.

Benefits of using Bandhan Bank FD Calculator

  1. Bandhan Bank FD interest rate calculator helps in estimating the returns within a few seconds and aids in making quick and well informed investment decisions.
  2. The interest amount from Bandhan Bank FD investment is affected by tenure, interest rate, compounding frequency, and investment amount. One can use the Bandhan Bank FD calculator to see which factor affects the interest rate the most by adjusting them and then can compare the results.
  3. There are multiple fixed deposit schemes in the market that banks and NBFCs offer. Using the Bandhan Bank FD calculator, one can compare the maturity amount of different banks and NBFCs.
  4. Investors can compare the Bandhan Bank FD Calculator results with the returns from other investments as well. This will help them analyse which investment gives better returns. For example, an investor who wants to compare the Bandhan Bank FD investment results with PPF can use the Scripbox PPF Calculator and Bandhan Bank FD Calculator.
  5. The Scripbox Bandhan Bank FD calculator has two approaches, namely, the investment and target amount approach. The investment amount approach is suitable for individuals who have an idea about the amount they wish to invest. While investors who know have a target amount that they wish to accumulate can use the target amount approach on the Bandhan Bank FD calculator.
  6. The Bandhan Bank FD calculator provides results in graphical and tabular format. These representations clearly show the opening balance, interest earned, and closing balance for each year during the entire Bandhan Bank FD investment tenure. Hence investors can know how much balance is left in their Bandhan Bank FD after every interest payout.

How is Bandhan Bank FD Interest Calculated?

The interest amount from Bandhan BankFD investment depends on a number of factors such as investment amount, tenure of the FD, compounding frequency, and the rate of interest. One can estimate the interest earned from Bandhan Bank FD using two methods, namely, simple interest and compound interest. Let us understand the calculation of interest and maturity amount using both the methods with the help of an example.

Simple Interest on Fixed Deposit

Simple interest is the income or reward that one earns for investing money for a predetermined period at a fixed interest rate.

Formula

Simple Interest = (P * R * T)/ 100

P- Initial investment amount

R- Interest rate of Bandhan BankFD (%)

T- Tenure of the Bandhan BankFD

Example

Ms Sanjana wants to invest INR 450,000 for 7 years at an interest rate of 7.5% per annum.

For Ms Sanjana, the principal amount (P) is INR 45,000, rate of interest (R) is 7.5%, and tenure (T) is 7 years.

Simple Interest = (INR 45,000 * 7.5 * 7 years)/ 100 = INR 23,625

Maturity Value = Investment + Simple Interest earned during the tenure of investment

= INR 45,000 + INR 23,625

= INR 68,625

Compound Interest on Fixed Deposit

Compound interest is the income that the investor earns on the principal and accumulated interest. In simple terms, compounding is earning interest on interest. A longer the duration of the investment, and higher the number of compounding periods along with lower interest payout frequency will result in higher interest income when compared to lower number of compounding periods and high interest payout frequency.

Formula

A = P (1+r/n) ^ (n * t)

A = Amount at maturity

P = Investment

r = Rate of interest (in decimals)

n = number of times interest is compounded

t = investment duration in years

Example

Ms Sanjana wants to invest INR 45,000 for seven years at an interest rate of 7.5% per annum, compounded quarterly.

For Ms Sanjana, the principal amount (P) is INR 45,000, rate of interest (r) is 7.5%, tenure (t) is seven years, and the number of compounding periods is 4 (n)

Maturity Amount = 45,000 (1+0.075/4) ^ (4*7)

A (maturity amount) = INR 75,701.75

Interest income = INR 75,701.75– INR 45,000 = INR 30,701.75

You may also like to read about the Bandhan Bank Savings Account Interest Rates

Frequently Asked Questions

What is the FD rate of Bandhan Bank?

The Bandhan Bank fixed deposit interest rate ranges between 3% to 6% p.a. The Bandhan FD rates for senior citizens range between 3.75% to 6.75%.

What is the highest fixed deposit interest rate for Bandhan Bank?

The highest FD rate for Bandhan Bank is 6% for a regular investor for the tenure of 1.5-3 years. Also, for senior citizens, the highest Bandhan Bank FD interest rate is 6.75%.

How safe is Bandhan Bank?

The Deposit Insurance Scheme insures the Bandhan Bank deposits up to INR 5,00,000, hence Bandhan fixed deposits are considered safe.

How many years will FD double in Bandhan Bank?

To know in how many years a FD with Bandhan Bank 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 7-10 years, the Bandhan Bank FD interest rate is 7.5%. An investor can double the investment amount by investing for this tenure in Bandhan Bank FD in 9.6 years (72/7.5).

Does Bandhan Bank provide a Loan against FD?

Investors can avail of a loan against their Bandhan Bank FD. Hence, Bandhan Bank provides investors with an opportunity to meet their liquidity requirements without breaking their FD. Also, Bandhan Bank offers loans only on 90% of the deposit amount, and the interest rate is 1.5%-2% above the FD rate. The terms and conditions of the loan vary as per Bandhan Bank norms.

Is there a Premature withdrawal facility available with Bandhan Bank?

Bandhan Bank allows its investors to withdraw the deposit amount prematurely. However, Bandhan Bank charges a penalty for premature withdrawal. The terms and conditions of premature withdrawal depend on Bandhan Bank norms.Add question

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