Fixed Deposit schemes help people earn high interest on their savings. Bandhan Bank offers a wide range of fixed deposit options for its customers. Tenure of Bandhan Bank FD schemes vary from 7 days to up to 10 years. Interest rates offered on short tenure FDs are low whereas rates for long tenure deposits are relatively higher.
Bandhan Bank FD Rates 2019
Bandhan Bank FD Interest Rates for different tenure are as follows:
|Tenure||Bandhan Bank FD Rates (% p.a.)|
|Regular Citizens||Senior Citizens|
|7 days to 14 days||3.50%||4.25%|
|15 days – 3 months||4.00%||4.75%|
|31 days to less than 2 months||4.00%||4.75%|
|2 months to less than 3 months||4.00%||4.75%|
|3 months to less than 6 months||4.50%||5.25%|
|6 months to less than 1 year||6.80%||7.55%|
|1 year to 18 months||7.25%||8.00%|
|Above 18 months to less than 2 years||7.25%||8.00%|
|2 years to less than 5 years||7.40%||8.15%|
|5 years to less than 7 years||7.35%||8.10%|
|7 years to up to 10 years||7.25%||8.00%|
- Interest rate are applicable on deposits below Rs. 2 crore with effect from September 16, 2019.
- Interest rates on NRE (Non Resident External) and NRO (Non Resident Ordinary) term deposits are same as those applicable on domestic term deposits.
FCNR (Foreign Currency Non-Resident) Fixed Deposit Interest Rates
|1 year to < 2 years||3.77||1.23||0.01|
|2 years to < 3 years||3.51||1.22||0.01|
|3 years to < 4 years||2.17||1.12||0.01|
|4 years to < 5 years||2.12||1.10||0.01|
|5 years only||2.09||1.09||0.01|
- Simple interest is applicable on FCNR deposit for 1 year. However, interest is compounded at half yearly frequency on FCNR deposit of above 1 year.
- No interest is payable if FCNR deposit withdrawn before 1 year.
- All figures in % per annum
Features of Bandhan Bank FD
Bandhan Bank Fixed Deposits have some salient features of their own. Some of these features are as follows:
- The bank offers attractive interest rates on its range of FD schemes.
- Investors can open FD accounts through multiple channels such as online banking, mobile banking and by visiting the branch.
- Depositors can choose from various deposit plans with traditional as well as reinvestment features.
- Depositors get maximum liquidity on FD schemes with facilities such as part withdrawal and premature closure. That is, you can withdraw the funds accumulated in the FD partially during the tenure and even close the FD before the allotted time.
- Depositors also have the option to choose monthly or quarterly interest pay-outs and even quarterly compounding of interests.
- Another great feature of Bandhan Bank’s fixed deposit is that the bank can extend a loan or overdraft on the FD, should the depositor be in need of funds. This option is best for individuals who need funds immediately and have a low credit score, making it difficult for them to get a personal loan or any other unsecured loan.
- Depositors have to make a minimum deposit of Rs 1000 and in multiples of Re 1 thereafter in fixed deposit schemes. However, this minimum deposit amount may differ for every scheme.
Types of Bandhan Bank Fixed Deposit Schemes
- Bandhan Bank Tax Saver Fixed Deposit
- Bandhan Bank Premium Fixed Deposit
- Bandhan Bank Standard Fixed Deposit
- Bandhan Bank Advantage Fixed Deposit
- Bandhan Bank Dhan Samriddhi Fixed Deposit
- Bandhan Bank Fixed Deposit for Senior Citizens
Bandhan Bank Tax Saver Fixed Deposit Account
Like all tax-saving FDs, Bandhan Bank Tax Saver FDs help tax-paying citizens earn high interest on their investments and save on taxes at the same time. The key features are as follows:
|Features of Bandhan Bank Tax Saver Fixed Deposits|
Bandhan Bank Premium Fixed Deposit Account
The Bandhan Bank Premium FD scheme is designed especially for those customers who invest huge amounts to earn high interest on their investments. Features of this scheme are mentioned below:
|Features of Bandhan Bank Premium Fixed Deposits|
Bandhan Bank Standard Fixed Deposit Account
Bandhan Bank Standard Fixed Deposit scheme provides high returns after maturity. People with both short-term and long-term goals can invest in these schemes and utilise the idle money in their savings account. Some of the features of this scheme are mentioned below:
|Features of Bandhan Bank Standard Fixed Deposits|
Bandhan Bank Advantage Fixed Deposit
Bandhan Bank Advantage FD scheme allows you to make your savings grow faster by providing you the advantage of compounding interest rate. Salient features of this FD scheme are as follows:
|Features of Bandhan Bank Advantage Fixed Deposits|
Bandhan Bank Dhan Samriddhi Fixed Deposit Account
This FD scheme is designed especially for those people who have a short-term financial goal in mind such as health, education, festival, marriage, travel, etc. The compounding interest is reinvested in the scheme which helps in higher growth of the interest amount. This FD scheme has the following features:
|Features of Bandhan Bank Dhan Samriddhi Fixed Deposits|
Bandhan Bank Fixed Deposit for Senior Citizens Account
Senior citizens prefer investing in fixed deposits as these are risk-free and high earning financial instruments. The monthly payout option helps them to withdraw the interest on a regular basis which acts like a pension plan. Moreover, these schemes assure guaranteed returns and that too at high interest rates.
- Senior citizens residing in India get an additional 0.75% interest over the rates offered to regular citizens.
- NRI citizens do not get this privilege.
- Resident senior citizens have to submit the age proof at the time of availing the additional benefit.
- Bandhan Bank deposit rates range from 4.25% to 8.15% for a period of 7 days to 10 years to senior citizens.
Also Read: Senior Citizens Fixed Deposit Interest Rates
Bandhan Bank FD Calculator
Investors of fixed deposits in the bank can use the Bandhan Bank Fixed Deposit calculator. They have to enter the investment amount, Bandhan Bank FD interest rates and tenure and choose the scheme to find out the amount they would get on maturity.
Bandhan Bank Fixed Deposit FAQs
Q. How can I open a fixed deposit in Bandhan Bank?
A. Bandhan Bank offers a number of ways through which an investor can open the Bandhan Bank FD. A depositor can open a fixed deposit online via internet banking and mobile banking as well as by visiting the bank. Users can check the IFSC code of the bank online at Paisabazaar.
Q. Is PAN necessary for fixed deposit schemes?
A. The bank asks its investors to mandatorily provide their PAN at the time of booking the Bandhan Bank fixed deposit. In case the depositor does not provide the PAN, the bank deducts TDS at a higher rate as per the Indian Income Tax laws.
Q. Can NRE FDs be opened in Bandhan Bank?
A. Yes, Bandhan Bank offers NRE fixed deposit schemes but the minimum tenure under these schemes is one year. In case of premature withdrawal before one year, no interest is given to the depositor.
Q. How to check interests and maturity amount of Bandhan Bank fixed deposit schemes?
A. Depositors can check the maturity amount and interests payable at the end of tenure with the help of Bandhan Bank FD calculator.
Bandhan Bank Fixed Deposit News
|Reduction in FD interest rates by Bandhan Bank|
|18th September, 2019|
Due to an upheaval in the money market, various banks are revising their FD rates. Following the trend, Bandhan Bank has sliced down its FD interest rates by up to 40 bps. This has led to a drop in the maximum FD rate offered by the bank from 7.65% to 7.25%. Similarly, senior citizens shall also get maximum returns of 8.00% p.a. as compared to the previous rate of 8.40%.
|Bandhan Bank revises its Fixed Deposit Rates|
|22 July, 2019|
Bandhan Bank has revised its fixed deposit rates on retail term deposits and bulk deposits. Deposits less than Rs. 2 crore range from 3.50% to 7.65% (for regular individuals) for deposits with tenure of 7 days to 10 years. Not only this, the benefit is also extended towards senior citizens as the bank is providing 0.75% over FD interest rates for regular individuals. Account holders can invest for tenure of 2 years to less than 5 years and avail 7.65% (for regular individuals) and 8.40% (for senior citizens). Bandhan Bank also revised its interest rates on bulk deposit ranging from Rs. 2 crore to Rs. 100 crore and above.