Here are a few key features of the Bandhan Bank fixed deposit schemes.
The tenor ranges from 7 days to 10 years
The minimum deposit amount to invest in its standard FD scheme is ₹1,000
Bandhan Bank offers 6 types of fixed deposits, namely standard FD, premium FD, tax-saver FD, advantage FD, Dhan Samriddhi FD, and super saver FD
The interest rates offered by Bandhan Bank range between 3.00% to 8.00%
The rates of interest for senior citizens range from 3.75% to 8.50%
The Deposit Insurance Scheme insures your FD up to ₹5,00,000
It offers the loan against FD facility
Here’s a step-wise guide to using the Bandhan Bank FD calculator
Log in to the customer portal on Bandhan Bank’s official website
Go to the ‘Bandhan Bank FD Calculator’ page
Enter your deposit amount and tenor
The Bandhan Bank FD interest calculator will compute results for the rate of interest and the tenor.
Here’s how you can calculate the FD maturity amount manually:
Fixed deposit interest formula is A = P (1 + r/n)^nt
A = Maturity amount
P = Principal
r = Rate of interest
n = Number of times interest has compounded
t = Total tenor of the investment
The manual process of calculating the FD maturity amount can be error-prone and time-consuming. Hence it is best to use our Bandhan Bank FD calculator.
To understand the manual calculation of the Bandhan Bank FD, here is an example. Consider that a non-senior citizen invests ₹5 Lakhs in a standard Bandhan Bank FD scheme for a tenor of 3 years. The applicable interest rate for this tenor would be 7.25% per annum.
Based on the formula, P = 5,00,000, r = 0.0725 (7.25%), n = 1, t = 3. The maturity amount will be:
A = 500000(1 + 0.0725/1)^1*3
A = 500000(1+ 0.0725)3
A = 616824.91
The maturity amount is ₹6,16,824.91, and the interest earnings is ₹1,16,824.91.
The benefits of using the Bandhan Bank fixed deposit calculator are mentioned below.
The Bandhan Bank FD interest calculator is user-friendly
It enables you to plan for long-term and short-term investments easily
The FD interest calculator that Bandhan Bank offers is accurate and time-efficient
It ensures you make smarter and well-planned investments
The primary benefit of using the Bandhan Bank FD calculator is that it provides an estimate of your returns at the end of the tenor. With this tool, you can optimise your investment to ensure that it aligns with your investment goals.
Apart from that, the Bandhan Bank fixed deposit calculator enables you to compare different FD schemes. This comparison further enables you to choose the right scheme for your goals. All in all, this digital enables you to make informed investment decisions.
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You can compare your indicative returns for different tenors with the Bandhan Bank FD calculator and opt for the most lucrative option.
Yes, you can open an FD account with Bandhan Bank online.
A general rule of thumb to estimate when your investment will double is to divide 72 by the highest interest rates. With standard Bandhan Bank, the highest rate is 8.00%. As such, your investment will double in 9 years (72/8). You can use the Bandhan Bank FD calculator to verify this calculation.
The minimum amount to use the Bandhan Bank FD interest calculator is the same as the minimum FD investment amount – ₹1,000.
Yes, the Bandhan Bank fixed deposit calculator is free and can be used without restrictions.