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** Disclaimer: Bandhan Bank has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.

 

A fixed deposit (FD) is the preferred financial option for investors who don’t have an appetite for risky ventures. A Bandhan Bank fixed deposit can be opened for short-term or long-term periods with deposit amounts as low as ₹1,000. In fact, this minimum amount is a mere ₹ 10 for the Super Saver Fixed Deposit.

 

Let us examine the key features and benefits offered by the Bandhan Bank FD. Additionally, we will also inform you about the eligibility criteria and documents needed to open a  Bandhan Bank FD, how to do so, and how to make use of the Bandhan Bank FD calculator to help you determine your return on investment.

 

If you are wondering what kind of Bandhan Bank FD rates you will get for the different maturity buckets, then here’s a quick table to help you visualise it.

Investment Tenor

Bandhan Bank FD rates for Non-Senior Citizens

Bandhan Bank FD rates for Senior Citizens

Between 7 - 14 days

3.00%

3.75%

Between 15 - 30 days

3.00%

3.75%

From 31 days to less than 2 months

3.50%

4.25%

From 2 months to less than 3 months

4.50%

5.25%

From 3 months to less than 6 months

4.50%

5.25%

From 6 months to less than 12 months

4.50%

5.25%

Between 12 - 18 months

7.00%

7.50%

Above 18 months to less than 2 years

7.00%

7.50%

From 2 years to less than 3 years

7.00%

7.50%

From 3 years to less than 5 years

7.00%

7.50%

From 5 years to up to 10 years

5.60%

6.35%

Note: The above interest rates are as of 22 August, 2022 and are applicable for retail domestic fixed deposits under ₹2 Crores. They are subject to change from time to time depending on the bank’s policies. Applicable interest rates will be given as on the date/time of receipt of the funds by the bank.

Bandhan Bank Fixed Deposit Calculator

As mentioned earlier, just like it is for other banks, the Bandhan Bank fixed deposit rates can also differ depending on various factors. For example, the Bandhan Bank FD interest rates are in the range of 3% per annum to 7% per annum for non-senior citizens. The Bandhan Bank senior citizen FD rates are slightly higher and fall between 3.7% per annum to 7.50% per annum. Therefore, it is wise to first use Bandhan Bank Fixed Deposit Calculator to calculate the interest you will earn on the amount invested for the tenor of your choice. This way you can also compare the different FD plans before investing in one. Moreover, the Bandhan Bank Fixed Deposit Calculator will also help you plan out your investment more practically.  

Deposit Amount
Tenure
Months
Interest Rate
%
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned

Features and Benefits of Bandhan Bank Fixed Deposit

While the attractive Bandhan Bank FD rates are one of the most appealing aspects, they are not the only reason to invest in the bank’s fixed deposit. There are numerous other benefits as well. Let us take a look at some of the prominent ones.

 

  • Assured Returns

Regardless of the market condition, the Bandhan Bank FD rates are locked-in at the time of investment. This means you are guaranteed to get the returns based on the fixed interest  rate applicable on the tenor chosen by you. 

 

  • Flexible Investment Amount and Tenor 

You have the option of choosing your investment amount and maturity period. The amount can start with ₹1,000 with no cap on the maximum amount that can be invested. Your investment tenor can range from 7 days to 10 years, depending on your financial needs and goals. Generally, the Bandhan Bank FD rates are higher for longer tenors.

 

  • Flexible Payout Frequency

Not just the investment tenor, you can also decide how frequently you want the Bandhan Bank FD interest deposited to your account. The typical options include monthly, quarterly, semi-annually, annually, or upon maturity. This way, you can use the interest to meet your regular expenses without having to dip into your savings.

 

  • Convenience of Opening FD Account and Automatic Renewal

Being a modern bank, most of the services are available online at Bandhan Bank. This includes opening of a new Bandhan Bank Fixed Deposit or the renewal of one that is about to reach its maturity date. You can also choose to open a Bandhan Bank Fixed Deposit using the traditional offline method by visiting the branch. The Bandhan Bank FD rates are uniform irrespective of the mode of opening the FD. By giving standing instructions online, the entire FD or just its principal can be automatically renewed without the need of any intervention on your part.

 

  • Liquidity and Loan Against FD

In case of any financial emergency, you can dissolve the Bandhan Bank Fixed Deposit before the completion of its term by paying marginal premature withdrawal charges and get the entire amount in your account. Another, more convenient, option is to take a loan against the FD. You can avail up to 90% of the FD amount as loan and pay back in EMIs for a period of up to three years. 

 

  • Higher Bandhan Bank Senior Citizen FD Rates

Typically, senior citizens get an additional 0.50% to 0.75% on the standard Bandhan Bank FD rates. Considering that many senior citizens are either retired or planning for retirement, these extra returns can be quite helpful in planning their future finances.

 

Bandhan Bank FD Interest Rates for Senior Citizens and Others for 5 Years

The Bandhan Bank FD rates for a tenor of 1-4 years are 7.10% for non-senior citizens and 7.50% for senior citizens. For a 5-year tenor, these rates are 5.60% and 6.35% respectively. Here is a table that shows the interest rate, interest earned and total maturity amount for different tenors, their corresponding FD rates, monthly and cumulative interest rates for different investment amounts over a 5 year window. The investment amount for this calculation is taken as ₹ 1 Lakh and the compounding frequency is annual.

Tenor

Non-Senior Citizens

Senior Citizens

Interest Rate

Interest Earned

Maturity Amount

Interest Rate

Interest Earned

Maturity Amount

1 year

7.10%

₹ 7,100 

₹ 1,07,100

7.50%

₹ 7,500

₹ 1,07,500

2 years

7.10%

₹ 14,704 

₹ 1,14,704

7.50%

₹ 15,562

₹ 1,15,562

3 years

7.10%

₹ 22,848 

₹ 1,22,848

7.50%

₹ 24,230 

₹ 1,24,230

4 years

7.10%

₹27,400 

₹ 1,31,570

7.50%

₹ 33,547

₹ 1,33,547

5 years

5.60%

₹ 31,317

₹ 1,31,317

6.35%

₹ 36,047 

₹ 1,36,047

Note: The above calculations are made using interest rates as of 22 August, 2022 and are applicable for retail domestic fixed deposits under ₹ 2 Crores. They are subject to change from time to time depending on the bank’s policies. Applicable interest rates will be given as on the date/time of receipt of the funds by the bank.

Eligibility Criteria and Document Required for Opening FD in Bandhan Bank

Now that you have understood the several benefits offered by a Bandhan Bank fixed deposit and the attractive Bandhan Bank FD interest rates across various terms, you should also know the eligibility criteria for opening an FD in the bank. Furthermore, whether you choose to open an FD online or offline, you will be required to furnish some essential documents as part of the process. Let us take a look at these.

 

Eligibility Criteria

The following people/entities are eligible to apply for a Bandhan Bank FD, provided they own a valid PAN card:

 

  • Indian Resident

  • Non-Indian Resident

  • Hindu Undivided Family

  • Sole proprietorship firms

  • Limited companies

  • Partnership firms

  • Trust accounts

 

Documents Required

The standard documents required to start a Bandhan Bank fixed deposit are:

 

  • PAN card

  • Photo ID proof such as an Aadhaar card, passport, etc.

  • Address proof such as ration card, utility bills, passport, etc.

  • Age proof such as birth certificate, matriculation certificate, etc.

  • Passport-size photograph

For firms, trusts, and limited companies the documentation may be a bit more exhaustive and include partnership deed, certificate of incorporation, copy of resolution, etc., as the case might be.

How to Open FD in Bandhan Bank

Bandhan Bank Netbanking customers can easily open an FD of their choice through their Netbanking login directly. This is a very simple process since all your relevant personal and financial information is already tagged to your account. 

 

If you are a new customer, then follow these simple steps to open an FD online:

 

  • Step 1: Visit the Bandhan Bank FD opening page

  • Step 2: Enter your personal details such as name, email, mobile, city of residence, and Pincode

  • Step 3: Enter the OTP received for verification and proceed

  • Step 4: Choose your type of FD, payout frequency, and the preferred investment period

  • Step 5: Enter the amount to be deducted as FD principal

  • Step 6: Choose your mode of online payment

  • Step 7: Submit your FD opening application

  • Step 8: You will instantly receive an acknowledgment for the same

 

Alternatively, you can also book a Bandhan Bank Fixed Deposit by visiting a nearby branch of the bank,and following these steps:

 

  • Step 1: Visit a nearby Bandhan Bank branch. 

  • Step 2: Request for a form to open an FD. 

  • Step 3: Fill the form carefully and affix your signature in the relevant areas. 

  • Step 4: Submit the form along with all the relevant supporting documents to the bank official. 

  • Step 5: Make the payment. 

How Can Bandhan Bank Fixed Deposit Calculator Help?

Bandhan Bank offers several types of FD with varying interest rates. The Bandhan Bank fixed deposit interest rates are different across the various FD types, investment tenor, and the amount invested. With so many options and variations, it is natural to want to be sure that your hard-earned money gets the best return. 

 

This is easily done using the Bandhan Bank FD calculator. The online tool is free to use and can help you immediately visualise the returns you are likely to receive across the different FD types, amounts, and tenors. This will allow you to make a well-informed financial decision. 

How Can You Operate the Bandhan Bank FD Calculator?

The Bandhan Bank FD calculator is an easy-to-use tool that is available online and has no charge associated with it. By inputting the key variables such as principal investment amount, tenor, and rate of interest, the tool will immediately show you the expected interest and cumulative maturity value of your investment. Here are the steps that you need to follow to operate the Bandhan Bank FD calculator. 

  • Step 1: Enter the principal amount to be invested

Here you need to provide the amount that you wish to invest in the FD. Higher the principal amount, the higher the returns you are likely to get. Remember the minimum amount in Bandhan Bank is ₹1,000 while it is ₹10 for the Super Saver Fixed Deposit plan.

  • Step 2: Select the tenor of investment

The next key factor that determines your maturity amount is the investment tenor. Choose the time period for which you wish to invest. Here, too, longer tenors lead to a higher accumulation of wealth. A standard retail Bandhan Bank fixed deposit allows you to invest for a period ranging anywhere from 7 days to 10 years. 

  • Step 3: Choose the pay-out frequency

Pay out frequency can also impact the rates and eventual returns. However, it is also a great way to meet your regular expenses. You can choose to get your interest in your account on a monthly, quarterly, semi-annually, or annually basis, or upon maturity. Choose the relevant option in the Bandhan Bank FD calculator and proceed to the next step

  • Step 4: Fill in the Bandhan Bank FD Rates

Enter the rate of interest in percent. You can refer to the table provided in an earlier section of this article to understand the applicable interest rate based on the tenor chosen and the investment category you fall under (senior citizen / non-senior citizen).

  • Step 5: Click on the calculate button

That’s it! With all the relevant inputs in place, simply click on the ‘calculate’ button to immediately see your maturity amount and the interest you will get for the term you have selected. 

 

There is no limit to using the Bandhan Bank FD calculator and you can do so multiple times using various permutations before making your decision.

How is Bandhan Bank FD Maturity Amount Calculated?

The Bandhan Bank FD maturity amount is calculated using the formula:

 

P (1 + r/n)nt

 

where,

 

  • P is the amount invested, 

  • r is the rate of interest, 

  • n is the frequency of compounding, and 

  • t is the investment tenor.

As you can imagine, calculating the FD amount manually can be cumbersome and tedious, especially if you need to do it multiple times. Instead, the Bandhan Bank FD calculator does it for you automatically and instantly. 

 

Bandhan Bank fixed deposits are a great investment option that can be easily applied for and gotten. There are several types of Bandhan Bank fixed deposit plans that you can choose from, based on the amount you wish to invest and for your preferred investment tenor. Your maturity amount will vary based on these two factors. Empowered with the information provided in this article, and by using the Bandhan Bank FD calculator, you can now make a financially prudent decision and invest in a Bandhan Bank FD that best suits your needs and financial goals.

FAQ's about Bandhan Bank

  • ✔️Can I withdraw money before the completion of the Bandhan Bank FD term?

    Yes, Bandhan Bank offers a premature FD withdrawal facility that allows you to conveniently withdraw your deposit amount before the completion of its term. This facility is available under both online or offline modes.

  • ✔️Can we extend the Bandhan Bank FD?

    Yes, the FD renewal and extension of the investment tenor can also be easily achieved online or by submitting a physical application at the bank’s branch.

  • ✔️Can I get a loan against my Bandhan Bank FD?

    The bank allows a loan against FD of up to 90% of the maturity amount. The loan amount can then be repaid over the course of next three years in monthly EMIs.

  • ✔️What are the common types of forms for a Bandhan Bank FD Account?

    When you open a Bandhan Bank FD online, you simply need to submit your details in the online account opening form and upload the relevant documents. If you would like to avoid getting TDS deducted then you need to submit form 15G (for non-senior citizens) and 15H (for senior citizens).

  • ✔️What is the Bandhan Bank tax saving fixed deposit?

    Bandhan Bank’s Tax Saver Fixed Deposit allows you tax benefits of ₹1.5 Lakhs under the section 80C of the Income Tax Act.

  • ✔️ Is TDS deducted on Bandhan Bank FD?

    Since the interest earned from a FD is taxable, the bank is required to deduct TDS on it. This can be avoided by submitting forms 15 G / H to the bank. You can use the Bandhan Bank FD calculator to understand the annual interest and determine the tax as per your tax slab.

  • ✔️Is there any nomination facility under the Bandhan Bank FD account?

    Yes, nomination is available and encouraged in a Bandhan Bank fixed deposit. This can be done online or by submitting a physical form to the branch office.

  • ✔️ Is there a loan facility under Bandhan Bank FD Account?

    Under Bandhan Bank’s FD loan facility you can avail up to 90% of your maturity amount in loan.

  • ✔️Is there any credit card facility under the Bandhan Bank FD plan?

    Having a Bandhan Bank FD makes you an existing customer. As such, you can request for a Bandhan Bank credit card by simply furnishing your identity proof. You will be required to visit a branch for this.

  • ✔️Does Bandhan Bank's tax-saving FD allow for a premature withdrawal option?

    The Tax Saver Fixed Deposit allows you to save up to ₹1.5 Lakhs under the Section 80C of the Income Tax Act. However, it comes with a lock-in of minimum 5 years without the option of premature withdrawal.

  • ✔️What is the highest FD rate offered by Bandhan Bank?

    The highest Bandhan Bank FD rate for non-senior citizens is 7%. This is applicable for a tenor ranging from 1 year to less than 5 years. For the same tenor, the corresponding interest rate of senior citizens is 7.5%

  • ✔️ What is the minimum amount required to open a fixed deposit account with Bandhan Bank?

    The minimum amount to open an FD in Bandhan Bank is ₹1,000. For the Super Saver Fixed Deposit scheme it is ₹10.