Latest Bandhan Bank FD Interest Rates 2024

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Based in Kolkata, Bandhan Bank Ltd. offers banking and financial services, serving over 13 million customers. With 4,177 touchpoints, the bank operates in Treasury, Retail Banking, Corporate and Wholesale Banking, and Other Banking Business segments. Moreover, it has 937 bank branches, 2,764 Doorstep Service Centers (DSCs), and 476 ATMs.

The bank offers various fixed deposit schemes to customers, featuring diverse tenures and interest rates. Here is a comprehensive guide on the FD accounts offered by this bank and Bandhan Bank FD rates:

Minimum Deposit	₹1,000
Maximum Deposit	No upper limit
Minimum Tenure	7 days
Maximum Tenure	10 years
Interest Rates	3% – 8.35% (including rates for senior citizens)
Lock-in Period	5 years lock-in period for Bandhan Bank Tax Saver Fixed Deposit
Senior Citizen	3.75% – 8.35% (for deposits below ₹2 crores)
General Citizen	3% – 7.85% (for deposits below ₹2 crores)

Table of Contents

Bandhan Bank FD Interest Rates 2024

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Tenure	General Citizen	Senior Citizen

Features and Benefits of Bandhan Bank FD Interest Rate

Along with getting lucrative Bandhan Bank FD interest rate, Bandhan Bank FD schemes also offer a range of benefits:

Offers 0.75% additional interest to senior citizens on their Bandhan Bank FDs.
All Bandhan Bank FDs are eligible for premature withdrawal except for the tax-saving FD.
Bandhan Bank offers loans against FDs of up to 90% of the deposit amount at 1.5% – 2% higher interest, matching the FD’s tenure.
Investment continues through an automatic renewal facility.
Availability of nomination facilities.
Deposits are protected under RBI’s Deposit Insurance Scheme with a coverage of up to ₹5,00,000.
Issuance of TDS certificate, as per IT Act.

How to Book Bandhan Bank FD?

You can conveniently open a Bandhan Bank FD both online and offline. Following are the steps that you need to follow to open a Bandhan Bank FD today:

Online

You can open a Bandhan Bank FD online through their Internet Banking portal or the Mobile App.

1. Internet Banking

Step 1: Visit the Bandhan Bank NetBanking portal and log in to your account.
Step 2: Navigate to the main menu and choose the ‘Fixed Deposit’ option. Select your preferred FD type.
Step 3: Enter all the required details, nominee information, and maturity instructions.
Step 4: Click ‘Submit’ to finalise the process of opening the deposit account.

2. Bandhan Bank App

Step 1: Download the Bandhan Bank App and log in by using your credentials.
Step 2: Choose the desired FD type from the ‘Fixed Deposit’ section.
Step 3: Enter essential details, nominee info, and maturity instructions.
Step 4: Click ‘Submit’ to complete the deposit account opening process.

Offline

To open an FD account offline, follow the steps mentioned below:

Step 1: Visit the nearest Bandhan Bank branch.
Step 2: Fill out the application form with your personal details.
Step 3: Select the type of FD you want to open with the desired tenure.
Step 4: Submit all the necessary documents with the deposit amount

Once the application is processed successfully, the bank will provide you with an FD receipt.

Documents Required to Book Bandhan Bank FD

The following are some important documents you are required to submit to book a Bandhan Bank FD:

Duly filled FD application form
PAN card or Form 60/61
Identity Proof – Aadhaar Card, PAN Card, Passport, Driving License, etc.
Address Proof – Aadhaar Card, Voter’s ID Card, Passport, Driving License, etc.
Age Proof – Birth Certificate, Aadhaar Card, PAN Card, Voter’s ID Card, Passport, etc.
Passport size photos
Bank account details – account number, IFSC code, and branch name.

Eligibility to Open Bandhan Bank FD

The following individuals are eligible to open a Bandhan Bank FD account:

Applicant type: Indian residents, Non-Indian residents, Hindu Undivided Families (HUFs), Sole proprietorship firms, Limited companies, Partnership firms, Trust accounts.
Age (in case of individual applicants): 18 years or more.

Types of Bandhan Bank FD Schemes

The following are different Bandhan Bank FD schemes offering lucrative Bandhan Bank FD rates that you can explore as per your requirements:

1. Standard Fixed Deposit

You can invest your savings in this scheme that offers a better interest rate than a savings account and helps you meet your financial goals steadfastly. Additionally, you can obtain a loan or overdraft in times of emergencies, utilising the deposited amount.

Minimum Deposit: ₹1,000 and multiples of ₹1 thereafter.
Maximum Deposit: No upper limit
Tenure: 7 days to 10 years
Interest Rate: 3% to 8.35% (including senior citizens)
Eligibility: Indian resident

2. Premium Fixed Deposit

If you are a high-value depositor, opening a Premium Fixed Deposit is right for you as this account offers favourable Bandhan Bank Fixed Deposit rates through this FD account. Furthermore, you can get loans and overdraft facilities or opt to prematurely close the deposit during emergencies.

Minimum Deposit: ₹2 crores
Maximum Deposit: No upper limit
Tenure: 7 days to 10 years
Interest Rate: 3% to 8.35% (including senior citizens)
Eligibility: Indian resident

3. Tax Saver Fixed Deposit

This FD type is ideal for working professionals who wish to enjoy both high-interest rates and tax benefits. Interest income of up to ₹1,50,000 qualifies for tax deduction under Section 80C of the Income Tax Act. However, this deposit scheme entails a lock-in period, preventing you from early closure or withdrawal of the deposited amount.

Minimum Deposit: ₹1,000
Maximum Deposit: ₹1,50,000
Tenure: 5 to 10 years
Interest Rate: 5.85% for the general public and 6.60% for senior citizens
Eligibility: Indian resident

4. Advantage Fixed Deposit

With this deposit scheme, you can gain the benefit of compounding interest. You have the option to avail a loan or overdraft facility against your deposited amount. The scheme also permits partial withdrawal or early closure during emergencies.

Minimum Deposit: ₹1,000 and multiples of ₹1 thereafter.
Maximum Deposit: No upper limit
Tenure: 6 months to 10 years
Interest Rate: 4.50% to 8.35% (including senior citizens)
Eligibility: Indian Resident

5. Dhan Samriddhi Fixed Deposit

Dhan Samriddhi Fixed Deposit accelerates your growth within a short time. Your deposit grows swiftly as the compounded interest amount gets reinvested into the scheme. It is a growth-focused fixed deposit that helps you achieve financial goals for marriage, education, travel, etc. Moreover, you can open a single or joint account.

Minimum Deposit: ₹5,000
Maximum Deposit: No upper limit
Tenure: 6 months to 10 years
Interest Rate: 4.50% to 8.35% (including senior citizens)
Eligibility: Indian resident

6. Super Saver Fixed Deposit

This daily deposit scheme caters specifically to customers who are daily wage earners, small traders, and shopkeepers. Its main objective is to instil a habit of savings in individuals and ensure substantial capital needs. When the savings amount accumulates and reaches a certain limit, it is automatically shifted to a Fixed Deposit for a set duration.

Minimum Deposit: ₹10
Maximum Deposit: ₹8,000
Tenure: 1 year
Interest Rate: No data available
Eligibility: Indian resident

7. Foreign Currency Non-Resident (FCNR-B) Fixed Deposit

This scheme helps NRIs to earn attractive returns on their foreign earnings. It accepts deposits in 3 different currencies: USD, GBP, and EURO. The principal amount and earned interest are fully and freely repatriable in this scheme.

Minimum Deposit: USD 1,000, EUR 1,000 and GBP 1,000
Maximum Deposit: No upper limit
Tenure: 1 year to 5 years
Interest Rate: 3.81% to 4.81%
Eligibility: NRIs

8. NRE Fixed Deposit

With an NRE Fixed Deposit account, NRIs can deposit their foreign earnings in an Indian FD account and convert them into Indian currency. This type of scheme offers tax-free interest that is fully repatriable.

Minimum Deposit: ₹1,000
Maximum Deposit: No upper limit
Tenure: 1 year to 10 years
Interest Rate: 5.85% to 7.85%
Eligibility: NRI

9. NRO Fixed Deposit

It is a flexible minimum deposit account where NRIs can deposit any income that they have earned from Indian sources. With this scheme, NRIs can avail attractive Bandhan Bank FD rates on their earnings from India, such as pension, dividend income, rent, etc. Moreover, the interest income of up to USD 1 million can be repatriated during a financial year for authentic purposes.

Minimum Deposit: ₹1,000
Maximum Deposit: No upper limit
Tenure: 7 days to 10 years
Interest Rate: 3% to 7.85%
Eligibility: NRI

Now that you have an idea of the latest Bandhan Bank FD interest rates for 2023, you can choose the scheme that caters to your preferences. The minimum deposit account for the FD schemes starts from ₹10 with no upper limit. Both resident and non-resident Indians are eligible to invest, and senior citizens receive higher interest rates. However, you should remember that you have to pay a penalty amount for premature withdrawal. So, selecting the right tenure and principal amount is crucial before opting for a scheme. Furthermore, keep in mind that the Bandhan Bank FD rates are subject to change as per interest rates in the market.

FAQs

What is the interest rate for a general citizen for a 1-year FD account?

7.25% is the interest rate applicable for general citizens investing in 1-year FD schemes.

What is the minimum tenure and minimum interest rate on Bandhan Bank FD?

The minimum tenure is 7 days, and the minimum interest rate applicable is 3.00% for Bandhan Bank fixed deposit plans.

Is there a TDS on Bandhan Bank FD interest income?

Yes, a TDS of 10% is applicable if the interest income of an individual exceeds ₹40,000 during a financial year. For senior citizens, the limit is ₹50,000 during a financial year.

Do senior citizens get additional benefits in FD interest rate?

Yes, senior citizens get an additional benefit of 0.50% on the interest rate. The rate ranges from 3.75% to 8.35%.

Can the Bandhan Bank interest rates change after I make the deposit?

The interest rates on fixed deposits can change at any time. Once you have booked a deposit account at a particular interest rate, that rate will remain unchanged throughout the tenure.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.