Fixed Deposits (FDs) are a popular investment option in India, offering guaranteed returns with minimal risk. Bandhan Bank has emerged as a top choice for depositors by offering some of the highest interest rates in the market. Currently, Bandhan Bank provides up to 8.55% interest per annum on FDs, making it an attractive option for those looking to grow their savings securely.
In this article, we will explore Bandhan Bank’s FD rates, eligibility criteria, investment benefits, and how it compares to other banks. Whether you’re a first-time investor or a seasoned professional, this guide will provide clear and valuable insights.
Bandhan Bank FD Rates
| Feature | Details |
|---|---|
| Highest FD Rate | 8.55% for senior citizens, 8.05% for regular customers |
| Tenure for Maximum Rate | 1 year |
| Minimum Deposit | ₹1,000 |
| Maximum Deposit | No upper limit |
| Senior Citizen Benefit | Additional 0.50% interest rate |
| Premature Withdrawal | Allowed with penalty |
| Tax Saver FD | Available with a 5-year lock-in |
| Official Website | Bandhan Bank FD Rates |
Bandhan Bank’s Fixed Deposit scheme offers one of the highest interest rates in India, making it a lucrative investment for short and long-term savings. With secure investment options, flexible tenures, and additional senior citizen benefits, it is an excellent choice for risk-averse investors.
Understanding Bandhan Bank FD Interest Rates
Bandhan Bank offers competitive FD rates across various tenures. Below is a breakdown of the latest Bandhan Bank Fixed Deposit interest rates:
Bandhan Bank FD Rates (as of March 2024)
| Tenure | Regular Citizens (%) | Senior Citizens (%) |
|---|---|---|
| 7 days to 14 days | 3.00% | 3.75% |
| 15 days to 30 days | 3.00% | 3.75% |
| 31 days to less than 2 months | 3.50% | 4.25% |
| 2 months to less than 3 months | 4.50% | 5.25% |
| 3 months to less than 6 months | 4.50% | 5.25% |
| 6 months to less than 1 year | 4.50% | 5.25% |
| 1 year | 8.05% | 8.55% |
| 1 year 1 day to 1 year 9 months | 8.00% | 8.50% |
| 1 year 9 months 1 day to less than 2 years | 7.25% | 7.75% |
| 2 years to less than 3 years | 7.25% | 7.75% |
| 3 years to less than 5 years | 7.25% | 7.75% |
| 5 years to 10 years | 5.85% | 6.60% |
| Tax Saver FD (5 years lock-in) | 7.00% | 7.50% |
Why Choose Bandhan Bank FD?
Bandhan Bank’s FD scheme is designed to provide higher returns and secure investments. Here’s why it stands out:
1. Higher Interest Rates
Compared to many banks, Bandhan Bank offers one of the highest 1-year FD rates (8.55% for seniors, 8.05% for others), making it a preferred choice for investors seeking short-term gains.
2. Safe and Secure Investment
FDs in Bandhan Bank are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC), ensuring protection up to ₹5 lakh per depositor.
3. Flexible Tenure
Bandhan Bank provides tenure options ranging from 7 days to 10 years, allowing investors to choose according to their financial goals.
4. Senior Citizen Benefits
Senior citizens get an extra 0.50% interest rate on all fixed deposits, making it an ideal investment for retirement planning.
5. Premature Withdrawal Facility
Although premature withdrawal is allowed, it comes with a penalty, which investors should consider before withdrawing funds early.
see also: LIC FD Scheme: Start with ₹10,000, Get Interest Up to 6.25%
How to Open a Bandhan Bank FD?
Opening an FD in Bandhan Bank is simple and can be done online or offline. Follow these steps:
Online Process
- Visit Bandhan Bank’s official website
- Log in to your account or create a new one.
- Select the Fixed Deposit option from the menu.
- Choose the tenure and deposit amount.
- Verify details and confirm the investment.
- Download the FD receipt for records.
Offline Process
- Visit the nearest Bandhan Bank branch.
- Fill out the FD application form.
- Provide KYC documents (Aadhaar, PAN, Address Proof).
- Deposit the amount via cash, cheque, or account transfer.
- Collect the FD receipt for future reference.
see also: FD Rates: Big Opportunity for Senior Citizen.
Comparison: Bandhan Bank vs Other Banks
Bandhan Bank’s FD rates are among the highest. Here’s how it compares:
| Bank | 1-Year FD Rate (Regular) | 1-Year FD Rate (Senior Citizen) |
|---|---|---|
| Bandhan Bank | 8.05% | 8.55% |
| IndusInd Bank | 8.25% | 8.75% |
| RBL Bank | 8.00% | 8.50% |
| SBI | 6.80% | 7.30% |
| HDFC Bank | 7.00% | 7.50% |
| ICICI Bank | 7.00% | 7.50% |
Bandhan Bank FD Rates FAQs
1. What is the highest FD rate in Bandhan Bank?
The highest FD rate is 8.55% for senior citizens and 8.05% for regular customers for a tenure of 1 year.
2. Is Bandhan Bank FD safe?
Yes, Bandhan Bank FDs are insured under DICGC for up to ₹5 lakh per depositor, ensuring safety.
3. Can I withdraw my FD before maturity?
Yes, Bandhan Bank allows premature withdrawal with a penalty.
4. How can I open a Bandhan Bank FD online?
You can open it via the official website or Bandhan Bank mobile banking app.
5. Does Bandhan Bank offer Tax Saver FDs?
Yes, Bandhan Bank offers Tax Saver FDs with a 5-year lock-in at 7.00% for regular customers and 7.50% for senior citizens.
