In today’s financial landscape, securing your savings with a fixed deposit (FD) is a prudent choice. Bandhan Bank has recently updated its FD interest rates, offering attractive returns for both general customers and senior citizens. This article delves into the latest rates, features, and benefits of Bandhan Bank’s FD schemes, providing you with the essential information to make informed investment decisions.
Bandhan Bank’s Fixed Deposit Interest Rates
| Feature | Details |
|---|---|
| Highest Interest Rate | 8.05% per annum for general customers on a 1-year FD; 8.55% per annum for senior citizens. |
| Tenure Options | 7 days to 10 years |
| Minimum Deposit | ₹1,000 |
| Senior Citizen Benefit | Additional 0.50% interest rate for residents aged 60 and above |
| Tax Saver FD | 5-year tenure with 7.00% per annum for general customers; 7.50% per annum for senior citizens |
| Premature Withdrawal | Available with certain conditions |
| Loan Against FD | Up to 90% of the deposit amount |
Bandhan Bank’s latest FD rates make it a compelling choice for both regular savers and senior citizens seeking stable returns. With tenures as short as 7 days and interest rates reaching up to 8.55%, the bank offers a wide range of investment options to suit various financial needs. Whether you’re planning short-term savings or long-term wealth creation, a Bandhan Bank FD can be a smart move in your financial journey.
Understanding Bandhan Bank’s FD Interest Rates
Bandhan Bank offers a range of FD schemes tailored to meet diverse financial needs. Here’s a breakdown of the interest rates effective from April 1, 2025:
For Deposits Less Than ₹3 Crore
| Tenure | Interest Rate (General) | Interest Rate (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 up to 10 years | 5.85% | 6.60% |
Tax Saver Fixed Deposit
For those looking to save on taxes, Bandhan Bank offers a Tax Saver FD with a 5-year lock-in period:
- Interest Rate for General Customers: 7.00% per annum
- Interest Rate for Senior Citizens: 7.50% per annum
see also: Fixed Deposits: After 5 Years, You Will Get a Return of ₹3,69,432
Features and Benefits of Fixed Deposits
Flexible Tenure Options
Bandhan Bank provides FD tenures ranging from as short as 7 days to as long as 10 years, allowing investors to choose a period that aligns with their financial goals.
Attractive Interest Rates
With rates up to 8.05% per annum for general customers and 8.55% per annum for senior citizens, Bandhan Bank’s FDs are among the most competitive in the market.
Senior Citizen Benefits
Residents aged 60 and above enjoy an additional 0.50% interest rate on their FDs, enhancing their returns.
Minimum Deposit Requirement
Investors can start an FD with a minimum amount of ₹1,000, making it accessible for individuals across various financial brackets.
Premature Withdrawal Facility
While premature withdrawal is available, it’s subject to certain conditions and may attract penalties. It’s advisable to understand these terms before opting for early withdrawal.
Loan Against FD
In times of financial need, investors can avail loans up to 90% of their FD amount, ensuring liquidity without breaking the deposit.
How to Open a Fixed Deposit with Bandhan Bank
Opening an FD with Bandhan Bank is a straightforward process:
Online Method
- Internet Banking: Log in to your Bandhan Bank NetBanking account, navigate to the ‘Fixed Deposit’ section, and follow the prompts to open a new FD.
- Mobile App: Use the Bandhan Bank mobile application to initiate and complete the FD opening process.
Offline Method
- Visit your nearest Bandhan Bank branch.
- Fill out the FD application form.
- Submit the required documents along with the deposit amount.
Required Documents
- PAN Card
- Address Proof (Aadhaar, Passport, Voter ID, etc.)
- Passport-size photographs
see also: Scheme of Post Office, You Will Get Fixed Interest of ₹5550 Every Month
Bandhan Bank’s Fixed Deposit Interest Rates FAQs
1. Who is eligible to open an FD with Bandhan Bank?
Any Indian resident (individuals, HUFs, firms, trusts) can open an FD with Bandhan Bank.
2. Is TDS applicable on FD interest?
Yes, TDS is applicable if the interest income exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if eligible.
3. Can I open a joint FD account?
Yes, Bandhan Bank allows joint FD accounts with up to three account holders.
4. Can I renew my FD on maturity?
Yes, you can opt for auto-renewal or manually renew your FD upon maturity.
5. What happens if I withdraw my FD before maturity?
Premature withdrawal is allowed but may incur a lower interest rate and penalties.
