Bandhan Bank FD Interest Rates

About Bandhan Bank 

Bandhan Bank was established on August 23, 2015, evolving from an NGO to an NBFC and ultimately becoming a universal bank. Its primary mission is to serve the under-banked segments, offering accessible banking solutions to individuals and businesses of all sizes. Guided by the philosophy of “Aapka Bhala. Sabki Bhalai.” (Your benefit. Everyone’s welfare.), the bank focuses on inclusive banking, expanding financial access while maintaining a customer-centric approach.

 Among its key offerings, Bandhan Bank Fixed Deposits stand out as a popular and reliable investment option. The FD schemes provide competitive interest rates for both regular and senior citizens, catering to different tenures. These deposits combine safety, assured returns, and flexible options, making them an attractive choice for individuals seeking secure avenues to grow their savings.

Bandhan Bank FD Rates 

Note: The data is as of September 13, 2024

Features and Benefits of Bandhan Bank Fixed Deposit

• Bandhan Bank Fixed Deposits offer completely paperless account opening with Aadhaar and PAN.
• Video KYC enables secure, contactless verification without visiting a branch.
• They provide short-term and long-term deposit options with flexible interest payout frequencies.
• High-value deposits are supported with tenures ranging from 7 days to 10 years.
• Partial withdrawal or premature closure is available for eligible deposits.
• Tax benefits are offered for deposits with specified lock-in periods.
• Compounded interest options help grow money faster over the chosen tenure.

Types of Bandhan Bank FD Schemes

Neo+ Digital Fixed Deposit

• Fully online and paperless account opening using Aadhaar and PAN
• KYC verification completed securely via video call
• No prior relationship with Bandhan Bank is required
• Flexible options for short-term or long-term deposits
• Suitable for both tax saver and non-tax saver investments

Standard Fixed Deposit

• Allows short-term or long-term investment based on individual needs
• Interest can be received monthly or quarterly
• Provides attractive returns on savings
• Helps make idle funds work efficiently
• Minimum deposit requirement is ₹1,000

Premium Fixed Deposit

• Designed for high-value deposits with guaranteed returns
• Tenures available from 7 days to 10 years
• Safe and secure investment option for large amounts
• Partial withdrawals or premature closure permitted
• Suitable for long-term wealth accumulation

Tax Saver Fixed Deposit

• Offers tax benefits under applicable laws
• Five-year lock-in period ensures disciplined savings
• Provides attractive interest along with tax advantage
• Maximum deposit allowed per financial year is ₹1,50,000
• Minimum deposit requirement is ₹1,000

Advantage Fixed Deposit

• Compounded interest helps grow savings faster
• Flexible tenure options from 6 months to 10 years
• Attractive interest rates enhance investment growth
• Nomination facility available for account security
• Suitable for medium to long-term financial goals

Dhan Samriddhi Fixed Deposit

• Compounded interest reinvested in the same scheme for growth
• Ideal for achieving short-term financial goals
• Helps save for occasions like marriage, festivals, or travel
• Focused on high returns within a short period
• Minimum face value required is ₹5,000

Term-wise Bandhan Bank Fixed Deposit Rates

Short-Term Fixed Deposits

These FDs range between 7 days to less than a year, offering interest rates from 3.00% to 8.05% for regular customers and 3.75% to 8.80% for senior citizens. This type of FD can be suitable for short-term savings and quick liquidity.

Medium-Term Fixed Deposits

These FDs range from 1 year to less than 5 years, with an interest rate of 7.25% for regular customers and 7.75% for senior citizens. This can be a suitable option for planned expenses over the medium term.

Long-Term Fixed Deposits

These FDs range from 5 years to 10 years, offering 5.85% for regular customers and up to 6.60% for senior citizens. This can be suitable for long-term wealth creation with stable and assured returns.

How to Invest in a Bandhan Bank Fixed Deposit?

Internet Banking

• Log in to your Bandhan Bank NetBanking account.
• Navigate to the ‘Fixed Deposit’ section and select the FD type you want.
• Enter all required details, including nominee information and maturity instructions.
• Click ‘Submit’ to complete the FD account opening process.

Mobile App – Bandhan Bank App

• Download and log in to the Bandhan Bank App.
• Go to the ‘Fixed Deposit’ option and choose the preferred FD type.
• Fill in all necessary information along with nominee and maturity details.
• Tap ‘Submit’ to finalise the deposit.

Offline Mode (Branch Visit)

• Visit your nearest Bandhan Bank branch.
• Complete the FD application form and submit it with the required documents and deposit amount.
• Once processed, you will receive a fixed deposit receipt as confirmation.

Eligibility for Opening an Bandhan Bank FD Account

• Resident individuals
• Hindu Undivided Families (HUFs)
• Non-Resident Indians (NRIs)
• Partnership firms
• Minors (under guardianship)

Documents Required to Open Bandhan Bank FD Account

• PAN Card
• Passport-sized photographs
• Form 15G or 15H (if applicable)
• Address proof (Aadhar Card, Voter ID, Passport, electricity bill, etc.)
• Identity proof (PAN Card, Aadhar Card, Driver’s license)

Note: The specific requirements might vary slightly depending on the type of FD account (e.g., for individuals, HUFs, or firms) and whether you are an existing or new customer of the bank. If you're an existing customer, the process is often simpler.

Tax on Bandhan Bank Fixed Deposit

Investments in Bandhan Bank’s Tax Saving FD offer tax benefits of up to ₹1,50,000 per financial year under Section 80C. Other FDs do not provide tax benefits.

Interest earned on all FDs is taxable according to the investor’s income tax slab. TDS is applicable at 10% if annual interest exceeds ₹40,000, and ₹50,000 for senior citizens. If PAN details are not provided, TDS is charged at 20%.

Premature Closure of Bandhan Bank Fixed Deposit

Bandhan Bank allows premature withdrawal of most fixed deposits, except for tax-saving FDs. Premature withdrawal attracts a penalty, which varies as per Bandhan Bank’s terms and conditions.