Bandhan Bank 2023 Interest Rate For FD- Bandhan Bank offers annual FD interest rates between 3.0% and 8.0%. to the general public and 3.75-8.50 percent per year. to senior citizens for periods of seven days to ten years. Bandhan Bank Tax Saving FDs have an annual interest rate of 5.85 percent. for the general public and 6.60 percent annually. for senior depositors with tenures ranging from five to ten years. Additionally, the bank provides NRIs with a selection of NRO, NRE, and FCNR (B) fixed deposit products. Fixed deposits in Euro (EUR), British Pound Sterling (GBP), and US Dollars (USD) are accepted by Bandhan Bank.
The interest rate of a bank account is the cost of maintaining funds in the account. It is set by the bank and reflects its financial strength, risk, and other factors. In general, the higher the interest rate, the more expensive it is to maintain funds in the account. However, not all bank accounts have interest rates. Some may offer a fixed rate or a minimum balance requirement to maintain funds in the account. The type of bank account and its features can influence the interest rate charged by the bank.
Bandhan Bank 2023 Interest Rate For FD
For fixed deposits and savings accounts with balances under Rs 2 crore, Bandhan Bank has increased interest rates. The new rates go into effect today, August 22, according to the bank’s official website. Bandhan Bank currently caps the interest rates on savings accounts at 6.25%, while the interest rates on fixed deposits are capped at 7.50% for regular customers and 7.50% for seniors.
These interest rates, according to the bank, are applicable to rupee savings bank accounts held in both domestic and non-resident rupees. The account holder’s end-of-day information will be used to calculate daily interest. “Interest of 3.000% p.a. will be applied for amount up to Rs 1 lakh, 6,000 p.a. will be applied on the incremental balance over and above Rs 1 lakh up to Rs 10 lakh, 6.25% p.a. will be applied on the incremental balance over and above Rs 10 lakh up to Rs 2 crores, and 6,000 p.a. will be applied on the incremental balance over and above Rs 2 crores up to Rs 100 crores,” Bandhan Bank states on its website.
Bandhan Bank 2023 Interest Rate For FD Details
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About Bandhan Bank FD
Serving India’s underbanked and unbanked population is Bandhan Bank’s primary focus. Asset and liability products and services are just one example of the world-class banking solutions and financial services it provides. Customers in the urban, semi-urban, and rural areas can get regular banking services, microfinance, MSME financing, and affordable housing financing from it. Bandhan Bank was founded in 2001 as a non-profit organization that advocated for women’s empowerment and financial inclusion through the creation of sustainable livelihoods. A few years later, it became a non-banking financial company (NBFC). The size of the bank’s balance sheet is Rs. 91700 Cr as of March 31, 2020. In FY20, the bank made a profit of 3,000 Cr.
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Bandhan Bank FD Interest Rates 2023
FD Interest Rates for Domestic/NRE deposits of less than Rs 2 crore w.e.f. 6 February 2023
|Tenure||Interest Rates (% p.a.)|
|Regular Citizens||Senior Citizens|
|7 days – 14 days||3.00||3.75|
|15 days – 30 days||3.00||3.75|
|31 days – less than 2 months||3.50||4.25|
|2 months – less than 3 months||4.50||5.25|
|3 months – less than 6 months||4.50||5.25|
|6 months – less than 1 year||4.50||5.25|
|1 year – 599 days||7.25||7.75|
|600 days (1 year, 7 months, 22 days)||8.00||8.50|
|601 days – less than 2 years||7.25||7.75|
|2 years – less than 3 years||7.25||7.75|
|3 years – less than 5 years||7.25||7.75|
|5 years – 10 years||5.85||6.60|
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Bandhan Bank Tax Saver Deposit
|Tenure||Interest Rates (% p.a.)|
|Regular Citizens||Senior Citizens|
|5 years – 10 years||5.85||6.60|
Interest Rates on FCNR (B) deposits for the month of February 2023
|Tenure/Currency||Interest Rates (% p.a.)|
|1 year – less than 2 years||5.40||4.26||2.77|
|2 years – less than 3 years||5.00||4.71||3.27|
|3 years – less than 4 years||4.50||4.53||3.14|
|4 years – less than 5 years||4.35||4.26||2.95|
|5 years only||4.35||2.70||1.59|
Types Bandhan Bank Fixed Deposit Scheme
Types Bandhan Bank Fixed Deposit Scheme is one of the best bank deposit scheme available in India. It allows you to save money and earn interest on your savings by using a bank account. The Types Bandhan Bank FD scheme is suitable for individuals, families, and small businesses. With a Types Bandhan Bank FD scheme, you can earn a fixed income each month without worrying about market volatility or fluctuations.
Dhan Samriddhi Fixed Deposit (Reinvestment of Interest Component)
- Depositors can use this plan to achieve short-term objectives like going to a festival, traveling, getting married, renovating their homes, getting an education, and more.
- The interest component is reinvested, which helps depositors harness the power of compounding. Rs. 5,000
- Tenure: six months to ten years Nomination and automatic renewal are available.
- Deposits can be used for a loan or overdraft.
- Premature closure or partial withdrawal are allowed.
Standard Fixed Deposit
- The minimum deposit amount is: Tenure: Rs. 1,000 From seven days to ten years,
- the depositor receives interest payments on a quarterly or monthly basis.
- The deposit can be partially withdrawn or closed early.
- There is a facility for automatic renewal and nomination.
- There is also a facility for overdrafts and loans against deposits.
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Tax Saver Fixed Deposit
- Deposit amount: Minimum- Rs 1,000; Maximum- Rs 1,50,000 in a financial year
- Tenure: 5 years to 10 years (lock-in)
- Nomination facility is available
Advantage Fixed Deposit
- The minimum deposit amount is: Overdraft/loan facility is available against deposits Interest component is reinvested,
- thereby assisting depositors in deriving the power of compounding. Rs 1,000
- Tenure:6 months to 10 years Premature closure or partial withdrawal is permitted.
- Automatic renewal and nomination facility is available.
Premium Fixed Deposit
- Minimum sum to put down: Rs. 2 crores and higher
- Tenure: 7 days to 10 years Premature closure or partial withdrawal is permitted Loan/Overdraft facility against deposits is available Nomination facility is available Quarterly or monthly interest payout facility
Super Saver Fixed Deposit
- The following is the daily deposit amount that is available to daily small traders, wage earners, and shopkeepers: 10 rupees minimum; Maximum of Rs. 8,000 through handheld devices.
- Duration: One year. Daily doorstep collection is available. Amount can be deposited daily.
- When a certain threshold is met, funds are transferred from the savings account to a fixed deposit for a year.
- Depositors can make small withdrawals from their savings account.
- Depositors can get the Micro Bazaar Loan they need for working capital.
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Foreign Currency Non-Resident (FCNR – B) Fixed Deposit
- Currency options for depositors include Euro (EUR), Pound Sterling (GBP), and US Dollars (USD). USD 1,000; GBP 1,000; Tenure: 1,000 EUR From one year to five years, the earned principal and interest are fully repatriable. At maturity, there is a facility for automatic renewal and a facility for nomination.
NRE Fixed Deposit
- Minimum sum to put down: There is a one-year to ten-year term for Rs. 1,000,
- the principal and interest are fully repatriable.
- There is a facility for automatic renewal at maturity.
- Depositors have access to a nomination and loan/overdraft facility, and they can close their accounts early.
NRO Fixed Deposit
- Minimum sum to put down: The Rs. 1,000 loan has a term of seven days to ten years, and funds can be repatriated for up to USD 1 million per financial year.
- Interest earned is fully repatriable in the current financial year.
- A loan/overdraft and nomination facility are available to depositors.
- A premature closure facility is allowed.
- Depositors can choose to receive interest payments on a quarterly or monthly basis.
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Advantages of Bandhan Bank Fixed Deposit Calculator
The Bandhan Bank FD Calculator is an essential tool for choosing the best investment plan by comparing plans. A promising investment can be made by investors after analyzing the results. Students can learn about fixed deposit returns and the various market interest rates. The Bandhan Bank FD Calculator does the calculations for you online, so you don’t have to look up the right rates or do them manually. The Bandhan Bank FD calculator takes into account all significant factors and presents a clear and understandable final result. Its operation is simple.
- It can be accessed online.
- It demonstrates the investor’s final yield value, taking into account TDS wherever necessary.
- The result is straightforward and accurate.
How to invest in Bandhan Bank FD?
A Bandhan Bank FD account can be opened through different modes like Mobile App, Internet Banking, and offline.
To open a Bandhan Bank FD account through internet banking, follow the steps below: Log in to your Bandhan Bank NetBanking account.
- Select “Fixed Deposit” from the main menu, then choose the type of FD.
- Complete all required fields, including maturity instructions and nominee information.
- Click “Submit” to finish the deposit opening process.
Through Mobile App – Bandhan Bank App
Follow the steps mentioned ahead to open an FD account via Bandhan Bank App-
- Sign in to the Bandhan Bank app that you downloaded.
- Select the kind of FD you want from the “Fixed Deposit” selection.
- Complete the maturity instructions, nominee details, and all necessary information.
- Click “Submit” to finish the deposit opening process.Opening Bandhan Bank FD Offline
One must visit the Bandhan Bank branch closest to them in order to open an offline Bandhan Bank FD account. Complete the Bandhan Bank FD application form and bring the amount of your deposit along with all of the required documents. The Bandhan bank will issue an FD receipt if the application is processed successfully.
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