Bandhan Bank Fixed Deposit – 1 year, 4 months, 11 days | 8.35% Interest Rate

Bandhan Bank Fixed Deposit

Bandhan Bank offers FDs as a safe investment option with guaranteed returns. The interest rate you earn depends on the deposit amount and tenure (duration of investment). Here’s a breakdown of key points and investment options:

General Interest Rate Structure

  • Ranges from 3.00% p.a. to 7.85% p.a. for regular customers.
  • Senior citizens get an additional 0.75% p.a. on top of the regular rates.
  • Interest rates vary based on deposit tenure (see table below).

Also Read…. ICICI FD – A Comprehensive Guide to Secure Investments 2024

Investment Tenure and Interest Rates

TenureRegular FD RateSenior Citizen FD Rate
7 days to 14 days3.00%3.75%
15 days to 30 days3.00%3.75%
31 days to less than 2 months3.50%4.25%
2 months to less than 3 months4.50%5.25%
3 months to less than 6 months4.50%5.25%
6 months to less than 1 year4.50%5.25%
1 year to less than 1 year, 4 months (499 days)7.25%7.75%
Your Tenure (1 year, 4 months, 11 days or 500 days)7.85%8.35%
501 days to less than 2 years7.25%7.75%
2 years to less than 3 years7.25%7.75%
3 years to less than 5 years7.25%7.75%
5 years to up to 10 years5.85%6.60%pen_spark

Key Points to Consider:

  • The interest rate for your specific tenure (1 year, 4 months, 11 days) is attractive compared to shorter tenures.
  • Senior citizens benefit from higher interest rates.
  • Locking in your money for a longer period (like yours) typically leads to higher interest rates.

Investment Options (FD Types) Offered by Bandhan Bank:

  1. Standard Fixed Deposit: This is the most basic FD option with flexible tenures and interest rates based on the tenure chosen.
  2. Premium Fixed Deposit: This FD offers higher interest rates than standard FDs but may have certain restrictions on withdrawals or premature closures.
  3. Dhan Samriddhi Fixed Deposit: This FD caters specifically to women and may offer additional benefits like slightly higher interest rates.
  4. Advantage Fixed Deposit: This FD might come with features like overdraft facilities or linked accounts, potentially impacting interest rates.
  5. Tax Saver Fixed Deposit: This FD helps save income tax under specific sections of the Income Tax Act, but often comes with a lock-in period of 5 years and lower interest rates compared to regular FDs.
  6. Super Saver Fixed Deposit: This FD might offer higher interest rates for larger deposits or specific customer segments.

Choosing the Right FD for You:

  • Consider your investment goals and risk tolerance.
  • If you prioritize guaranteed returns and can lock in your money for a longer period, your chosen tenure (1 year, 4 months, 11 days) offers a good interest rate.
  • Explore different FD types offered by Bandhan Bank to see if any specific features align with your needs. Compare interest rates and features before making a decision.

Remember:

  • FDs are generally considered low-risk investments.
  • They might not keep pace with inflation, so consider your investment goals.
  • Always read the terms and conditions of any FD scheme before investing.

In Conclusion:

Bandhan Bank Fixed Deposits provide a secure investment option with varying interest rates based on tenure and customer category. For your specific tenure of 1 year, 4 months, 11 days, the offered rate is attractive. Carefully evaluate your needs and explore different FD types before choosing the one that best suits your financial goals.

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Vineesh Rohini

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