This Article is From Dec 27, 2019

Bandhan Bank Pays 8% Interest To Senior Citizens On 1-Year FD. Compare Other Rates Here

Bandhan Bank FD Interest Rate: Bandhan offers 11 maturity options for retail FDs. It offers an 8% return rate to senior citizens on one-year FDs.

Bandhan Bank Pays 8% Interest To Senior Citizens On 1-Year FD. Compare Other Rates Here

Bandhan Bank FD Rate: The lender pays an 8% return to senior citizens on a fixed deposit of one year

Bandhan Bank FD Rate: Bandhan Bank pays interest rates to the tune of 3.5-8.15 per cent to customers on fixed deposits up to Rs 2 crore. These fixed deposits - also known as retail term deposits - are available in 11 maturity options ranging from seven days to 10 years at the private sector lender. Bandhan Bank pays slightly higher returns to senior citizen retail depositors compared to other customers. For example, on a fixed deposit up to Rs 2 crore of one year, Bandhan Bank pays interest at the rate of 8 per cent to senior citizen customers and 7.25 per cent to other customers, according to its website - (Also Read: Compare Bank FD Rates Paid By Peers Here)

Bandhan Bank pays the following interest rates on retail fixed deposits:

Bandhan Bank Fixed Deposit Rates

Maturity PeriodInterest Rate (With Effect From September 16)
PublicSenior Citizen
Seven to 14 days3.5%4.25%
15 to 30 days4%4.75%
31 days to less than two months4%4.75%
Two months to less than three months4%4.75%
Three months to less than six months4.5%5.25%
Six months to less than one year6.8%7.55%
One year to 18 months7.25%8%
Above 18 months to less than two years7.25%8%
Two years to less than three years7.4%8.15%
Three years to less than five years7.35%8.1%
Five years to up to 10 years7.25%8%
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(Bandhan Bank FD Interest Rates: On fixed deposits of two years, Bandhan Bank gives a 8.15 per cent return to senior citizens and 7.4 per cent to other customers, according to its website)

Investment in fixed deposits with a maturity period of five years offers income tax benefit up to Rs 1.5 lakh per financial year under Section 80C of the Income Tax Act. Interest income, however, is subject to income tax.