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Bandhan Bank FD Calculator

Bandhan Bank Fixed Deposit Calculator 2020

Last Updated 17th Sep 2020

Bandhan Bank FDs have tenures ranging from 1 year 1 day to 1 year 5 months 25 days with maximum rate of interest of 6.25%. Interest rates for senior citizens are higher than the normal rates and ranges upto 7.00%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 3.25% to 4.00% ₹ 1,00,062 - ₹ 1,00,153
15 days to 30 days 3.75% to 4.50% ₹ 1,00,154 - ₹ 1,00,370
31 days to 1 month 29 days 3.75% to 4.50% ₹ 1,00,318 - ₹ 1,00,733
2 months to 2 months 29 days 3.75% to 4.50% ₹ 1,00,624 - ₹ 1,01,109
Bandhan Bank FD Maturity Calculator
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Bandhan Bank Fixed Deposit Calculator

Bandhan Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Bandhan Bank. Bank may allow higher interest rate on larger deposits. Bandhan Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Bandhan Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Bandhan Bank is 6.25% for deposit amount corresponding to a deposit tenure of 1 year 1 day to 1 year 5 months 25 days.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 3.25% for a 1 year 1 day FD and a rate of 6.25% for a 1 year 5 months 25 days FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.25%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Bandhan Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

Bandhan Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, Bandhan Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Bandhan Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in Bandhan Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Bandhan Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Bandhan Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in Bandhan Bank FD for a 5-year tenure at an interest rate of 6.00% for depositors below 60 years and 6.75% for senior citizens. The maturity amount for this deposit amount is ₹ 1,34,686 and the total interest earned is ₹ 34,686 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 39,750 which is higher. The maturity schedule of Bandhan Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 6.00% for Citizens below 60 years and at 6.75% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2020 ₹ 2,005 ₹ 1,02,005 ₹ 2,256 ₹ 1,02,256
2021 ₹ 6,259 ₹ 1,08,264 ₹ 7,079 ₹ 1,09,335
2022 ₹ 6,643 ₹ 1,14,907 ₹ 7,569 ₹ 1,16,904
2023 ₹ 7,051 ₹ 1,21,958 ₹ 8,093 ₹ 1,24,997
2024 ₹ 7,484 ₹ 1,29,442 ₹ 8,653 ₹ 1,33,650
2025 ₹ 5,243 ₹ 1,34,685 ₹ 6,099 ₹ 1,39,749

Bandhan Bank FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Bandhan Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

FAQs

What is the highest interest earned on Bandhan Bank fixed deposit?

You can earn a maximum interest of 6.25% on Bandhan Bank fixed deposit.

How is Bandhan Bank FD interest calculated?

The formula to calculate interest on Bandhan Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in Bandhan Bank?

The growth of Bandhan Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Bandhan Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in Bandhan Bank.

What are the minimum and maximum amounts that I can invest in an Bandhan Bank FD?

The minimum investment limit in Bandhan Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


Bandhan News - Sep 2020
  • 2020-07-16 : Bandhan Bank Q1 profit falls 32% at ₹550 crore
    Bandhan Bank posted a 32% drop in net profit at ₹550 crores for the quarter ended June 30, 2020, against ₹804 crores in the corresponding period last year. The Bank net interest income backed by retail loans like home, personal, gold, car and two-wheeler along with business loans and mudra loans grew by 15% to Rs 1,811 crore. In addition to this, the bank deposit which includes fixed and recurring deposits increased by 35.30% year-on-year to Rs 60,610 crore.
  • 2020-02-27 : Bandhan Bank to add 250 new banking outlets
    RBI relaxation spurred the Bandhan Bank to add 250 new banking outlet in the next one month. The increase in the branch is expected to bode well for business loans and retail loans like home and personal loans. Further, it will boost the Fds and Rds.
  • 2020-02-13 : Bandhan Bank revises interest rates for Term Deposits
    Bandhan Bank has revised interest rates for rupee term deposits w.e.f. Feb 13, 2020. The new rates for a tenure of 7 days to 14 days is 3.50%, for 15 days to less than 3 months the rate is 4.00%, for 3 months to less than 6 months the rate is 4.50%, and for 6 months to less than a year, it is 5.40%. For a period of 1 year to less than 3 years, the rate is 6.75% it is 6.60% for a tenure of 3 years to less than 5 years and 6.50 % up to 10 years.
  • 2020-01-09 : Bandhan Bank revised FD rates
    Bandhan Bank revised its FD rates which are in effect from 8 January 2020. Fixed deposits rates for 7 to 14 days is 3.50%, for 15 to days to 3 months it is 4%, for 3 months to 6 months the rate is 4.50% and rate for 6 months to 1 year is 6.70%. Further, FD rate for long tenors of 1 to 3 years stands at 6.95% and 3 to 10 years stands at 6.75%.
  • 2019-10-24 : Bandhan Bank earns profit in Q2
    Bandhan Bank reportedly earned a net profit near 100 percent in the second quarter of the present fiscal year. The reported net profit is Rs 487.65 crores. The bank claims that the resultant profit is due to the total amount of deposits made in the quarter, which increased to 49.26% to Rs 49,195 crores.
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