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Bandhan FD Calculator

Bandhan Bank Fixed Deposit Calculator 2022

Last Updated 06th Jan 2022

Bandhan Bank FDs have tenures ranging from 1 year 1 day to 2 years 11 months 4 days with maximum rate of interest of 5.50%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.25%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 3.00% 3.75% ₹ 1,00,058 - ₹ 1,00,144
15 days to 30 days 3.00% 3.75% ₹ 1,00,123 - ₹ 1,00,308
31 days to 1 month 29 days 3.50% 4.25% ₹ 1,00,297 - ₹ 1,00,692
2 months to 2 months 29 days 3.50% 4.25% ₹ 1,00,582 - ₹ 1,01,047
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Bandhan Bank Fixed Deposit Calculator

Bandhan Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded 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. Banks may allow a higher interest rate on larger deposits. Bandhan Bank offers a deposit amount in the range of Rs. 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 5.50% for deposit amount corresponding to a deposit tenure of 1 year 1 day to 2 years 11 months 4 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 3.00% for a 1 year 1 day FD and a rate of 5.50% for a 2 years 11 months 4 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 - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.00%. 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 a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

Bandhan Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- 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.
  • Cumulative- 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.

How is Bandhan Bank FD Rate Calculated?

Bandhan Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

Bandhan Bank FD Maturity Calculation for 5 Year

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.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in Bandhan Bank FD for a 5-year tenure at an interest rate of 5.50% for depositors below 60 years and 6.25% for senior citizens.The maturity schedule of Bandhan Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.50% for Citizens below 60 years and at 6.25% 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
2022 ₹ 5,614 ₹ 1,05,614 ₹ 6,398 ₹ 1,06,398
2023 ₹ 5,930 ₹ 1,11,544 ₹ 6,807 ₹ 1,13,205
2024 ₹ 6,263 ₹ 1,17,807 ₹ 7,243 ₹ 1,20,448
2025 ₹ 6,614 ₹ 1,24,421 ₹ 7,706 ₹ 1,28,154
2026 ₹ 6,986 ₹ 1,31,407 ₹ 8,199 ₹ 1,36,353

Bandhan Bank FD Calculator Formula

Along with an 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

Other Investment Calculators

FAQs

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

You can earn a maximum interest of 5.50% on Bandhan Bank fixed deposits.

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.You can also use Bandhan Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. 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.

Can I withdraw my premature FD from Bandhan Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends.

How can I calculate Bandhan Bank premature FD amount?

To calculate premature FD amount you can use Bandhan Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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Bandhan News - Jan 2022
  • 2021-04-13 : Bandhan Bank’s collection efficiency ratio at 96% in Q4
    Bandhan Bank reported an overall collection efficiency of 96% for the quarter ending March 2021. Total advances which include retail loans like home, personal, business, car, two-wheeler education and doctor loan along with business and mudra loans grew by 21% at ₹87,054 crores. Deposits which includes fixed and recurring deposits grew by 37% at ₹77,972 crores. Further, CASA deposits increased by 61 per cent at ₹33,827 crores.
  • 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%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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