4,80,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 1,000* on Loans Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Bandhan Bank RD Interest Rates 2021

Bandhan Bank RD Rate of Interest, 2021

Last Updated 16th Jul 2021

Tenure General Rates Senior Citizen Rates
6 months to 364 days 5.40% 6.15%
1 year to 18 months 6.75% 7.50%
18 months 1 day to 1 year 364 days 6.75% 7.50%
5 years to 10 years 6.50% 7.25%
2 years to 3 years 6.75% 7.50%
3 years 1 day to 5 years 6.60% 7.35%
    Yes Bank
    Returns bhi, Rewards bhi
    5.5%* interest p.a + up to 1500** YES Rewardz Points on account opening
    Earn up to 50k** YES Rewardz Points in 1st year
    Exclusive offers on Demat & Lockers
    >OPEN YOUR ACCOUNT DIGITALLY NOW
    Disclaimer: For balance above INR 10 lcs to INR 1Cr. For YES FIRST customers. Terms and conditions apply. For more details please visit: www.yesrewardz.com
    Bandhan Bank RD Calculator
    Investment Offers with High Returns offerOffers
    Bank/NBFCs Rate Tenure Action
    Bajaj Finance FD6.75%60 MonthsAPPLY
    PNB Housing Finance FD6.95%60 MonthsAPPLY
    Yes Bank Savings Account5.50%N.A.APPLY

    Bandhan Bank Recurring Deposit

    • Bandhan Bank offers RD interest rates up to 6.75%
    • Interest on RD with Bandhan Bank is compounded quarterly.
    • Bandhan Bank accepts minimum deposits starting at Rs. 100.
    • For senior citizens Bandhan Bank offers RD rate upto 7.50%.
    Bandhan RD Rates - Special Features
    • Loan facility is available after 6 months of opening the RD account
    • Passbook facility is available along with your RD account
    • The deposit tenure ranges from 6 months to 120 months
    • The minimum amount can deposited in multiples of Rs. 25
    • Visit any Bandhan Bank branch to avail this service
    • TDS deductions are subject to the existing income tax rules as at the time of opening the RD account

    Bandhan Bank Recurring Deposit Schemes Types

    Based on the tenure Bandhan Bank Recurring Deposit can be classified into three types, these are:

    Short-Term RD

    Under this type of Bandhan Bank Recurring Deposit your deposit’s tenure ranges between 6 months to 3 years. Such RD is best suited for those who are looking to develop the habit of savings. 

    Medium-Term RD

    When you are not willing to commit for the long tenure and are not sure how much benefit you can get from RD, then opting for medium term recurring deposit is a good decision. It provides the right balance of flexibility and commitment to invest  so that you can assess its benefits. The tenure basically ranges between 3 years to 7 years. 

    Long-Term RD

    The long term RD is best suited when you want to earn the return on your investment but do not have the lump sum amount to invest in fixed deposit. By investing recurring deposits you get the flexibility of making monthly investments, and earn the return similar to FD. The tenure basically ranges between 7 years to 10 years.

    Bandhan Bank RD Account

    Bandhan Bank offers recurring deposit option to their customers to park their periodically generated surplus savings for a fixed tenure. A customer is required to make a deposit once into their RD account at the time of opening the account with the bank. The customer then makes periodic deposits and withdraws any money in the account during the tenure of the deposit.

    Regular RD

    • Loan facility is available after 6 months of opening the RD account
    • Passbook facility is available along with your RD account
    • The minimum tenure of this RD is 6 months
    • The minimum deposit to be made in this account is Rs. 100
    • The minimum amount can deposited in multiples of Rs. 25

    Bandhan Bank Recurring Deposit Rates

    There are some factors that affect Bandhan Bank Recurring Deposit interest rates. These are as follows:

    • Policies Framed by RBI : The change in Cash Reserve Ratio (CRR) and repo rate as directed by the RBI affect the interest rate of all banking instruments including the recurring deposit.
    • Recession – In times of recession, RBI releases funds in the market and hence injecting liquidity in the market. As a result of high liquidity and low credit demand, banks reduce the rates on RD.
    • Inflation – Inflation has a positive effect on a fixed deposit interest rate. Hence, RD rates tend to be higher in a period of rising inflation.
    • Current State of Economy – In a booming economy, people take larger credit to meet their personal and business requirements. In periods of high credit demand, banks offer higher interest rate to garner more funds through recurring deposits.

    Bandhan Bank RD Interest Calculator

    RD maturity amount that you will get depends on the following three parameters

    • Deposit amount – This is the initial amount deposited by a customer in Bandhan Bank. Higher interest rate might be offered on larger deposits. Bandhan Bank offers deposit amount starting at Rs. 100.
    • Rate of Interest- Bandhan Bank offers a higher rate of interest on recurring deposits of longer tenure and lower interest rate on deposits held for a shorter period. Highest interest rate offered by Bandhan Bank is 6.75% for deposit amount.
    • Period of deposit- Bank offers low interest rate for short tenure RDs and higher interest rate for long tenure RDs.

    Duration of Recurring Deposits with Bandhan Bank

    You can open a Recurring Deposit account with Bandhan Bank for a minimum tenure of 6 months which can go up to maximum tenure of 120 months.

    Premature withdrawal of RD with Bandhan Bank

    Premature withdrawal of RD with Bandhan Bank Bank is allowed. Bandhan Bank Bank may charge a nominal amount of penalty as per their banking norms.
    However, Partial withdrawal of RD account is not allowed.

    Penalty for delayed installment of RD with Bandhan Bank

    Bank may give you grace of some days if you delay the payment beyond the due date. In case you do not pay your installment after due date, Bandhan Bank Bank will charge a penalty as per their norms.

    Illustration: Mr. A opens a RD account for tenure of 1 year with periodic deposits of ₹ 5,000 per month at an interest rate of 6.75%. In this case, the maturity amount at the end of 1 year will be ₹ 62,227 and includes the collected principal and total interest earned on the principal amount during the period at ₹ 2,227. Similarly, you can calculate the interest and maturity amount for higher tenures by using RD calculator.

    FAQs

    What is the eligibility for opening an RD account?

    Indian residents and HUF (Hindu Undivided Families) can open RD account. NRIs can also open the RD account through NRO and NRE accounts.
    Banks provide RD scheme for minors as well, under the guardianship of parents to supervise their finances.

    What is the general tenure/duration of Bandhan Bank Recurring Deposits?

    Bandhan Bank RD can be opened for minimum 6 months to maximum tenure of 120 months.

    Is premature withdrawal allowed in RD accounts?

    The amount can only be withdrawn on maturity. In case of emergency you can break your RD before maturity, but after that your account will be closed. Banks may deduct 1 or 2 percent penalty from the interest accrued on your RD amount for the period for which the amount was with the bank.
    The minimum lock in period is 3 months and if the depositor request a premature withdrawal before that, he earns zero interest and only the principal amount will be refunded to him. Apart from cancelled interest, any incentives offered are also withdrawn.

    Is partial withdrawal of RD accounts allowed by Bandhan Bank?

    Partial withdrawal of recurring deposit is not allowed by Bandhan Bank. However, some banks offer the facility to obtain Loan or Overdraft by keeping your RD as collateral. On the other hand, premature withdrawals are allowed by post offices if you have an RD account with them for at least a year. The withdrawn amount is considered a loan, which has to be paid in lump sum.
    Premature Closure is allowed, but with some penalty.

    What exactly happens on maturity of RD account?

    On maturity of your RD account, you can ask the bank to transfer the principal amount and the accumulated interest component directly into your linked savings account. You can also invest your RD amount in fixed deposits after maturity.

    Is nomination facility available in Bandhan Bank RD account?

    Nomination facility is available in Bandhan Bank recurring deposits. Whether you open it in single name or joint name, only one nominee per account is permissible. You should ensure that the nomination is followed as per RBI rules. You can change the nominee through declaration in appropriate form.


    Notification ×
    • Home Loan

      Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.

      Apply Now
    • Personal Loan

      Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

      Check Offers
    • Gold Loan

      Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

      Apply Now
    • Loan Against Property

      Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

      Apply Now
    • Business Loan

      Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

      Apply Now
    • Fixed Deposit

      AAA rated FDs with returns as high as 6.95%.

      Invest Now
    Bandhan News - Jul 2021
    • 2021-06-14 : Bandhan Bank revises interest rates for Term Deposits
      Bandhan Bank has revised interest rates for rupee term deposits w.e.f. June 07, 2021. The new rate for a tenure of 7 days to 30 days is 3%, for 31 days to Less than 6 months the rate is 3.50%, for 6 months to less than a year, it is 4.50%. For a period of 1 year to less than 3 years, the rate is 5.50%. For a tenure of 3 years to less than 5 years, the rate is 5.25% and for 5 years to 10 years, the rate stands at 5%.
    • 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.
    • 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.
    *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
    Loader
    Please wait while your information is being processed...