Bandhan Bank Senior Citizen FD Rates 2025

What is a Bandhan Bank Senior Citizen FD?

A Bandhan Bank Senior Citizen FD is a guaranteed returns investment scheme where individuals aged 60 years or above invest money for a specific period and earn higher Bandhan Bank FD interest rates. The bank offers options to choose interest payout options: monthly, quarterly, or cumulative (interest added to the deposit and paid at maturity). The varying tenures and payout flexibility help senior citizens manage their income flow according to their financial needs and comfort.

Bandhan Bank FD Interest Rates for Senior Citizens 

Here are the Bandhan Bank FD interest rates for various deposits with different tenures:

Bandhan Bank Senior Citizen FD rates, Retail Domestic / Non-Resident Rupee Term Deposit

*Bandhan Bank senior citizen FD rates w.e.f. September 01, 2025

Bandhan Bank Senior Citizen FD rates, Tax Saver Fixed Deposit

*Bandhan Bank Tax Saver FD rates w.e.f. August 09, 2025

How to Open a Bandhan Bank Senior Citizen FD?

Opening a Bandhan Bank Senior Citizen FD is a straightforward process, with both online and offline methods available for convenience.

1. Online Method

   • Step 1: Netbanking or mBandhan Application: Access your Bandhan Bank account either using your credentials
   • Step 2: Go to Fixed Deposit Section: Once logged in, go to the "Fixed Deposit" section.
   • Step 3: Select and Enter Details: Choose the "Senior Citizen FD" option. You will then be prompted to enter all the required information. 
   • Step 4: Payment Details: Enter the information like the deposit amount, desired tenure, nominee details, and instructions for maturity.
   • Step 5: Review and Confirm: Carefully review all the information you have entered. If everything is correct, click on "Submit" to complete the process. 
   • Step 6: Confirmation: Your FD will be created, and you will receive a confirmation.

2. Offline Method

   • Step 1: Locate and visit your nearest Bandhan Bank branch.
   • Step 2: Request and fill out the Fixed Deposit application form for senior citizens.
   • Step 3: Attach the required documents:
     • PAN card
     • Aadhaar card
     • Proof of age
     • Address proof
     • Passport-size photographs
   • Step 4: Submit the form along with the deposit amount (via cheque or through your linked Bandhan Bank savings account).
   • Step 5: Upon successful verification, the bank will issue an FD receipt.

Taxation on Bandhan Bank Senior Citizen FD Interest

• Interest earned on Bandhan Bank Senior Citizen Fixed Deposits is taxable and added to your total income under "Income from Other Sources."
• From April 1, 2025, TDS is deducted only if annual interest exceeds ₹1,00,000. Senior citizens can submit Form 15H to avoid TDS if their income is below the taxable limit.
• Under Section 80TTB, senior citizens can also claim a deduction of up to ₹50,000 on interest from bank and post office deposits.
• You can also invest up to ₹1,50,000 per financial year in a Bandhan Bank Tax Saver Fixed Deposit and claim a corresponding tax deduction under Section 80C of the Income Tax Act. Remember, their interest remains taxable.

Key Benefits of Bandhan Bank Senior Citizen FD

Bandhan Bank offers several benefits to senior citizens, some of which include:

• Flexible Investment Amount: Bandhan Bank fixed deposits, including those for senior citizens, start from ₹1,000. There is no maximum limit, except for Premium and Dhan Samriddhi FDs, which are suitable for both small and large investors.
• Auto-Renewal Facility: Bandhan Bank offers senior citizens the convenience of automatically renewing their fixed deposit upon maturity. The deposit continues at the prevailing interest rate, and seniors can provide clear instructions on the renewal period or amount, eliminating the need to visit the branch.
• Premature Withdrawal: Bandhan Bank allows senior citizens to withdraw their fixed deposits before maturity if needed. However, a 1% penalty on the interest earned may apply in case of early closure. Interest is not payable for deposits prematurely withdrawn within 7 days from the date of deposit.
• Loan Against FD: In case of a financial emergency, you can avail a loan of up to 90% of your FD amount, providing liquidity without the need to prematurely close the deposit.
• Sweep-in Facility: Bandhan Bank offers a sweep-in/sweep-out facility for senior citizens. It links their savings account with a fixed deposit, starting with a minimum FD of ₹25,000. The sweep-in feature moves surplus funds from the savings account to the FD to earn higher interest. The sweep-out feature transfers funds back to the savings account in multiples of ₹1,000 when needed, ensuring easy access to money without penalties.

Key Takeaways

Bandhan Bank Senior Citizen Fixed Deposits can be opened conveniently online or offline. Senior citizens are typically offered 0.50% to 0.75% higher interest than regular FDs, depending on the chosen tenure. Depositors can select flexible tenures ranging from 7 days to 10 years, receive interest payouts at their preferred intervals (monthly, quarterly, or cumulative), and avail loans against their FD. Bandhan Bank also provides a sweep-in facility for efficient fund management.