Bandhan Bank Senior Citizen FD Rates 2025

What is a Bandhan Bank Senior Citizen FD?

A Bandhan Bank Senior Citizen FD is a fixed deposit scheme specifically designed for individuals aged 60 years and above. Bandhan Bank offers senior citizens the option to choose from monthly, quarterly, or cumulative (interest added to the deposit and paid at maturity) payout schedules. This flexibility helps senior citizens manage their income flow according to their financial needs and comfort.

To view the latest returns offered on these deposits, you can check the current Bandhan Bank FD interest rates. Let's explore Bandhan Bank senior citizen FDs, their main features, and how to open an FD account.

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 Interest is not payable for deposits prematurely withdrawn within 7 days from the date of deposit.
• 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.

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. May 1, 2025

Bandhan Bank Senior Citizen FD ratesTax Saver Fixed Deposit

*Bandhan Bank Tax Saver FD rates w.e.f. December 4, 2023
Note: It’s advisable to compare FD interest rates across leading banks in India to choose the most suitable option for your needs.

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

   Through Internet Banking

   • Step 1: Visit Bandhan Bank’s official website and log in to your internet banking account.
   • Step 2: Navigate to the "Fixed Deposit" section.
   • Step 3: Choose the Senior Citizen FD option.
   • Step 4: Fill in the required details:
     • Deposit amount
     • Tenure
     • Nominee information
     • Maturity instructions
   • Step 5: Review all details and click “Submit” to complete the FD booking.

   Through Mobile Banking 

   • Step 1: Download and install the ‘mBandhan’ mobile app from the Google Play Store or the Apple App Store.
   • Step 2: Log in with your mobile banking credentials.
   • Step 3: Go to the “Fixed Deposit” section and select the Senior Citizen FD.
   • Step 4: Enter all necessary information, including nominee details and maturity instructions.
   • Step 5: Click “Submit” to confirm and open your FD.

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. Tax-saving FDs qualify for Section 80C, but their interest remains taxable.

Key Takeaways

Bandhan Bank Senior Citizen Fixed Deposits offer 0.50% to 0.75% higher interest than regular FDs, depending on the chosen tenure. Senior citizens have the convenience of opening an FD through online banking or by visiting a nearby branch. 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.