Bandhan Bank senior citizen FD rates are typically 0.50% to 0.75% higher than regular FD rates.The bank provides flexible deposit tenures ranging from 7 days to 10 years, with interest rates for senior citizens ranging between 3.75% and 8.25% per annum, based on the deposit amount and tenure chosen.
Bandhan Bank FD Interest Rates for Senior Citizens
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.
Information About
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits & Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.1% (TAX-FREE)
Returns After Tax
7.1%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
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*For annual premium upto ₹5 Lacs
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
Maturity Period
Senior Citizen Rate (% p.a.)
7 days to 14 days
3.75
15 days to 30 days
3.75
31 days to less than 2 months
4.25
2 months to less than 3 months
5.25
3 months to less than 6 months
5.25
6 months to less than 1 year
5.25
1 year
8.25
1 year 1 day to 1 year 9 months
8.15
1 year 9 months 1 day to less than 2 years
7.75
2 years to less than 3 years
7.75
3 years to less than 5 years
7.75
5 years to up to 10 years
6.60
*Bandhan Bank senior citizen FD rates w.e.f. May 1, 2025
Bandhan Bank Senior Citizen FD ratesTax Saver Fixed Deposit
FD Type
Interest Rate for Senior Citizens
Tax Saver Fixed Deposit
7.50%
*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.
FD interest rates India have fallen consistently over the last 12 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years
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.
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.
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.
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023 All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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.
What is the minimum deposit amount for the Bandhan Bank Senior Citizen FD?
The minimum deposit to open a Standard Fixed Deposit at Bandhan Bank is ₹1,000. Tenures range from 7 days to 10 years.
Can I take a loan against my Bandhan Bank Senior Citizen FD?
Yes, Bandhan Bank offers loans or overdrafts up to 90% of your Senior Citizen FD amount. The interest rate is typically 1.50% to 2.00% above the FD rate.
Is there any particular Bandhan Bank FD scheme for senior citizens to save tax?
Yes, Bandhan Bank offers a 5-year Tax Saver Fixed Deposit. Senior citizens can claim a tax deduction of up to ₹1.5 lakh per annum under Section 80C. The interest rate for senior citizens on this FD is currently 7.50% p.a.
Do Bandhan Bank senior citizens get a TDS exemption on FD interest?
Senior citizens (aged 60 and above) at Bandhan Bank can avoid TDS by submitting Form 15H, provided their total income for the financial year is below the taxable limit. Submitting the form at the start of each financial year ensures that no TDS is deducted from their interest income.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)
** Fixed deposit rate applicable for 5 year's 1 day to
10 years for investment amount less< 2 Crore ( Not for senior citizens).
*** PPF interest rate applicable for 15 years
for investment amount upto 1.5 Lac
+ Trad plans with a premium above 5 lakhs
would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
## The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ