Bandhan Bank Senior Citizen FD Rates 2026

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 Rates for Senior Citizens

Here are the Bandhan Bank FD interest rates for various deposits with different tenures effective from June 20, 2026:

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

*Bandhan Bank senior citizen FD rates w.e.f. June 20, 2026

Bandhan Bank Senior Citizen FD rates, Tax Saver Fixed Deposit

*Bandhan Bank Tax Saver FD rates w.e.f. June 20, 2026

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 using your credentials
   • Step 2: Go to the 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 the 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, the 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 sweep-in/sweep-out facility is 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

Senior citizens can open a Fixed Deposit with Bandhan Bank either online or by visiting a branch. They usually get 0.50% to 0.75% extra interest, and the exact amount depends on the tenure chosen. The tenure starts from as short as 7 days to as long as 10 years, and pick how you want to receive your interest, whether every month, every three months, or directly at maturity. If you ever need money urgently, you don't have to break your FD, as you can take a loan against your FD instead, and it also offers a sweep-in facility that helps manage your savings account and FD together.