Bandhan Bank FD calculator

The Bandhan Bank fixed deposit calculator helps to determine the interest your money will receive if it is invested in this deposit with the bank. Bandhan Bank is one of India’s leading financial institutions with a proven track record of delivering excellent value to its customers. The fixed deposit from this financial institution comes with an attractive interest rate ensuring you get the best return from your investment.


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What is a Bandhan Bank fixed deposit calculator?

An FD interest calculator from Bandhan Bank is an online financial tool that helps you find detailed investment information, including the principal amount at maturity after interest has been compounded at a pre-determined interval.

With the help of the Bandhan Bank fixed deposit interest calculator, you can get an idea of how much interest you’ll receive on the money you’ve put into one of their fixed deposits.

Types of Bandhan Bank Fixed Deposit Schemes

Given below are different types of Fixed Deposit Schemes offered by Bandhan Bank for its customers:

Plan Name

Features

Standard Fixed Deposit

  • Short-term or long-term deposit options are available, and interest is paid monthly or quarterly.
  • Tenure: 7 days to 10 years, depending on your investing strategy.
  • Available options include early closure or partial withdrawal.
  • Renewing automatically.
  • Nomination facility is available.
  • Convenient deposit opening is available via phone, internet, or at the nearby branch.
  • Minimum deposit of Rs. 1,000.

Tax Saver Fixed Deposit

  • Simple investing strategy under section 80C for tax savings
  • Low minimum deposit requirements of just Rs. 1,000 and annual limits of Rs.1,50,000
  • 5 to 10 years of tenure (lock-in)
  • Nomination facility is available.
  • Convenient deposit opening is available via phone, internet, or at the nearby branch.

Advantage Fixed Deposit

  • Tenure: 6 months to 10 years, depending on your investment strategy
  • It is possible to close early or partially.
  • Choice of a loan or overdraft against a fixed deposit.
  • Nomination facility is available.
  • Convenient deposit opening is available via phone, internet, or at the nearby branch.
  • Minimum deposit of Rs.1,000.

Dhan Samriddhi Fixed Deposit

  • Compound interest invested in the same plan
  • Ideal for achieving short-term objectives such as marriage, festivals, travel, education, house improvements, and more
  • Ensure that your finances grow in the correct way and quickly.
  • Tenure: 6 months to 10 years, depending on your investment strategy
  • It is possible to close early or partially.
  • Choice of a loan or overdraft against a fixed deposit.
  • Nomination facility is available.
  • Convenient deposit opening is available via phone, internet, or at the nearby branch.
  • Minimum deposit of Rs.5,000.

Premium Fixed Deposit

  • Minimum deposit of Rs.2 crores and above
  • Tenure: One week to 10 years
  • It is possible to close early or partially.
  • Choice of a loan or overdraft against a fixed deposit.
  • Nomination facility is available.
  • Convenient deposit opening is available via phone, internet, or at the nearby branch.

Super Saver Fixed Deposit

  • Tenure: 1 year
  • Specifically designed for daily wage workers, small business owners, and retailers
  • Intended to instil the practice of saving and making provisions for higher capital needs
  • The Bank arranges for daily doorstep collection.
  • Small withdrawals from a savings account are possible.
  • When funds reach a certain level, they are transferred to a fixed deposit with a specific term.
  • Account holders who need working capital can apply for a Micro Bazaar Loan.
  • Minimum deposit od Rs.10

How to use a Bandhan bank FD calculator?

Using the Bandhan Bank fixed deposit calculator is straightforward. But here is a small guide to help you better understand it.

Step 1: Visit the Bandhan Bank website to access the calculator.

Step 2: Enter the investment amount, tenure and interest rate and select the payout option.

Step 3: You will get to see the total earned interest and the final maturity amount. Also, if you opt for a regular payout, you will get that value as well.

How is Bandhan Bank FD interest calculated?

The interest income from a Bandhan Bank FD can be calculated in three ways, and they are –

Simple fixed deposit interest

Simple interest in the case of FDs calculates the total earning on the deposit for a set period. It only takes into account the primary deposit, tenure and interest rate, and no other variables.

Formula

Simple Interest = (P * R * T)/ 100

Simple interest is calculated: P is the initial investment amount, R is the Bandhan Bank FD interest rate in percentages, and T is the Bandhan Bank FD tenure.

Compound fixed deposit interest

Compound interest in FD is where the interest earned at the end of every year gets reinvested in the deposit. As a result, the principal investment figure increases, and the total interest earned on it.

Formula

A = P (1+r/n) ^ (n * t)

A stands for the amount at maturity, P for the investment, r for the interest rate (in decimals), n for the number of times interest is compounded, and t for the years the investment will last.

Now, if you don’t want to get into this trouble of segregating simple and compound interest, then using the ‘A = P (1+r/n) nt’ formula is the way forward. Here –

  • An equal the maturity amount 
  • P equals the amount you have put in.
  • r equals the interest rate
  • n equals the number of times the interest has been compounded.
  • T equals the duration of your deposit

Benefits of using a Bandhan Bank FD calculator

Mentioned below are some of the important benefits of Bandhan Bank FD Calculator:

  • Making rapid and well-informed investment decisions is made easier using the Bandhan Bank Fixed deposit interest rate calculator, which provides instant return estimates.
  • The term, interest rate, frequency of compounding, and investment amount all impact the interest earned on Bandhan Bank FD investments. The Bandhan Bank fixed deposit calculator can be used to compare the findings and determine which factor impacts the interest rate most to make a sounder decision.
  • Bandhan Bank provides a variety of fixed deposit programs, and individuals can compare the maturity amount of various banks and NBFCs using the Bandhan Bank FD calculator.
  • The outcomes of theBandhan Bank FD calculator can also be contrasted with the returns from other types of investments. So, prospective investors can examine which investment offers the best returns and plan accordingly.

The accessibility and ease of use of the Bandhan Bank fixed deposit calculator have greatly helped investors in making the right financial decision. So, if you plan on opening an FD with Bandhan Bank, use this calculator to your advantage.

Bandhan Bank FD Calculator : FAQs

What is Bandhan Bank's FD rate?

The interest rate on fixed deposits offered by Bandhan Bank ranges from 3% to 7.25% annually. For senior citizens, the FD rates range from 3.75% to 7.50%.

What is Bandhan Bank's highest fixed deposit interest rate?

For investors below 60 years of age with a duration of 1 to 5 years, Bandhan Bank's highest FD rate is 7.25%. But, for senior citizens, the highest Bandhan Bank FD interest rate is 7.50%.

How secure is the Bandhan Bank?

Since the Bandhan Bank deposits are covered by the Deposit Insurance Scheme up to Rs.5,00,000, Bandhan fixed deposits are regarded as secure.

Does Bandhan Bank offer a pre-authorised withdrawal option?

Investors may prematurely withdraw their deposits from Bandhan Bank. The Bandhan Bank, however, levies a fee for early withdrawal. Bandhan Bank policies govern premature withdrawal terms and conditions.