• Bandhan Bank FD Tax Saver Scheme

    Bandhan Bank offers the Tax Saver Fixed Deposit Scheme that allows you to enjoy the tax saving benefits under Section 80C of the Income Tax Act, 1961. The FD scheme offers nomination facility and can be invested in to for a period of 5 years to 10 years. You need to make a minimum investment of Rs.1,000 to open the account. At present, the bank offers an interest of 5.00% p.a. for investments of less than Rs.2 crore for the general public. Senior citizens are eligible for an additional interest rate of 0.75% p.a.

    Interest Rates on Bandhan Bank FD Tax Saver Scheme

    The rate of interest offered by the bank for the Bandhan Bank FD Tax Saver Scheme is 5.00%* p.a. for general public and 5.75%* p.a. for senior citizens.

    *Note: The rates of interest mentioned here are effective from 1 August 2021. The rates are subject to change at the discretion of the bank.

    Features and Benefits of Bandhan Bank FD Tax Saver Scheme

    The features and benefits of the Yes Bank Tax Saver Fixed Deposit Scheme can be summed up as follows:

    Account type Term deposit
    Amount

    Minimum: Rs.1,000

    Maximum: Rs.1.5 lakh

    (in one financial year)

    Period

    Minimum: 5 years

    Maximum: 10 years

    Interest rate*

    General citizens: 5.00% p.a. for an investment amount of up to Rs.2 crore

    Senior Citizens: 5.75% p.a. for an investment amount of up to Rs.2 crore

    Premature withdrawals Not Available
    Loan or Overdraft Facility Available
    Nomination Available

    *Note: The rates of interest mentioned here are effective from 1 August 2021. The rates are subject to change at the discretion of the bank.

    Bandhan Bank FD Tax Saver Interest Calculator

    The Bandhan Bank FD Tax Saver Interest Rate Calculator allows you to ascertain your maturity amount at the end of your tenure. Through this online tool, you can directly enter your deposit amount, the current rate of interest, and the tenure of maturity and process the data to find out the maturity amount. You can consider checking the Bandhan Bank FD Interest Rates before you use the calculator to figure out the returns on your investment.

    How to open a Bandhan Bank FD Tax Saver Account

    In order to open a FD Tax Saver account with Bandhan Bank online, you can simply follow the steps which are mentioned below:

    • Step 1: Visit the official website of Bandhan Bank at www.bandhanbank.com.
    • Step 2: From the main menu on the home page, navigate to the ‘Deposits’ option under the ‘Products’ section and click on it.
    • Step 3: On the new web page, click on the ‘FD Tax Saver’ option.
    • Step 4: Scroll down and click on the ‘Apply Now’ button.
    • Step 5: You will be redirected to a new web page wherein you will be required to fill in a form with your personal details, such as name, email ID, mobile phone number, city of residence, and pin code.
    • Step 6: Click on the ‘Submit’ button to forward your request. An executive of the bank will get in touch with you and help you out with the rest of the process.
    • Step 7 (optional): On the same page, scroll down to find the account opening forms for different types of customers. You can download the forms that apply to you from the list that follows and fill them up before meeting the bank representative to speed up the process.

    Alternatively, if you are an existing customer of Bandhan Bank and you have an active internet banking portal, you can log in to the same and open the Bandhan Bank FD Tax Saver Account directly from the portal.

    Key information before opening Bandhan Bank FD Tax Saver Account

    Listed below are some of the most important information that you need to know before opening a tax saver FD account with Bandhan Bank:

    Documents Required*
    • Application Form(s) (as per requirement)
    • Proof of identity: Aadhaar card, PAN card, passport, voter’s ID, driving licence, etc.
    • Proof of address: Aadhaar card, PAN card, passport, voter’s ID, bank statement, bank account passbook, utility bills, driving licence, etc.
    • Passport-sized photographs of the applicant
    Benefits of Yes Bank Tax Saver FD
    • Facility of nomination.
    • Easy account opening process.
    • Choose between Traditional Investment Plan and reinvestment Plan.
    • Loan or overdraft facility is available.
    • Low minimum balance.
    • Lucrative rates of interest.

    *Note: The list of documents is indicative. You might be required to provide additional documents for the process as per the requirement of the bank.

    FAQs on Bandhan Bank FD Tax Saver

    1. What is the Traditional Plan (FD – Standard) offered by Bandhan Bank?

      The Traditional Plan (FD – Standard) is an investment plan wherein you earn interest on monthly or quarterly basis as per your choice. The maturity tenure for this plan ranges from 7 days to 10 years.

    2. What is the Reinvestment Plan (FD – Advantage) offered by Bandhan Bank?

      The Reinvestment Plan (FD – Advantage) is an investment plan wherein you earn compound interest on quarterly basis and the same is reinvested along with the principal amount. The maturity tenure for this plan ranges from 6 months to 10 years.

    3. Can I make a premature withdrawal from my Bandhan Bank FD Tax Saver account?

      No, you cannot make a premature withdrawal from the tax saver FDs. The lock-in period for the Bandhan Bank FD Tax Saver scheme is 5 years to 10 years.

    4. What other methods can I use to open a Bandhan Bank FD Tax Saver Fixed Deposit account?

      Bandhan Bank allows you to use a number of different methods to open a FD account. You can use internet banking or phone banking to open your account. Alternatively, you can also visit the nearest branch office of the bank or submit the application form for the bank representatives to get in touch with you.

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