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Bandhan Bank RD Interest Rates 2019

Bandhan Bank offer its customers the option of opening a recurring deposit account. Courtesy the RD account, you can save a certain amount of money every month and build up a lump sum over a specific period of time.

The bank offer customers a variety of tenures. The rate of interest offered for various tenures when it comes to a RD account is in the range of 6.80% to 7.65% for the general public. Senior citizens are offered an additional interest of 0.75% p.a. for all deposit tenures.

Tenure Regular RD Interest rates (p.a.) Senior citizen RD interest rates (p.a.)
6 to 12 months 6.80% 7.55%
12 to 18 months 7.35% 8.10%
18 to 24 months 7.50% 8.25%
24 to 60 months 7.65% 8.40%
60 to 84 months 7.65% 8.40%
84 to 120 months 7.65% 8.40%

Note: The interest rates mentioned here for investments that is less than Rs.2 crore.

Bandhan Bank Short Term Recurring Deposit Interest Rates

Short-term recurring deposits are those which are opened for a tenure that ranges between 6 months to less than a year. If you invest in a RD account having a tenure between 6 months to a year, the rate of return offered by the bank is 6.80% p.a. for general public and 7.55% for the senior citizens.

Bandhan Bank Medium term Recurring Deposit Interest Rates

An RD account opened for a period that ranges between 1 year to less than 5 years falls under the bracket of medium-term recurring deposits. The rate of interest offered by Bandhan Bank for such tenures is in the range of 7.35% to 7.65% for general public. For individuals who are above the age of 60 years, interest rate offered is 8.10% to 8.40% p.a.

Bandhan Bank Medium term Recurring Deposit Interest Rates

For long term RDs, the bank offer interest of 7.65% p.a. to the general public and 8.40% p.a. to senior citizens. Long-term RDs are those which are opened for a period that ranges between 5 years to 10 years.

FAQs On Bandhan Bank Recurring Deposit Account

  1. What is the minimum amount for which a RD account can be opened with Bandhan Bank?
  2. An RD account can be opened with Bandhan bank for an amount that is as small as Rs.100.

  3. Does Bandhan Bank offer the passbook, nomination, and overdraft facility with the RD account?
  4. Yes, the bank provides the passbook, nomination, and overdraft facility with the RD account.

  5. What is maximum tenure for which an RD account can be opened with the bank?
  6. The maximum tenure for which an RD account can be opened with Bandhan bank is 10 years.

  7. Is the option of opening a single or joint RD account available?
  8. Yes, the option is provided by the bank.

  9. Do I need to submit proof of age for availing senior citizen rates?
  10. Yes, to avail senior citizen rates you will need to submit proof of age.

  11. Who is eligible to open a recurring deposit account with Bandhan bank?
  12. The following people or institutions are eligible to open a recurring deposit account with Bandhan bank:

    • Any individual or two individuals can jointly open a recurring deposit account with Bandhan bank.
    • A minor who is at least 10 years old.
    • A minor who is less than 10 years old with under the supervision of a natural or legal guardian can open a recurring deposit account with Bandhan bank.
    • For a collective group or institution to avail the facility of opening a recurring deposit account with Bandhan bank, it can be a proprietorship, a partnership organisation, a commercial organisation, a trust, association, club or a society.
    • An illiterate person can also open a RD account with Bandhan bank.
  13. What is the minimum amount that one requires to open a recurring deposit account with Bandhan Bank?
  14. The minimum amount that one requires to open a recurring deposit account with Bandhan bank is Rs.100.

  15. What is minimum term period for which the money has to be deposited in a recurring deposit account with Bandhan bank?
  16. The minimum term period for which the money has to be deposited in a recurring deposit account with Bandhan bank is 6 months.

  17. What are the different ways in which a person can open a recurring deposit account with Bandhan bank?
  18. The person who wants to open a recurring deposit account with Bandhan bank can either do it on the Bandhan bank website or can visit the nearest branch of the bank and submit the form.

  19. What are the documents to be submitted to open a recurring deposit account with Bandhan bank?
  20. The documents required for opening a recurring deposit account with Bandhan bank are:

    • Application form
    • Passport size photograph of the applicant
    • PAN card, ID card and a proof of address of the applicant
    • KYC documents if the bank asks for it.

Read More Article on Recurring Deposit

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