Bandhan Bank Recurring Deposit Interest Rates 2024

Bandhan Bank offers Recurring deposit (RD) account in order to instill a habit of regular savings within the investors. In this RD scheme, you can invest a fixed amount every month for a fixed tenure. Once can make these installments to a Bandhan Bank RD account either by an ECS mandate, Standing Order, or by regular direct remittance.

A recurring deposit is an investment cum savings option for those who want to save regularly over a certain period of time and earn a higher interest rate. It is a type of term deposit which allows one to save a fixed amount of money every month systematically. If you are familiar with SIP in Mutual Funds, RD works similarly in banking. Every month, a fixed amount of money is deducted either from a savings or a current account. And, at the end of the maturity, investors are paid back their invested money with accrued interest.

A user willing to open an RD account with Bandhan Bank can choose any amount and term according to your convenience.

Bandhan Bank RD Interest Rates 2024

Here's the interest rates offered by Bandhan Bank according to the tenure -

The above interest rates are for investments less than INR 2 crore

Bandhan Bank RD Calculator

A Recurring Deposit calculator is a good way of calculating maturity amount on RD. You can follow this method to estimate your RD amount on maturity.

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Bandhan Bank RD Account Features

• The minimum opening balance for the Bandhan Bank RD account is INR 100 and in multiples of 1 rupees thereafter
• The tenure for recurring deposit is a minimum of six months to a maximum of 10 years
• Tax Deducted at Source (TDS) is applicable
• Bandhan bank RD scheme offers nomination Facility
• Premature closure of recurring deposit at Bandhan bank is allowed
• Bandhan Bank RD account offers overdraft facility after six months
• The Passbook facility is available
• The option for single or joint account holding is available on Bandhan Bank RD scheme

Documents to Open Bandhan Bank RD Account

• Bank application form
• Passport size photograph
• PAN Card
• ID card
• Address proof

Why Investing in SIP is Beneficial?

• Systematic Investment plan (SIP) is a way to put your money in mutual funds. Investment can be done on a periodic Basis - daily, weekly, monthly or quarterly

• You need to deposit a small amount of money at every interval. The minimum amount can be as low as INR 500

• SIPs can help in all kinds of investment goals, whether short- or long –term, depending on the frequency of investment, funds chosen and other factors

• SIPs offer flexible instalment plans of daily, weekly, monthly, quarterly etc

• Returns can be earned better here. The longer you invest via a SIP in mutual funds, especially in an Equity Fund, the higher are the chances to earn good returns

• To Cancel SIP, the investors can simply close their investment and withdraw their money without any penal charges

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