Bandhan Bank - it is an Indian commercial bank that concentrates on the underbanked and underpenetrated sectors of the country. Bandhan Bank is also the country's first example of a microfinance institution transitioning into a universal bank.
The bank today provides a wide range of asset and liability products and services for both micro and mainstream banking. Its asset schemes are also inclusive of retail loans, which include a sizable portfolio of microloans, as well as the micro, small and medium enterprise ('SME') and small enterprise loans. It has a strong presence in underserved East and North East India. In addition, the bank also offers its customer's RD accounts.
Customers of Bandhan Bank have the option of opening a recurring deposit account. You could also save a set amount of money each month in an RD account and accumulate a lump sum over a set length of time.
Customers can choose from a choice of loan terms. When it comes to RD accounts, the rate of interest offered for various tenures ranges from 4.50% p.a. to 5.60% p.a. for the general public. Senior persons are eligible for an additional interest rate of 0.75% per year on all deposit terms.
Here is a table that represents the Bandhan Bank recurring deposit interest rate:
Period |
Bandhan Bank RD interest rate for general customers |
Bandhan Bank RD rates for senior citizens |
6 months - less than 12 months |
4.50% |
5.25% |
12 months - 18 months |
5.75% |
6.50% |
18 months 1 day - less than 24 months |
5.75% |
6.50% |
24 months - less than 36 months |
6.25% |
7.00% |
36 months - less than 60 months |
6.25% |
7.00% |
60 months - 120 months |
5.60% |
6.35% |
You can apply for an RD in one of three ways:
Q1. What is the lowest deposit amount required to start a recurring deposit account with Bandhan Bank?
The minimum deposit amount required to start a recurring deposit account with Bandhan Bank is Rs.100.
Q2. Is it possible to open a single or joint RD account?
Yes, the bank offers this choice.
Q3. What are the various methods for opening a recurring deposit account with Bandhan Bank?
A Bandhan Bank RD account can be opened by applying on the bank's official website, visiting the local office, or phoning 033-6633 3333 or 1800 258 8181.
Q4. What documents are needed to open an RD account?
The following documents are required:
Q5. Is the passbook, nomination, and overdraft facility available with the RD account at Bandhan Bank?
Yes, the RD account comes with a passbook, nomination, and overdraft facility from the bank. After three months, the overdraft facility is available.