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Bandhan Bank FD Calculator 2023

Calculate your fixed deposit maturity and returns amount with the Bandhan Bank FD calculator. The online calculator offers a reliable and convenient way to calculate your FD returns. Bandhan Bank fixed deposit calculator is incredibly easy to use, and you only need to enter the investment amount, duration, and interest rate to get the results.

Total Investment

Rate of Interest (P.a)

%

Time Period (Years)

Invested Amount

0

Est. Returns

Total Value

How to Use Bandhan Bank Fixed Deposit Calculator?

The Bandhan Bank FD calculator is a simple and user-friendly tool that helps individuals calculate the maturity amount and interest earned on their FD investments. Here are the 3 steps to use the Bandhan FD calculator:
  • Step 1 : Enter the investment amount
  • Step 2 : Select the tenure of the FD
  • Step 3 : Choose the applicable interest rate
And that’s it. Once done, you will be able to check the estimated returns along with the maturity amount.

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Bandhan Bank FD Interest and Maturity Amount Calculation Formula

Bandhan Bank FD interest rate and maturity amount can be calculated via two methods – the simple interest method and the compound interest method.

The interest and maturity amount of an FD depends on the principal amount, interest rate, and tenure. There are two methods for calculating the interest and maturity amount:

  1. Simple interest
  2. Compound interest

For Simple Interest: Maturity Amount = P(1 + (RT/100))

Interest Earned = (PR*T)/100

Here, P is the principal amount, R is the interest rate, and T is the tenure.

For Compound Interest: Maturity amount = P * (1 + r/n)^(n*t)

Interest = Maturity amount – Principal amount

Where, P = Principal amount, r = Interest rate, n = Number of times the interest is compounded per year and t = Tenure in years

Let’s understand both with an example:

Suppose you invest ₹50,000 in a Bandhan Bank FD for a tenure of 3 years with a simple interest rate of 4.5%. In this case, using the simple interest formula, your maturity amount would be

Maturity Amount = 50,000+6,750 = ₹56,750

Interest = 50,000 *3*4.5/100 = ₹6,750

The maturity amount in the case of simple interest would be ₹56,750

And, if the interest is compounded annually, the maturity amount using the compound interest formula would be:

Maturity Amount = 50,000 * (1 + (0.045/1))1^3 = ₹57,058

So, the maturity amount in the case of compound interest would be ₹57,058

Interest = ₹57,058 – ₹50,000 = ₹7,058

Benefits of Using Bandhan Bank Fixed Deposit Interest Calculator

Using Bandhan Bank’s Fixed Deposit Calculator has several benefits, as stated below –

Accurate Calculation

The FD calculator provides precise results and eliminates the possibility of errors that may occur while calculating manually.

Time-saving

Calculating the maturity amount manually can be time-consuming. However, using the FD calculator, you can obtain quick and hassle-free results with just a few clicks, saving you time.

User-friendly

The calculator is extremely easy to use and can be accessed from anywhere, anytime and on the go. Its highly responsive design ensures quick results with zero waiting time.

Frequently asked questions

The Bandhan Bank offers 6 different types of FD accounts – Standard Fixed Deposit, Premium Fixed Deposit, Tax Saver Fixed Deposit, Advantage Fixed Deposit, Dhan Samriddhi Fixed Deposit, and Super Saver Fixed Deposit. Each of these has varying minimum requirements. For the standard FD, the minimum amount is ₹1,000. The minimum tenure for an FD is 7 days, and the maximum is 10 years.

P = ₹1,00,000

r = 8% per annum

n = 1 (as the interest is compounded annually)

t = 1 year + (7 months)/12 + (20 days)/365

t = 1.64 years (approx)

Maturity Amount = P * (1 + r/n)^(nt) = ₹1,00,000 * (1 + 0.08/1)^(1.641) = ₹1,13,452

Yes, you can withdraw your FD before the maturity period, however, it will attract a penalty fee as per the bank’s terms and conditions.

Yes, TDS (Tax Deducted at Source) applies to the interest earned on FDs if the interest amount exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
Yes, you can take a loan against your Bandhan Bank FD. The interest rate charged for the loan will be lower than for personal loans.
Disclaimer : Navi does not guarantee accuracy, completeness, or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained/data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User’s own risk.

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What is Bandhan Bank Fixed Deposit Interest Rate in 2023?

Bandhan Bank FD interest rate ranges from  for senior citizens). The applicable interest rate varies depending on the tenure you choose. Here are some of the highlights of Bandhan Bank FD interest rate:

  • Interest Rate: 3.00% to 7.25%
  • Tenure: 7 days to 10 years
  • Minimum Deposit: ₹10 (for Dhan Samriddhi Fixed Deposit)
  • Maximum Deposit: No Upper Limit
  • Lock-in Period: NA

Ways to Calculate Bandhan Bank Fixed Deposit Interest and Maturity Amount

There are two ways to calculate Bandhan Bank FD interest and maturity amount –

  1. Simple interest method
  2. Compound interest method

The formula for Bandhan Bank FD calculation via simple interest method is:

Interest earned = (PRT)/100

Maturity amount = Principal  + Interest earned

Where, P = Principal amount invested, R = Rate of interest (%) and T = Tenure

For example, if someone invests ₹10,000 for 2 years at a rate of interest of 7.25% per annum.

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

= (10,000 * 7.25 * 2) / 100

= ₹1,450

Therefore, the maturity amount after 2 years would be:

Maturity amount = P + Interest earned

= 10,000 + 1,450

= ₹11,450

The formula for Bandhan Bank FD calculation via compound interest method is:

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

Interest = Maturity Amount – Principal Amount

Where,

P = Principal amount

r = Interest rate

t = Tenure in years

For example, if someone invests ₹10,000 for 2 years at a rate of interest of 7.25% per annum, compounded annually

Maturity amount = P * (1 + (R / n))^(n * T)

= 10,000 * (1 + (0.0725/1))^(1* 2)

= ₹11,502

Interest Earned = Maturity amount – Principal amount

= 11,502 – 10,000

= ₹1,502

How Can Bandhan Bank FD Calculator Help You?

  • Simple to use : Bandhan Bank fixed deposit interest rate calculator offers a user-friendly interface, ensuring easy usability.
  • Provides accurate results : The calculator provides quick and accurate results with zero waiting time, eliminating the possibility of human errors.
  • Helps plan your investments : By selecting the tenure, investment amount, and applicable interest rate, you can determine the amount or tenure that aligns with your investment goals. This tool can aid in making informed investment decisions, ensuring your financial goals are met effectively.

Factors that Affect Bandhan Bank Fixed Deposit Maturity Amount Calculation

Your maturity amount and interest income could depend on the following factors:
  • Interest rate: Bandhan Bank FD rates vary based on scheme and tenure. Senior citizens are eligible for 0.50% higher FD rates when compared to normal customers.
  • Tenure: Your investment duration or tenure will impact the maturity amount. The higher the tenure, the more returns you can clock in.
  • Principal amount : The maturity amount will also depend on the principal amount invested. If you have invested a nominal amount, your maturity amount would also be lower and vice-versa. It is essential to factor in your investment objective and goals and invest the amount that aligns with your financial goals.
You can use our Bandhan Bank FD calculator to accurately calculate your FD returns on maturity. The calculator is user-friendly and designed to provide quick and accurate results, enabling you to make informed investment decisions.
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