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Senior Citizens Fixed Deposit Interest Rates in Bandhan Bank

Updated on: Sep 1st, 2023

As individuals enter their golden years, financial stability becomes paramount. Recognising this need, Bandhan Bank extends special privileges to senior citizens, primarily through enhanced interest rates on Fixed Deposits (FDs). These preferential rates ensure that senior citizens receive a higher return on their savings, allowing for a more comfortable and secure retirement.


Bandhan Bank’s commitment to this demographic is evident in its competitive Senior Citizen FD Rates. This blog delves deep into these rates, shedding light on the advantages and features Bandhan Bank offers its esteemed senior clientele. Join us as we explore this special financial offering.

Features of Senior Citizen FD

Enhanced Interest Rates: Senior citizens typically receive a bonus interest rate on top of the regular FD rates. The specific rate hinges on the bank's current offerings.

Qualification: Only individuals 60 or older can establish a senior citizen FD account.

Duration: Depositors can choose from a diverse range of FD durations, usually between 7 days and 10 years.

Early Withdrawal: Although penalties may apply, senior citizens often benefit from more accommodating terms for premature FD closures.

Borrowing Options: Like other depositors, senior citizens have the privilege of securing loans against their FDs.

Beneficiary Assignment: The bank allows a beneficiary to inherit the FD funds after the account holder's passing.

Tax Deduction at Source (TDS) Implications: Earnings from interest are taxable under Indian tax regulations. Yet, by submitting Form 15H, eligible senior citizens can avoid TDS deductions.

Automatic Renewal: IDBI, among other banks, possibly features an automatic renewal mechanism, ensuring the FD's continuation post-maturity unless directed otherwise.

Deposit Limits: The deposit range for a senior citizen FD can differ. While a minimum threshold is often set, a maximum limit might be absent.

Unique Offerings: Periodically or based on bank initiatives, exclusive perks or attributes tailored for senior citizens may be presented.

Interest Rates for Senior Citizens

INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 6th February 2023

Maturity Periods
(Pre-Mature Withdrawal Allowed)

Less than ₹ 2 Crore (Senior Citizen)

7 - 14 Days


15 - 30 Days


31 - 45 Days


46 - 90 Days


91 - 120 Days


120 Days to 365 Days


365 Days to 599 Days


600 days (1 year, 7 months, 20 days)


601 days to less than 2 years


2 Years to less than 3 years


2 Years less than 5 years


5 Years upto 10 Years


Eligibility Criteria

The eligibility criteria for the senior citizen FDs is that they need to be at least or above the age of 60 on the day of opening the FD account. They typically need to be residents to open a senior citizen FD; However, NRIs can also open accounts through NRE and NRO accounts.

Documents Required

The documentation required is similar to that of a normal FD account opening. One metric being essential is your age proof.


Identity Proofs

  • Aadhar Card 
  • Passport
  • Driver’s License


Address Proof

  • Gas Bill 
  • Utility Bill 
  • Bank Statement 
  • Cancelled Cheque

Age proof is mandatory to avail of a Senior Citizen FD account.


Who qualifies as a senior citizen at Bandhan Bank?

Generally, individuals aged 60 years and above are considered senior citizens by most banks, including Bandhan Bank.

Is there a specific tenure for senior citizen FDs at Bandhan Bank?

Bandhan Bank offers a range of tenures for FDs. However, the special interest rate for senior citizens is applicable across various tenures.

Can I open a joint FD account with a senior citizen rate?

Yes, but typically, the primary account holder must be a senior citizen to avail of the special rates.

Earn once in a decade
returns on FD

Lock in returns as high as
8.35% before they go down

Top Banks Senior Citizen FD Rates

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