Bandhan Bank offers an FD scheme for quick returns within a short tenure, attracting investors interested in something safe. With ₹89,000 maturity assured in 4 months with this FD scheme, it is suitable for those who want to safely park their money with assured returns.
What is Bandhan Bank FD?
A Fixed Deposit (FD) with Bandhan Bank is a financial instrument wherein investors deposit a lump sum for a fixed tenure at a pre-determined rate of interest. While savings accounts accrue interest, FDs guarantee returns with a higher interest rate and are best suited to risk-averse investors. Bandhan Bank FDs carry the credibility of the Bank and its regulatory compliance, guaranteeing the safety of the principal investment.
Key Features of the 4-Month FD Scheme
This FD scheme boasts the short tenure of just four months. Depending on the principal invested and interest prevailing during the tenor, investors deposit a specified amount and get ₹89,000 at maturity. The interest is compounded quarterly, meaning wealth gets built up faster. Another attractive feature of this scheme is the flexibility in terms of the amount which one can offer, making it suitable for small as well as big investors.
Eligibility Criteria
This Bandhan Bank FD scheme is open to any Indian resident eligible to deposit the minimum amount. In other words, both single and joint account holders are eligible. With senior citizens receiving slightly higher interest rates, the said FD is more attractive to retirees seeking short-term investment opportunities. Minors can also invest through a guardian, who ensures the scheme is inclusive and widely accessible.
How to Invest
Bandhan Bank FD can be easily invested in via off- and online channels. An investor can drop by any Bandhan Bank branch and make the deposit there, or else use the bank’s online banking. A fixed deposit receipt is issued upon investment, serving as proof of investment and an important document for tax purposes. The online method is especially convenient, providing quick access to tracking the FD and maturity amount.
Returns and Interest Rates
The FD scheme is guaranteed to pay returns. The rate being discussed here is the rate set at the time of forming the deposits. This particular 4-month FD has the return we can calculate, wherein a deposit will eventually mature to ₹89,000, which makes it a predictable and reliable investment. At a relatively higher rate, senior citizens receive enhanced returns over a shorter period. Since the maturity amount is guaranteed, an investor can plan his finances comfortably without any fear of market or interest rate fluctuations.
Tax Implications
Bandhan Bank FD interest is taxable as per the investor’s income tax slab. TDS applies if the interest exceeds the limit prescribed by the government. An investor should, therefore, factor in taxes while evaluating net returns. Despite being taxed, the FD remains attractive for its short tenure and guaranteed returns, especially to someone who wants liquidity in a few months.
Why Bandhan Bank FD?
Bandhan Bank fixed deposit (FD) may be seen as a conservative option. The very short maturity period of four must be taken into account for building funds that may be needed suddenly or for meeting milestone-related financial objectives. Furthermore, the assurance of the maturity amount and Bank’s credibility offers solace to the investors. This is one of those FD schemes preferred by elders who look for risk-free avenues with assured returns.
Conclusion
If you are looking for a safe, short-term possession with absolute surety of returns, the Bandhan Bank 4-Month FD shall be your perfect choice. Fully backed by Bandhan Bank, promising a maturity amount of ₹89,000 with flexible deposit options, this scheme enables the investor to grow monies fast and securely. Hence, this scheme being a combination of quick returns and financial security, will stand as a strong supporter for both new as well as seasoned investors.
