Bandeira is a Brazilian municipality located in the state of Minas Gerais. Its population as of 2020 was estimated to be 4,766 people living in a tot…Bandeira is a Brazilian municipality located in the state of Minas Gerais. Its population as of 2020 was estimated to be 4,766 people living in a total area of 484 km². The city belongs to the mesoregion of Jequitinhonha and to the microregion of Almenara.