Bank of Baroda fixed deposit (FD) is an account that allows you to deposit your money for a fixed period of time, earning your interest at a fixed rate. It gives you a higher rate of interest than a savings bank account. Bank of Baroda FD interest rates are quite competitive and are higher than the rates on their savings deposits.
The longest permissible term offered by Bank of Baroda for FDs is 10 years. Generally, the longer the term of deposit, the higher is the rate of interest.
Bank of Baroda FD Rate of Interest:
Bank of Baroda FD rates of interest is determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
What is the current Bank of Baroda FD Interest Rate?
Current FD interest rates in Bank of Baroda are tabulated below. Here FD rates range is given for different deposit tenure from 7 days – 10 years:
Revision in Interest Rates on Retail Domestic term deposits (Below Rs. 2 crores) interest rates revised: (All figures in % per annum)
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| Bank of Baroda | 7 - 14 days | 3 | 3.5 | 2023-09-20 |
| Bank of Baroda | 15 - 45 days | 3 | 3.5 | 2023-09-20 |
| Bank of Baroda | 46 - 90 days | 4.5 | 5 | 2023-09-20 |
| Bank of Baroda | 91 - 180 days | 4.5 | 5 | 2023-09-20 |
| Bank of Baroda | 181 - 210 days | 5.25 | 5.75 | 2023-09-20 |
| Bank of Baroda | 211 - 270 days | 5.75 | 6.25 | 2023-09-20 |
| Bank of Baroda | 271 days - <1 year | 5.75 | 6.25 | 2023-09-20 |
| Bank of Baroda | 1 year | 6.75 | 7.25 | 2023-09-20 |
| Bank of Baroda | 1 year - <400 days | 6.75 | 7.25 | 2023-09-20 |
| Bank of Baroda | 400 days - <2 Years | 6.75 | 7.25 | 2023-09-20 |
| Bank of Baroda | 2 Years - <3 Years | 7.05 | 7.55 | 2023-09-20 |
| Bank of Baroda | 3 Years - <5 Years | 6.50 | 7.15 | 2023-09-20 |
| Bank of Baroda | 5 Years - <10 Years | 6.50 | 7.50 | 2023-09-20 |
| Bank of Baroda | > 10 years | 6.25 | 6.75 | 2023-09-20 |
FD interest rates of Bank of Baroda according to deposit period:
FD is a deposit of a fixed sum of money for a fixed period of time – which can vary anything from a few days to a few years – at a fixed interest rate known at the beginning of the investment.
Depending on the deposit period or tenure, these FDs are further categorised as short-term, medium-term, and long-term deposits.
You may check the updated Bank of Baroda Interest rate on FD at the Bank of Baroda official website here.
How is the Bank of Baroda FD rate of interest calculated?
FD interest rates of Bank of Baroda are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
The interest you earn on your deposited amount in FD depends on a lot of factors such as the invested amount, tenure for the deposit, rate of interest, and compounding frequency.
One of the best ways to calculate the interest earned on your Bank of Baroda FD is using the Bank of Baroda FD calculator available over the internet. It is the most hassle-free way of calculating interest.
You may Calculate the Bank of Baroda FD Interest rate by using: Bank of Baroda FD Calculator
This FD Calculator for Bank of Baroda requires some data like – your principal deposit amount, rate of interest, period (in the number of months), and interest compounding frequency. After calculation, you will get the maturity amount after the maturity period and effective yield in %.
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Click Here for Bank of Baroda FD Calculator Explore the Bank of Baroda Saving Account Calculator Click Here for Bank of Baroda RD Calculator Know more about Bank of Baroda FD Scheme: Click Here |
Information about Bank of Baroda FD Interest Rates:
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Table of Contents |
What is the Bank of Baroda FD Account?
A Bank of Baroda fixed deposit (FD) is an account that allows you to deposit your money for a fixed period of time, earning your interest at a fixed rate. It gives you a higher rate of interest than a savings bank account.
FDs are fixed-income debt securities issued by the Bank of Baroda. Putting money into an FD is like giving a loan to the bank, in return for which the bank pays you interest.
The most popular form of Term deposits are Fixed Deposits, while other forms of term Deposits are Recurring Deposit and Flexi Fixed Deposits (the latter is actually a combination of Demand deposit and Fixed deposit).
The longest permissible term offered by Bank of Baroda for FDs is 10 years. Generally, the longer the term of deposit, the higher is the rate of interest.
Bank of Baroda FD interest rates are quite competitive and are higher than the rates on their savings deposits.
Bank of Baroda FD Features:
- A wide range of tenures, ranging from 7 days to 10 years, to suit your investment plan
- The minimum amount required to open an account Rs. 1,000/-.
- Safe custody of your fixed deposit receipts
- The facility of automatic renewal
- Loan/Overdraft facility up to 95% of the deposit amount added to the accrued interest thereon (nature of requirement will not be a factor for withdrawal).
- For such loans interest shall be charged 1.50% to 1.75% (Depending on the amount of loan) over the deposit rate with monthly rest in case of depositor -borrower and in case of others the rate of interest will be a little higher depending upon the loan amount. The interest rate on the Loan against deposits of Senior Citizens shall be charged at 1.25% over the deposit rate.
- No processing fees will be charged for Loans and Advances against bank deposits.
- The Govt. of India accepts the money deposited in this plan as security.
- Deposits can be accepted as the margin money for non-fund based facilities.
- No penalty for premature payment will be levied in case of premature payment of deposits up to Rs. 5 Lakhs provided it remained with the Bank for a minimum period of 12 months.
- On pre-matured withdrawal of your deposits, interest will be calculated at 1% below the rate applicable for the period of deposits.
- Facility for auto-renewal of your deposit, in case such instructions haven’t been received for the same. This ensures that you don’t lose out on interest.
- Provision for nomination
Eligibility and Document required for Bank of Baroda FD:
Eligibility for Bank of Baroda Fixed Deposit (FD):
Below are the individuals and groups eligible for a Regular Fixed Deposit:
- Residents
- Hindu undivided families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
Document requirement for Bank of Baroda Fixed Deposit (FD):
Document requirement to apply for Bank of Baroda Fixed Deposit:
- Recent photograph
- KYC documents
Individual & Company proofs:
- PAN card
- Aadhaar Card
- Passport
- Driving License
- Voter’s ID
Partnership proofs:
- Incorporating certificate
- Authorised signatories ID proofs
- Partnership Deed
- Authorised signatories’ signatures
Hindu Undivided Family:
- Self-attested PAN card
- HUF declaration deed
- HUF’s Bank Statement
Types of Bank of Baroda Fixed Deposits:
Short Deposit
- A Bank of Baroda Fixed Deposit Scheme to earn a higher return on your savings for a tenure of less than 1 year
- Loan facility of up to 95% available against the deposit
- Nomination facility provided by the bank
- The deposit is accepted as a security by the Government department
- Also, the deposit is accepted as a margin for non-fund based facilities
- The rate of Interest on the borrowed amount is 1.5% over the deposit
- Resident Indians and HUFs are eligible
Baroda Tax Saving Term Deposit
- As the name implies this scheme has been designed keeping in mind the tax-saving factor. This scheme helps the resident individuals and HUFs to save money on tax and get maximum returns on their fixed deposit
- Interest is compounded on a quarterly basis
- Nomination facility provided by the bank
- Tax/TDS is applicable on Interest earned on the deposit
- Resident Indians and HUFs are eligible
Baroda Double Dhamaka Deposit Scheme
- This scheme provides double returns on the original investment made into the fixed deposit account.
- Loan facility is available up to 95% on the deposit
- Interest is paid at the time of maturity
- Nomination facility available
- The depositor can tax benefits under section 80C of the Income Tax Act, 1961
- General and Senior citizens are eligible
Baroda Advantage Fixed Deposits Non-Callable
- A domestic term deposit scheme where the depositor can get differential BOB FD rates over normal FD rates for a deposit amount of Rs. 15.01 lakhs and a maximum amount of Rs. 10 crores for the mentioned premature or partial withdrawal option.
- Loan facility is available up to 955 of the deposit
- Auto-renewal facility available on the deposit
- Deposit accepted as a security by the government department
- Resident Indian and HUFs are eligible for this scheme
Fast Access Deposit
- A flexible deposit scheme that allows the depositor to invest for a particular tenure and get guaranteed returns on the savings. The scheme has a range of benefits such as liquidity, security, and higher returns on the investment made
- Loan facility up to 95% available
- One necessarily needs to have a current account to avail benefits of this scheme
- Resident Indians and HUFs are eligible
BOB Suvidha Fixed Deposit Scheme
- Under this scheme, the depositor gets a combination of competitive interest rates along with easy liquidity. Customers can utilize their deposits enjoying the benefits of both, long-term as well as short-term deposits.
- Loan facility is available up to 95% on the deposit
- A nomination facility is available
- Senior citizens get an additional interest rate of 0.50% over the regular rates
- This scheme offers a flexible deposit option with no lock-in period unlike a fixed deposit
- Customers can enjoy the dual advantage of a great rate of interest as well as a flexible withdrawal limit
- Resident Indians and HUFs are eligible
Regular Income Plan
- Best fit for those who regularly require money to supplement their income every month. Interest earned on the deposit acts as an alternative source of income.
- Loan facility up to 95% is available on the deposit
- A nomination facility is available
- Interest on the deposit is credited on a quarterly basis
- Interest payments are subject to TDS
- Senior citizens get an additional 0.50% over regular rates
- Resident Indians and HUFs are eligible
Monthly Income Plan
- This scheme promises regular income either on a monthly, quarterly, or half-yearly basis
- Loan facility up to 95% is available on the deposit
- A nomination facility is available
- The monthly interest will be paid at a discounted rate
- Interest payments are subject to TDS
- Senior citizens get an additional 0.50% over regular rates
- Resident Indians and HUFs are eligible
BOB Money Multiplier Deposit
- This deposit allows the depositor to link fixed deposit account to their savings account hence giving a higher rate of interest
- Loan facility up to 95% is available on the deposit
- A nomination facility is available
- Senior citizens get an additional 0.50% over regular rates
- Interest is paid only at the time of maturity
- Resident Indians and HUFs are eligible
- One can enjoy tax benefits on deposit under section 80C of the Income Tax Act, 1961
- Resident Indians and HUFs are eligible
How to check Bank of Baroda FD maturity value?
FD is a deposit of a fixed sum of money for a fixed period of time – which can vary anything from a few days to a few years – at a fixed interest rate known at the beginning of the investment.
The maturity amount of the Fixed Deposit invested in Bank of Baroda for a specified period can be calculated by using the Bank of Baroda FD calculator available over the internet.
The Bank of Baroda FD Calculator for Bank of Baroda FD available here requires some data like – your principal deposit amount, rate of interest, period (in the number of months), and interest compounding frequency. After calculation, you will get the maturity amount after the maturity period and effective yield in %.
