Bank of Baroda offers fixed deposit schemes to individuals, firms, cooperates, HUFs, etc. for short-term as well as for long term periods. There are different types of schemes offered by the bank with varied features and attractive rates of interest. Let us have a look at Bank of Baroda FD Rates in detail.
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| Tenure | Bank of Baroda FD Interest Rates (p.a.) | |
| Days/Years | Regular Citizens | Senior Citizens |
| 7 days to 14 days | 4.50% | 5.00% |
| 15 days to 45 days | 4.50% | 5.00% |
| 46 days to 90 days | 4.75% | 5.25% |
| 91 days to 180 days | 5.50% | 6.00% |
| 181 days to 270 days | 6.00% | 6.50% |
| 271 days & above and less than 1 year | 6.00% | 6.50% |
| 1 year | 6.45% | 6.95% |
| Above 1 year to 400 days | 6.60% | 7.10% |
| Above 400 days and up to 2 years | 6.55% | 7.05% |
| Above 2 years and up to 3 years | 6.45% | 6.95% |
| Above 3 years and up to 5 years | 6.25% | 6.75% |
| Above 5 years and up to 10 years | 6.25% | 6.75% |
| 444 days (Only for Baroda Samriddhi Deposit Scheme) | Discontinued | Discontinued |
Note – The Interest rates are applicable with effect from August 31st, 2019 on deposits below Rs. 2 crore.
| Tenure | Interest Rate |
| For 5 years | 6.25% |
| Above 5 years to up to 10 years | 6.25% |
Note – The Interest rates are applicable with effect from August 31st, 2019 on deposits below Rs. 2 crore.
| Tenure | Interest Rate |
| 1 year | 6.45% |
| Above 1 year to 400 days | 6.60% |
| Above 400 days and up to 2 years | 6.55% |
| Above 2 years and up to 3 years | 6.45% |
| Above 3 years and up to 5 years | 6.25% |
| Above 5 years and up to 10 years | 6.25% |
| 444 days (Only for Baroda Samriddhi Deposit Scheme) | Discontinued |
Note – The Interest rates are applicable with effect from August 31st, 2019 on deposits below Rs. 2 crore.
| Maturity Period | USD | GBP | EUR | YEN | CAD | AUD |
| 1 year to less than 2 years | 2.65% | 1.47% | 0.00% | 0.13% | 3.00% | 1.34% |
| 2 years to less than 3 years | 2.39% | 1.25% | 0.00% | 0.08% | 2.15% | 1.23% |
| 3 years to less than 4 years | 2.22% | 1.22% | 0.00% | 0.06% | 2.09% | 1.23% |
| 4 years to less than 5 years | 2.17% | 1.20% | 0.00% | 0.04% | 2.06% | 1.32% |
| 5 years | 2.14% | 1.19% | 0.00% | 0.04% | 2.03% | 1.36% |
Note – The Interest rates are applicable with effect from September 1st, 2019 on deposits below Rs. 2 crore.
Bank of Baroda provides its customers with a good variety of fixed deposit schemes so as to contain their financial goals as per their affordability. Bank offers the following types of FD schemes:
1. Short Term Deposit Scheme
This scheme by Bank of Baroda provides customers with the option of investing their money for a short duration of time amounting to less than 1 year.
| Particulars | Details |
| Tenure | 7 days – less than 1 year |
| Min. Deposit Amount | Rs.1000 |
| Rate of Interest | Compounded quarterly; paid half-yearly |
| Rates for Senior Citizens | Additional 0.50% interest (for deposits up to Rs. 1 crore) |
| Premature Withdrawal | Available (after 1 year) |
| Loan against FD | Yes |
| Features |
|
2. Long Term Deposits
Bank of Baroda offers different long term schemes for those who have idle cash and wish to invest in fixed deposits for a period of more than 1 year. Minimum deposit amount required to invest in these schemes is set at as low as Rs. 100.
Schemes available under long term deposits:
This is a non-callable FD scheme which means once a deposit is made in the account there is no facility to withdraw money before maturity. Further details about the plan are given here:
| Particulars | Details |
| Tenure | 12 months – 120 months |
| Min. Deposit Amount | Rs. 15,01,000 |
| Rate of Interest | Compounded quarterly; paid half yearly |
| Bank of Baroda FD Rates for Senior Citizens | Additional 0.50% interest (for deposits up to Rs. 1 crore) |
| Premature Withdrawal | Not available |
| Loan against FD | Yes; up to 85% of outstanding balance |
| Features |
|
BOB Suvidha is all about the convenience of the customers. This fixed deposit scheme provides liquidity to the investor as the deposit amount invested in the scheme can be partly prepaid. Refer the table below for further details about the scheme:
| Particulars | Details |
| Tenure | 12 months – 60 months |
| Min. Deposit Amount | Rs. 5, 000 |
| Rate of Interest | Compounded quarterly; paid half yearly |
| Rates for Senior Citizens | Additional 0.50% interest (for deposits less than Rs. 1 crore) |
| Premature Withdrawal | Available (after 12 months) |
| Loan against FD | Yes; up to 95% of outstanding balance |
| Features |
|
| Particulars | Details |
| Tenure | 60 months – 120 months |
| Min. Deposit Amount | Rs. 100 |
| Rate of Interest | Compounded quarterly |
| Rates for Senior Citizens | Additional 0.50% interest (for deposits less than Rs. 1 crore) |
| Premature Withdrawal | Available |
| Loan against FD | Yes; up to 85% of outstanding balance |
| Features |
|
3. Capital Gain Account Scheme, 1988
This scheme is designed to help customers avail tax exemption for capital gains. Capital gain is basically any income that is received by sale of capital assets like property (land or house), cars, stocks, etc. and such an income is taxable. If the proceeds from such sale are deposited in this scheme, then it becomes non-taxable.
| Particulars | Details |
| Tenure | 12 months – 120 months |
| Min. Deposit Amount | Rs. 1000 |
| Rate of Interest | Compounded quarterly |
| Rates for Senior Citizens | No preferential rates |
| Premature Withdrawal | Available; strict rules apply |
| Loan against FD | NA |
| Features |
|
Most of the FD schemes by Bank of Baroda provide the facility to withdraw a particular amount from the deposit before the date of maturity. This facility is termed as premature withdrawal facility. If the FD has been in force for a period of 12 months, no penalty shall be levied for deposits up to Rs. 5 lakh. Except for Baroda Advantage FD (Non-callable) scheme, all other schemes provide this facility with certain terms and conditions to abide.
Depositors are given the option to take loan against their FD in order to recuperate from a financial requirement. The bank provides loan facility for up to 95% of the deposit amount (upper limit may vary for some schemes ). Depositor shall be charged with rate of interest of up to 1.75% over the deposit rate. This rate may be higher in certain cases. For senior citizens, interest rate shall be discounted.
Before narrowing down a specific scheme, it is highly advisable to check the returns that one may get from making an investment in a fixed deposit scheme offered by Bank of Baroda. To ascertain this, customers are advised to use the Bank of Baroda FD calculator. This calculator is available free of cost at the website of Paisabazaar and can be accessed here. Investors will be required to provide details like deposit amount, Bank of Baroda FD Rate and deposit tenure to calculate their potential earnings and compare it with other bank FD rates as well.
To apply for fixed deposit schemes offered by Bank of Baroda, one must ensure to keep the following set of documents ready to be produced as and when the bank asks for it:
Please note that this is only an indicative list with basic necessary documents. The bank may ask for further details as and when found necessary.
All the mentioned fixed deposit schemes can be opened using either of the two main options available, i.e. online and offline.
Online
Under this option, customers have the choice to open an FD account using the website of the bank or go for its mobile application.
Download the Baroda M Connect + which is available for Android, Apple as well as Windows mobile users. Sign up/sign in to the app to open an FD account. Customers can also apply for fixed deposit using the official website of Bank of Baroda.
Offline
For those who wish to go the traditional way, there is always the option of applying offline, i.e. directly at the branch office of the bank. Simply walk in to the nearest branch along with the required documents and get registered for an FD with Bank of Baroda.
Q. Do all FD schemes by Bank of Baroda provide premature withdrawal facility?
A. No. Baroda Tax Advantage (Non-Callable) scheme does not provide the facility to withdraw amount before maturity.
Q. What is a non-callable FD?
A. A non-callable FD is a deposit scheme where the investor is not given the option to withdraw money from the account before maturity.
Q. What is the highest Bank of Baroda FD rate?
A. Currently Bank of Baroda is offering maximum of 6.60% rate of interest for the tenure of above 1 year to 400 days.
Q. How often do FD rates change?
A. Since interest rates are variable Bank of Baroda FD rates also fluctuate whenever there is a change in the market. Frequency of such changes cannot be determined.
Q. If the current FD rate is lower than the rate at the time of investing, which of the two shall be applicable at the time of maturity payment?
A. The investor shall get returns based on the rates at which FD was signed.
Q. What is Baroda Samriddhi Deposit scheme?
A. Baroda Samriddhi scheme was a type of FD by Bank of Baroda in which tenure of 444 days was offered with option to invest up to Rs. 99.99 lakh. It came with two sub-types of callable deposits and non-callable deposits.
Please note that the scheme is not available any more.
| Bank of Baroda Revises Fixed Deposit Rates |
| 4th September, 2019 Bank of Baroda revises its fixed deposit interest rates across all maturities with effect from 31st August 2019. The latest fixed deposit rates ranges between 4.50% to 6.60% for maturities between 7 days to 10 years for deposits below Rs. 2 crore. However, the bank continues provide 0.50% additional interest rate to the senior citizens. |
| Bank of Baroda Reduces Fixed Deposit Rates |
| 20 July, 2019 Bank of Baroda has reduced the fixed deposit interest rates across all maturities with effect from 20th July 2019. For fixed deposits having a 1 year maturity period, the interest rate has reduced from 6.70% to 6.45% and for fixed deposits having a maturity period between 400 days and up to 2 years, the bank reduced the interest from 6.70% to 6.45%. Bank of Baroda offers the highest rate of 6.60% on fixed deposits having a maturity period of above 1 year to 400 days. |