Bank of Baroda offers Fixed Deposit schemes to individuals both for a short term period as well as for a long term period. There are different types of schemes offered by the bank with varied features and attractive rates of interest. Let us have a look at the various schemes on offer:
Bank of Baroda FD Rates 2018
Bank of Baroda Interest Rate on Term Deposits & NRO Deposits
|
FD Tenure |
Interest Rates (in %) |
| 7 days to 14 days | 4.50% |
| 15 days to 45 days | 4.50% |
| 46 days to 90 days | 5.75% |
| 91 days to 180 days | 6.25% |
| 181 days to 270 days | 6.30% |
| 271 days & above and less than 1 year | 6.40% |
| 1 year | 6.60% |
| Above 1 year and upto 2 Years | 6.65% |
| Above 2 Years and upto 3 Years | 6.50% |
| Above 3 Years and upto 5 Years | 6.50% |
| Above 5 Years and upto 10 Years | 6.50% |
Note: Bank of Baroda does not offer additional interest rates for senior citizens and staff members. The rates mentioned above are for deposits made below Rs 1 crore.
Types of Fixed Deposit Schemes
- Short Deposit
- Baroda Maha Utsav Deposit Scheme
- Fast Access Deposit Scheme
- BOB Suvidha Fixed Deposit Scheme
- Regular Income Plan
- Monthly Income Plan
- Regular Income cum Recurring Deposit
- Term Deposit
- Baroda Tax Saving Term Deposit
- Recurring Deposit
Bank of Baroda Short Fixed Deposit for a short tenure of less than 12 months with the following features:
- Overdraft or loan against deposits is allowed up to a maximum of 95%
- Interest rate on the borrowed amount is 1.5% over the deposit rate with monthly
- Deposit is accepted as a security by Government departments and also as a margin for non-fund based facilities
- Nomination facility is available
- Minimum deposit amount is Rs.1000
- Minimum deposit tenure is 7 days
- Senior citizens are allowed 0.50% extra rate of interest for deposits above Rs.10, 000
- If interest earned is more than Rs.10, 000, it will be subject to TDS
Bank of Baroda Maha Utsav Fixed Deposit Scheme for the Festive Season.
A Bank of Baroda Double Dhamaka fixed deposit scheme from bank of baroda where the maturity proceeds are more than double the original investment. The features are:
- Individuals (single or joint) can open the account
- Interest rate for general public is 7.30% and for senior citizens is 7.80%
- Minors above the age of 10 years can open the account with a guardian
- Account can be opened in the name of clubs, associations, educational institutions, partnership and joint stock companies and any other institutions
- Minimum deposit amount is Rs.5000
- Premature withdrawal facility available at nominal charges
- Nomination facility is available
- TDS will be applicable on the earned interest as per the rules
- Overdraft or loan against deposits is allowed
A scheme providing liquidity with the following features:
- Overdraft or loan against deposits are allowed
- Minimum deposit amount is Rs.10, 000
- Minimum deposit tenure is 12 months
- Nomination facility is available
- Interest is calculated on a compounded basis quarterly
- Deposits can be withdrawn prematurely without any penalty
- TDS is applicable on interest earned
A flexible deposit scheme with the following benefits:
- Partial withdrawal facility in the multiples of Rs.1000
- Senior citizens are allowed 0.50% extra rate of interest
- Overdraft and loan against deposits is allowed
- Minimum deposit amount is Rs.5000
- Minimum deposit tenure is 12 months
- Nomination facility is available
- Interest is calculated on a compounded basis every quarter
- Deposits can be withdrawn prematurely without any penalty
- TDS is applicable on interest earned
A deposit plan which promises regular incomes monthly, quarterly or half-yearly. The features are as follows:
- Overdraft or loan against deposits is allowed
- Senior citizens are allowed 0.50% above base interest rate
- Minimum amount of deposit is Rs.1000
- Minimum deposit tenure is 12 months
- Nomination facility is available
- Interest is calculated on a compounded basis quarterly
- Deposits can be withdrawn prematurely without any penalty
- TDS is applicable on interest earned
A deposit scheme which provides regular interest income monthly. The features are:
- Overdraft or loan against deposits is allowed
- Senior citizens are allowed 0.50% above the base interest rate
- Minimum deposit amount is Rs.1000
- Minimum deposit tenure is 12 months and the maximum is 10 years
- Nomination facility is available
- Interest is calculated on a compounded basis quarterly
- Deposits can be withdrawn prematurely without any penalty
- TDS is applicable on interest earned
A plan promising regular income with the following features:
- Overdraft or loan against deposits is allowed
- Senior citizens are allowed 0.50% above the base interest rate
- Minimum amount of deposit is Rs.1000
- Minimum deposit tenure is 12 months and maximum tenure is 10 years
- Nomination facility is available
- Interest is calculated on a compounded basis quarterly
- Deposits can be withdrawn prematurely without any penalty
- TDS is applicable on interest earned
A fixed deposit scheme for longer tenures. The features are as follows:
- Overdraft or loan against deposits is allowed
- Deposits are accepted as a security by Government departments
- Deposits can be withdrawn prematurely without any penalty
- Nomination facility is available
- Minimum amount of deposit is Rs.1000
- Minimum tenure of deposit is 12 months
- Senior citizens are given a 0.50% higher rate of interest
A deposit scheme designed to save tax under Section 80C. the features are:
- Minimum tenure of deposit is 5 years
- Minimum amount of deposit is Rs.100
- Interest Rate for deposits of 5 years – 7.40% and for deposits of 5 – 10 years – 7.40%
- Premature withdrawal of the deposit is not allowed before the completion of 5 years except in case of death of the depositor
- Loan or overdraft cannot be availed against the deposit
- TDS is applicable on the interest earned
- Nomination facility is available
- All resident individuals (single or jointly) and HUFs can open this account.
A scheme where deposit is required to be made monthly. The features are as follows:
- Overdraft or loan against deposits is allowed
- Nomination facility is available
- Minimum amount of deposit is Rs.100
- Minimum tenure of deposit is 6 months
- Interest is compounded quarterly and paid on maturity with the principal amount
- Premature withdrawal of the deposit is allowed
- Baroda Samriddhi Quarterly Recurring Deposit
- Baroda Samriddhi Half-yearly Recurring Deposit
- YathaShakthi Jama Yojana
Before investing in a fixed deposit scheme, a depositor should use the FD calculator to find out the maturity amount payable at the completion of tenure. This calculation helps depositors to plan their investments wisely to increase the interest amount received after maturity.
For all reinvestment schemes, users should use the compound interest calculator to check the maturity amount they will receive in the end. Paisabazaar provides a range of calculators to users who can check their interest and maturity amount before investing. Users can also use the Bank of Baroda fixed deposit calculator and just enter the principal amount and tenure to get the results without entering the interest rates. It helps in getting exact amount even if they do not know the rate of interest offered by the bank for a specific scheme.
