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Bank of Baroda Fixed Deposit Rate
Fixed Deposit (FD) is an investment instrument wherein money is parked for a pre-determined period for an agreed rate of return. The investor has the option of choosing monthly, quarterly and annual calculation of interest rates. This has remained one of the most popular investment avenues for generations now.
Fixed deposits can be opened with a minimum deposit amount of Rs. 100, there is no maximum limit applicable for most banks. The tenure can range between 7 days to 10 years. In certain cases, such as minor accounts, the tenure can be extended to over 15 years or upto 20 years.
Bank of Baroda Fixed Deposit
Fixed deposit accounts offered by Bank of Baroda are an excellent means to grow money. The interest rates offered on term deposits are higher than that of savings account. Hence, Bank of Baroda offers the flexibility to move the funds parked in Savings account into fixed deposits, the same amount of money, for the same time period is likely to earn higher returns if parked in fixed deposit as against savings deposit account.
Bank of Baroda has a host of schemes to choose from based on suitability, the key variant being time period and interest rate. The choices are designed such that they provide appropriate options to a range of investors from salaried employees to self – employed professionals to senior citizens. The term deposits offered by Bank of Baroda come with a host of other attractive benefits such as convenient withdrawal options, nomination facility, overdraft facility, outstation cheque collections, safe deposit lockers, ATMs etc.,
Types of Fixed Deposit Schemes from Bank of Baroda
Short Term Deposits – These deposits are for less than a year and the tenure ranges between 7 days to 12 months. The minimum deposit amount is Rs. 1000 and the minimum tenure is 7 days, the interest rates would depend on the maturity period. The key benefits of short deposits schemes are –
- Overdraft and loan against deposit provided on demand up to 95% of deposit amount without any guarantor and processing fee, filling of forms etc.,
- Advances interest shall be charged 1.5% over the deposit rate with monthly rests in case of depositor-borrower
- Advances against deposit can be availed for a family member or friend at a slightly higher interest rate depending on the loan amount
- Term deposits with Bank of Baroda is accepted as a security by Government department
- It is also accepted as a margin for non-fund based facilities
- Nomination facility is available on short term deposit accounts
Long deposits – These fixed deposits have tenures greater than 12 months and can go upto 120 months. A range of fixed deposit schemes with varying tenure and interest rates are offered here.
- Baroda Advantage Fixed Deposits (non-callable) - This fixed deposit scheme can be opened in the individual’s own name or jointly in more than one individual. Minor of age above 14 years on terms as laid down by the bank can also open the account. The product is not available for minor account having age below 14 years. The maximum amount that can be accepted in minor account of this age group is Rs. 1 Lakh. The minimum deposit amount is Rs. 15,01,000/-, the maximum deposit amount is No limit.
- Baroda Maha Utsav Deposit Scheme – It is a new term deposit scheme specially for the festive season. The tenure is minimum 12 months and maximum 120 months. Interest is dependent on the tenure chosen.
- Fast Access Deposit Scheme – This scheme offers loan / overdraft facility upto 95% of the deposit amount from day1 of opening the deposit scheme. An additional interest for senior citizens 0.5% is allowed which is similar to the practice of other banks. The minimum amount to open an account is Rs. 10,000/-.
- BOB Suvidha Fixed Deposit Scheme – Minimum amount required to open an account is Rs. 5000/-, the tenure can range between 12 months – 60 months. Interest will be compounded quarterly and credited to the account on a half yearly basis under this scheme.
- Regular Income Plan – Deposits can be made with a minimum amount of Rs. 1000/-, the tenure can range from 12 months – 120 months. Interest is credited on a quarterly basis.
- Monthly Income Plan – Deposit account can be created with a minimum amount of Rs. 1000/-. The tenure can range between 12 months – 120 months. Interest will be paid on a monthly basis at discounted rate. The discounted rate is as mandated by the RBI.
- Term Deposits – There are no processing fees charged for loans and advances against bank deposits. Minimum amount required to open an account Rs. 1000/-. The tenure ranges between 12 months – 120 months.
- Baroda Tax Savings Term Deposit – All individuals and HUF are eligible for investing in the product. Minimum period of 5 years and maximum upto 10 years is the period of deposit. Minimum deposit shall be Rs. 100 and in multiples of Rs. 100.
Capital gains accounts scheme, 1988 - For all Deposits under Capital Gain Accounts Scheme, 1988, interest rate will be applicable as per time period. It will also not be in order to offer higher/differential rate of interest on deposits received under the Capital Gains Accounts Scheme, 1988.
Documents required for opening term deposit account with Bank of Baroda
For opening a term deposit account with Bank of Baroda, 2 passport size photos, address proof, identity proof, income proof, introducer who has an account with the bank
Interest rate on Fixed Deposit Schemes extended by Bank of Baroda
Depends on the maturity period, an additional 0.5% for senior citizens account. Interest payment is subject to TDS (tax deducted at source) at 10.3% as per prevailing Income tax act, 1961.
For Domestic & NRO Term Deposits - Below Rs. 1 Crore
| Tenors | Below Rs 1 Cr. (w.e.f. 01.11.18) |
|---|---|
| 7 days to 14 days | 4.50% |
| 15 days to 45 days | 4.75% |
| 46 days to 90 days | 5.00% |
| 91 days to 180 days | 5.75% |
| 181 days to 270 days | 6.50% |
| 271 days & above and less than 1 year | 6.50% |
| 1 year | 6.70% |
| Above 1 year to 400 days | 6.85% |
| Above 400 days and upto 2 Years | 6.80% |
| Above 2 Years and upto 3 Years | 6.70% |
| Above 3 Years and upto 5 Years | 6.70% |
| Above 5 Years and upto 10 Years | 6.70% |
For Domestic & NRO Term Deposits - Rs. 1 Crore to Less than Rs. 10 Crore
| Tenors | Rs 1 Cr. to Less than Rs 10 Cr. (w.e.f. 01.11.18) |
|---|---|
| 7 days to 14 days | 4.50% |
| 15 days to 45 days | 4.75% |
| 46 days to 90 days | 5.25% |
| 91 days to 180 days | 5.75% |
| 181 days to 270 days | 6.50% |
| 271 days & above and less than 1 year | 6.60% |
| 1 year | 7.05% |
| Above 1 Year and upto 4001 days | 7.05% |
| Above 400 days and upto 2 Years | 7.05% |
| Above 2 Years and upto 3 Years | 7.05% |
| Above 3 Years and upto 5 Years | 7.05% |
| Above 5 Years and upto 10 Years | 7.05% |
Interest Rates for Domestic Term Deposits & NRO Deposits of Rs 10 Crores to less than Rs 50 Crores (Fresh & Renewal)
| Maturity Range | Amount of Deposit Per receipt | |
|---|---|---|
| (w.e.f. 01.11.18) | (w.e.f. 01.11.18) | |
| Rs 10 cr. to less than Rs 25 cr. | Rs 25 cr. to less than Rs 50 cr. | |
| 7 days to 14 days | 4.50% | 4.50% |
| 15 days to 45 days | 4.75% | 4.75% |
| 46 days to 90 days | 5.25% | 5.25% |
| 91 days to 180 days | 5.75% | 5.75% |
| 181 days to 270 days | 6.50% | 6.50% |
| 271 days & above and less than 1 year | 6.60% | 6.60% |
| 1 year | 7.05% | 7.05% |
| Above 1 year and upto 400 Years | 7.05% | 7.05% |
| Above 400 days and upto 2 Years | 7.05% | 7.05% |
| Above 2 Years and upto 3 Years | 7.00% | 7.00% |
| Above 3 Years and upto 5 Years | 7.00% | 7.00% |
| Above 5 Years and upto 10 Years | ** | ** |
Interest Rates for Domestic Term Deposits & NRO Deposits of Rs 50 Crores to Rs.100 Crores & above Rs 100 Crores (Fresh & Renewal)
| Tenors | Amount of Deposit Per receipt | |
|---|---|---|
| (w.e.f. 01.11.18) | (w.e.f. 01.11.18) | |
| Rs 50 cr. to Rs 100cr. | Above Rs 100cr. | |
| 7 days to 14 days | 4.50% | 4.50% |
| 15 days to 45 days | 4.75% | 4.75% |
| 46 days to 90 days | 5.25% | 5.25% |
| 91 days to 180 days | 5.75% | 5.75% |
| 181 days to 270 days | 6.50% | 6.50% |
| 271 days & above and less than 1 year | 6.60% | 6.60% |
| 1 year | 7.05% | 7.05% |
| Above 1 year and upto 400 days | 7.05% | 7.05% |
| Above 400 days and upto 2 Years | 7.05% | 7.05% |
| Above 2 Years and upto 3 Years | 7.00% | 7.00% |
| Above 3 Years and upto 5 Years | 7.00% | 7.00% |
| Above 5 Years and upto 10 Years | ** | ** |
Baroda Tax Savings Term Deposit (w.e.f. 01.11.18)
| Tenors | Deposit [Per Annum] less than Rs 1 Cr. |
|---|---|
| For 5 years | 6.70% |
| Above 5 years to up to 10 years | 6.70% |
Bank Of Baroda Fixed Deposit Rate FAQ
1. Who is eligible to open a term deposit account with Bank of Baroda?
Resident Indians, private or public limited company, Hindu undivided family, trust and partnership firm can open term deposit account with Bank of Baroda.
2. What is the minimum amount allowed for opening a fixed deposit account?
Fixed deposit account can be opened with a minimum of Rs. 10,000 or Rs. 100 in certain cases which can be increased in multiples of Rs. 100.
3. What is the minimum and maximum tenure allowed on fixed deposits?
The tenure can range between 7 days and 10 years.
Bank Of Baroda Fixed Deposit Rate - Customer Reviews
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