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Introduction
Recurring deposit is a special kind of term deposit offered by most banks in India. The recurring deposit account encourages the account holder to invest a specific amount every month called the ‘installment’ for a pre-determined tenure. Most banks allow a minimum contribution as low as Rs. 500 or Rs. 1000 per month. The tenure can range between 6 months to 120 months. The recurring deposit can be funded by linking the recurring deposit account with the savings bank account. The fund can auto-debit the savings account and transfer into the recurring deposit if the account holder provides standing instructions for the same. Recurring deposits pay-out a maturity value in line with the interest rates as determined at the time of deposit. The interest rate is a function of time period of deposit and the amount of installment. The investor will know the maturity value which will be paid out from the Recurring deposit account at the time of opening the account. If the installments are delayed or lapsed, penalty is levied in the form of lower interest credit.
About Bank Of Baroda Recurring Deposit Rate
- Recurring Deposits from Bank of Baroda
- Recurring Deposit
- Flexible Recurring Deposit Scheme Yatha Shakti Jama Yojna
- Features and Benefits of Bank of Baroda Recurring Deposit schemes
- For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %)- Below Rs.1 Crore
- For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) Rs.1 Crore to Less than Rs. 10 Crore
- Interest Rates for Domestic Term Deposits & NRO Deposits of Rs 10 Crores to less than Rs 50 Crores (Fresh & Renewal)
- Interest Rates for Domestic Term Deposits & NRO Deposits of Rs 50 Crores to Rs.100 Crores & above Rs 100 Crores (Fresh & Renewal)
- Domestic Term Deposits for Senior Citizens
- Frequently asked questions
Recurring Deposits from Bank of Baroda
Bank of Baroda provides a host of customized solutions which caters to a variety of customers. The solutions offered are competent to ensure that the investors benefit from reaping optimal returns from the products. The recurring deposits offer loan and overdraft facility to the extent of 95% of the deposit value. The minimum amount of installment required to open an account is Rs. 50/-. The deposit tenure allowed by Bank of Baroda is 6 month to 120 months. There are variants in the recurring deposit bearing the name – Baroda Samriddhi Quarterly Recurring Deposit, Baroda Samriddhi Half-Yearly Recurring Deposit, Flexible Recurring Deposit Scheme Yatha Shakti Jama Yojna. The features of these schemes are unique and the interest rates, tenure and installment amount requirement are specific.
Recurring Deposit
Recurring Deposit account encourages account holder to deposit on monthly basis for a fixed period of time and earn interest on account balance. The maturity amount which will be paid out at the end of the tenure will include both principal and interest amount. Bank of Baroda offers attractive interest rates on recurring deposit schemes. Minimum amount required for opening an account is Rs. 50/-. The tenure for recurring deposit account can range between 6 months and 120 months.
Baroda Samriddhi Quarterly Recurring Deposit- This recurring deposit scheme provides loan and overdraft facility up to 95% of the deposit amount
- Provision for nomination available
- Minimum amount required to open an account is Rs. 500/-.
- The deposit tenure can range between 36 months and 120 months
- Loan / overdraft facility up to 95% of the deposit amount
- Provision for nomination available
- Minimum amount required to open an account is Rs. 1000/-.
- Deposit tenure applicable for this type of recurring deposit account is minimum 36 months to maximum 120 months
Flexible Recurring Deposit Scheme Yatha Shakti Jama Yojna
The instalment frequency is monthly, the minimum amount of core instalment required to open an account s Rs. 100/-. The minimum and maximum duration applicable in case of this recurring deposit scheme is 12 months to 120 months.
Features and Benefits of Bank of Baroda Recurring Deposit schemes
- Encourages customers to invest on a regular basis throughout the year
- Enables earning of better returns on investments – the interest rates are in line with that of fixed deposit rates
- Short, medium or long-term commitment can be sought based on convenience and financial goals of the investor
- Loan and overdraft facility up to 95% of the recurring deposit amount which can help during urgent financial needs
For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %)- 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 [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) Rs.1 Crore to Less than Rs. 10 Crore
| Tenors | Rs. 1 Cr. to Less than Rs.10 Cr. (w.e.f. 13.12.18) |
|---|---|
| 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 | 6.70 |
| Above 1 Year 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 |
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. 13.12.18) | (w.e.f. 13.12.18) | |
| 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 | 6.70 | 6.70 |
| Above 1 Year and upto 2 Years | 6.80 | 6.80 |
| Above 2 Years and upto 3 Years | 6.70 | 6.70 |
| Above 3 Years and upto 5 Years | 6.70 | 6.70 |
| 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. 13.12.18) | (w.e.f. 13.12.18) | |
| 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 | 6.70 | 6.70 |
| Above 1 Year and upto 2 Years | 6.80 | 6.80 |
| Above 2 Years and upto 3 Years | 6.70 | 6.70 |
| Above 3 Years and upto 5 Years | 6.70 | 6.70 |
| Above 5 Years and upto 10 Years | ** | ** |
Domestic Term Deposits for Senior Citizens
Branches may continue to pay an additional interest of 0.50% on domestic term deposits of less than Rs. 1.00 Crore from Senior Citizens for all tenors in terms of extant guidelines.
For Baroda Advantage Fixed Deposit (domestic) Accounts (Non-Callable) w.e.f. 01.11.18 (Deposit amount: above Rs. 15.01 lakhs)| Tenors | Below Rs.1 Cr. |
|---|---|
| 1 year | 6.85 |
| Above 1 Years to 400 days | 7.00 |
| Above 400 days and upto 2 Years | 6.95 |
| Above 2 Years and upto 3 Years | 6.85 |
| Above 3 Years and upto 5 Years | 6.85 |
| Above 5 Years and upto 10 Years | 6.85 |
Non-Callable Bulk deposits of Rs.1.00 crore and above will also have additional interest by 10 bps over the applicable rate of interest for Normal Bulk Deposits (callable) as per the maturity period of deposits as decided by The Treasury Department, BCC
For Baroda Advantage Fixed Deposit (domestic) Accounts (Non-Callable)| Tenors | ROI for Deposits of Rs. 1 Cr. to Rs. 10 Cr. (w.e.f. 13.12.18) | Rs. 10 Cr.and Above. (w.e.f. 13.12.18) |
|---|---|---|
| 1 year | 6.80 | 6.80 |
| Above 1 Years and upto 2 Years | 6.90 | 6.90 |
| Above 2 Years and upto 3 Years | 6.80 | 6.75 |
| Above 3 Years and upto 5 Years | 6.80 | 6.75 |
| Above 5 Years and upto 10 Years | 6.80 | - |
Andhra Bank Credit Card Balance Check FAQ
1. Who can open an RD account with Bank of Baroda?
Following are the people who can open an RD account with Bank of Baroda.
- All Indian residents
- Members of Hindu Undivided Families (HUF)
- Private and public limited companies
- Trusts and societies
2. What is the minimum amount required to open a recurring deposit with Bank of Baroda?
Minimum installment amount is Rs.50/- for the regular recurring deposit account. For Baroda Samriddhi Quarterly Recurring Deposit, the minimum installment required is Rs.500/-. For Baroda Samriddhi Half Yearly Recurring Deposit, the minimum installment required is Rs. 1000/. Under the Flexible Recurring Deposit Scheme Yatha Shakti Jama Yojna, the minimum required installment amount is Rs.100/-.
Bank Of Baroda Recurring Deposit Rate - Customer Reviews
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