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Bank of Baroda FD Calculator

Bank of Baroda Fixed Deposit Calculator 2022

Last Updated 18th Jan 2022

Bank of Baroda FDs have tenures ranging from 3 years 1 day to 10 years with maximum rate of interest of 5.25%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.75%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 2.80% 3.30% ₹ 1,00,054 - ₹ 1,00,127
46 days to 90 days 3.70% 4.20% ₹ 1,00,466 - ₹ 1,01,036
91 days to 180 days 3.70% 4.20% ₹ 1,00,922 - ₹ 1,02,082
181 days to 270 days 4.30% 4.80% ₹ 1,02,144 - ₹ 1,03,593
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Bank of Baroda Fixed Deposit Calculator

Bank of Baroda fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Bank of Baroda. Banks may allow a higher interest rate on larger deposits. Bank of Baroda offers a deposit amount in the range of Rs. 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Bank of Baroda offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Bank of Baroda is 5.25% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years 1 day to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 2.80% for a 3 years 1 day FD and a rate of 5.25% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.80%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Bank of Baroda calculates quarterly interest on its fixed deposits. You can also opt for a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

Bank of Baroda Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- In a periodic interest payout option, Bank of Baroda would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • Cumulative- In case you opt for a Bank of Baroda cumulative deposit on maturity you would get a credit for the principal and interest earned net of TDS.

How is Bank of Baroda FD Rate Calculated?

Bank of Baroda calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

Bank of Baroda FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in Bank of Baroda depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Bank of Baroda FD can be calculated monthly, quarterly, half-yearly and annually.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in Bank of Baroda FD for a 5-year tenure at an interest rate of 5.25% for depositors below 60 years and 5.75% for senior citizens.The maturity schedule of Bank of Baroda FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.25% for Citizens below 60 years and at 5.75% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2022 ₹ 5,354 ₹ 1,05,354 ₹ 5,875 ₹ 1,05,875
2023 ₹ 5,641 ₹ 1,10,995 ₹ 6,220 ₹ 1,12,095
2024 ₹ 5,943 ₹ 1,16,938 ₹ 6,586 ₹ 1,18,681
2025 ₹ 6,261 ₹ 1,23,199 ₹ 6,973 ₹ 1,25,654
2026 ₹ 6,596 ₹ 1,29,795 ₹ 7,382 ₹ 1,33,036

Bank of Baroda FD Calculator Formula

Along with an online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Bank of Baroda FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P - Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

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What is the highest interest earned on Bank of Baroda fixed deposit?

You can earn a maximum interest of 5.25% on Bank of Baroda fixed deposits.

How many years FD will double in Bank of Baroda?

The growth of Bank of Baroda FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Bank of Baroda FD.You can also use Bank of Baroda fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. So it will take a little more than 14 years for one’s investment to get doubled in Bank of Baroda.

What are the minimum and maximum amounts that I can invest in an Bank of Baroda FD?

The minimum investment limit in Bank of Baroda Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

Can I withdraw my premature FD from Bank of Baroda?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 1% for deposits above Rs. 5 lakh of FD amount for premature withdrawal.

How can I calculate Bank of Baroda premature FD amount?

To calculate premature FD amount you can use Bank of Baroda bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).

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Bank of Baroda News - Jan 2022
  • 2021-10-11 : Bank Of Baroda Offers Special Rate For Senior Citizens on FD
    Bank of Baroda (BOB) is has introduced special privileges for senior citizens on fixed deposits. This scheme has been extended till March 31, 2022. Under the scheme, the customers get a 1% additional interest rate for 5 years to 10 years and use video KYC facility and doorstep banking.
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-06-30 : Bank of Baroda has extended senior citizens special FD scheme till September 2021
    Amid the Covid pandemic last year, SBI, HDFC, ICICI and Bank of Baroda had introduced special FD schemes for senior citizens for the tenure of 5 years and more. These special fixed deposit (FD) schemes for senior citizens have been extended till 30 September 2021.
  • 2020-10-30 : Bank of Baroda Q2 profit surges 128%
    Bank of Baroda reported a net profit of ₹1,679 crores for the quarter ending 30 September. Net interest income during the quarter grew by 6.8% to ₹7,508 crores. The consolidated net profit stood at ₹1,771 crores in the September quarter. Further, the advances backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans increased by 5.3%. CASA ratio increased to 39.78%, up by 190 bps year-on-year.
  • 2020-10-07 : Bank of Baroda changed its FD rates
    With effect from 3 October 2020, Bank of Baroda has revised its interest rates. As per the revised rates, the rate of interest for a tenure of 7 days to 45 days, the rate is 2.90%; the rate for 46 days to 180 days stands at 3.90% and for 181 days to less than a year, the revised rate is 4.40%. The revised rates for a longer tenure, above 1 year one day to 3 years is 5.10%, and for above 5 years to 10 years, the rate of interest is 5.30%.
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