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Bank of Baroda FD Interest Rates 2021

Bank of Baroda FD Interest Rates

Last Updated 16th Jul 2021

When it comes to the FD interest rate, the highest rate offered on Bank of Baroda FD is 5.25%. Latest Bank of Baroda FD interest rate for senior citizens, on the other hand ranges between 3.30% to 5.75%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 2.80% 3.30%
15 days to 45 days 2.80% 3.30%
46 days to 90 days 3.70% 4.20%
91 days to 180 days 3.70% 4.20%
181 days to 270 days 4.30% 4.80%
Earn upto 6.95% on FD APPLY NOW

Bank of Baroda Fixed Deposit Features

Bank of Baroda FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Bank of Baroda Fixed Deposit are:

  • Deposit Amount : Bank of Baroda FD can be opened with an amount as a low ₹ 10,000 to up to .
  • FD Tenure : Ranges between 7 days to 10 years.
  • Interest Rate Range : 2.80% p.a. to 5.25% p.a.
  • Senior Citizens FD Rate : 3.30% p.a to 5.75% p.a.
  • Highest Interest Rate : As per today’s rate, Bank of Baroda’s highest interest rate on FD is 5.25% offered for a tenure of 10 years.
  • Safety of Bank of Baroda Deposits : Bank of Baroda deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Bank of Baroda provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Short Deposit, Baroda Double Dhamaka Deposit Scheme, Baroda Advantage fixed deposits Non Callable, Fast Access Deposit, BOB Suvidha Fixed Deposit Scheme, Regular Income Plan, Monthly Income Plan, Bank of Baroda Tax Savings Term Deposit, Money Multiplier Deposit

Bank of Baroda FD Interest Rates Today

Interest rates on Bank of Baroda deposits are updated regularly by the Government of India. The following are updated Bank of Baroda FD interest rates 2021:

Tenure Interest Rate
7 days to 14 days 2.80%
15 days to 45 days 2.80%
46 days to 90 days 3.70%
91 days to 180 days 3.70%
181 days to 270 days 4.30%
271 days to 364 days 4.40%
400 days to 2 years 5.00%
1 year 4.90%
1 year 1 day to 400 days 5.00%
2 years 1 day to 3 years 5.10%
3 years 1 day to 5 years 5.25%
5 years 1 day to 10 years 5.25%

Bank of Baroda FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Bank of Baroda offers a higher interest rate to senior citizens than the general public. Listed below are the Bank of Baroda fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 14 days 3.30%
15 days to 45 days 3.30%
46 days to 90 days 4.20%
91 days to 180 days 4.20%
181 days to 270 days 4.80%
271 days to 364 days 4.90%
400 days to 2 years 5.50%
1 year 5.40%
1 year 1 day to 400 days 5.50%
2 years 1 day to 3 years 5.60%
3 years 1 day to 5 years 5.75%
5 years 1 day to 10 years 5.75%

Best FD Plan as per Bank of Baroda FD Rates

To invest in Bank of Baroda fixed deposit, you must compare Bank of Baroda Fixed Deposit Rates for varying tenures. Bank of Baroda FD Interest Rates 2021 are best for the deposits with a tenure of 3 years 1 day to 10 years, wherein the current Bank of Baroda Fixed Deposit Interest Rates is 5.25 p.a.

If you are looking to invest in short term deposits with Bank of Baroda, the interest rate of Bank of Baroda for FD ranges from 2.80% p.a. to 4.40% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term Bank of Baroda Fixed Deposit Rates for senior citizens range from 3.30% to 4.90% p.a.

If you want to invest in long term deposits, Bank of Baroda Fixed Deposit Rates with tenure ranging from 5 years to 10 years are a good choice with interest rates on deposits at 5.25%.Bank of Baroda Senior citizens FD Rates are offered at special rates with the highest deposit rates of5.75% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in Bank of Baroda:

  • Interest on deposit is paid only at the time of the maturity
  • Bank of Baroda also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Documents required to open Fixed Deposit Account in Bank of Baroda

  • Proof of identity and residence such as Aadhar card, PAN card or driving license.
  • Passport size photographs
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

Bank of Baroda Fixed Deposit Rates – Premature Withdrawal

You can close your Bank of Baroda FD account prematurely, however Bank of Baroda charges a penalty of 1% for deposits above Rs. 5 lakh for premature withdrawal. Also, The penal provisions for premature closure on Bank of Baroda FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Bank of Baroda

Bank of Baroda offers loans up to 95% against its own deposit. Note that Bank of Baroda will not give you loan against FD of any other bank. Bank of Baroda offers Loan against FD at the rate of 3.8% to 6.25%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in Bank of Baroda. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 95% against his FD at 10% interest rate. Now, if the borrower draws ₹ 95,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 95,000 available for 1 month only. The amount he repays after 1 month is ₹ 95,785. So, the interest charged on the loan taken is ₹ 785.

FD Account Opening Process at Bank of Baroda

To open an Bank of Baroda Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Bank of Baroda and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Bank of Baroda FD after reading the terms and conditions.

To open a Fixed Deposit account in Bank of Baroda, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Bank of Baroda FD after reading the terms and conditions.

Nomination Facility on Bank of Baroda FD

Bank of Baroda also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Bank of Baroda FD account. The nominee has to submit his/her identification proof at the time of claim.

Bank of Baroda Fixed Deposit Scheme

Short Deposit

Description:

  • A fixed deposit scheme to earn high return on your savings for a short period of less than 1 year.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • Deposit is accepted as a security by government department
  • Accepted as a margin for non fund based facilities
  • Interest rate on the borrowed amount is 1.5 per cent over the deposit

Who is eligible?

  • Resident Indians and hindu undivided family
Baroda Double Dhamaka Deposit Scheme

Description:

  • This scheme allows you to earn double returns on your original investment made into your fixed deposit.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • Interest on deposit is paid only at the time of the maturity
  • Tax benefits on deposit under section 80C of Income Tax Act, 1961

Who is eligible?

  • General public and senior citizens
Baroda Advantage fixed deposits Non Callable

Description:

  • It is a type of domestic term deposit product where the depositor can enjoy differential interest rates over normal?fixed deposit rates for a deposit amount of Rs. 15.01 lakh and a maximum amount of Rs. 10 crore for foregoing premature or partial withdrawal option.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • Availability of auto renewal facility on the deposit
  • Deposit is accepted as a security by government department

Who is eligible?

  • Resident Indian and hindu undivided family
Fast Access Deposit

Description:

  • A deposit scheme that allows you to invest for a particular tenure and get assured returns on your savings. The scheme comes with range of benefits such as security, liquidity and higher returns on your investments.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • No requirement of additional documentation for availing overdraft facility on your deposit
  • Opening of a current account is mandatory to avail benefits under this scheme

Who is eligible?

  • Resident Indians and hindu undivided family
BOB Suvidha Fixed Deposit Scheme

Description:

  • This deposit scheme offers a combination of competitive interest along with easy liquidity. A convenient way of utilizing your deposits giving you the best of both, long term as well as short term deposit plans.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • Extra interest of 0.50 per cent payable to the senior citizens
  • Unlike a fixed deposit, this scheme offers flexible fixed deposit option with no lock in period
  • Offers dual advantage of attractive rate of interest as well as flexible withdrawal limit

Who is eligible?

  • Resident Indians and hindu undivided family
Regular Income Plan

Description:

  • A ready made plan for those individuals who regularly need money to supplement their income each month. Interest earned on your deposit becomes another source of income.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • Interest on your deposit will be credited on a quarterly basis
  • Interest payments are subject to TDS
  • Extra interest of 0.50 per cent payable to the senior citizens

Who is eligible?

  • Resident Indians and hindu undivided family
Monthly Income Plan

Description:

  • A tailor made deposit plan which promises regular income either monthly, quarterly or on half yearly basis.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • Interest will be paid on monthly basis at discounted rate
  • Interest payments are subject to TDS
  • Extra interest of 0.50 per cent payable to the senior citizens

Who is eligible?

  • Resident Indians and hindu undivided family
Bank of Baroda Tax Savings Term Deposit

Description:

  • The scheme has been designed to help the resident individuals and HUFs to save their money on tax and derive effective yields and returns on their fixed deposit.
  • Interest will be compounded on a quarterly basis
  • Nomination facility available
  • Interest on the deposit is liable to tax /TDS
  • Availability of auto renewal facility

Who is eligible?

  • Resident Indians and hindu undivided family
Money Multiplier Deposit

Description:

  • Money multiplier deposit allows the depositor to link fixed deposit account to their savings account giving you the higher rate of interest.
  • Loan facility upto 95 per cent is available on the deposit
  • Nomination facility available
  • Interest on deposit is paid only at the time of the maturity
  • Tax benefits on deposit under section 80C of Income Tax Act, 1961

Who is eligible?

  • Resident Indians and hindu undivided family

FAQs

What is the highest fixed deposit interest rate for Bank of Baroda?

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

Are there any special rates for senior citizens FD of Bank of Baroda?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.80% to 5.25%. Compared to this, Bank of Baroda senior citizens FD are in the range of 3.30% to 5.75%.

What are the current Bank of Baroda FD interest rates 2021?

Current interest for FD in Bank of Baroda ranges between 2.80% - 5.25%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Bank of Baroda?

The minimum deposit amount required to book an FD with Bank of Baroda is ₹ 10,000.

Is it possible to change the tenure of my existing fixed deposit account with Bank of Baroda?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Bank of Baroda without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Bank of Baroda?

Yes, you can submit your application for opening an FD account on the website of Bank of Baroda. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Bank of Baroda?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.25%. For Bank of Baroda FD the number of years in which your FD will get doubled is; 72/5.25 = 14

What is the interest of 1 lakh in the Bank of Baroda?

The interest on Bank of Baroda fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the Bank of Baroda FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 14 days 2.80%
15 days to 45 days 2.80%
46 days to 90 days 3.70%
91 days to 180 days 3.70%
181 days to 270 days 4.30%
271 days to 364 days 4.40%
400 days to 2 years 5.00%
1 year 4.90%
1 year 1 day to 400 days 5.00%
2 years 1 day to 3 years 5.10%
3 years 1 day to 5 years 5.25%
5 years 1 day to 10 years 5.25%


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Bank of Baroda News - Jul 2021
  • 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%.
  • 2020-03-18 : New FD rate for Bank of Baroda
    Bank of Baroda revised its FD rates. The FD rate for 7 to 14 days is 4.25%, it is 4.50% for 15 to 45 days and it stands at 5% for 46 to 180 days. The Fixed deposit rate for 181 to less than one year is 5.50%, it is 5.90% for one year and for above one year to 400 days it is 6%. Further, for the above two years to three years is 5.90%, for above three years to 5 years is 6.15% and above five years to 10 years it is 5.90%. The revised rates have been in effect from 17 March 2020.
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