Bank of Baroda FD Interest Rates - Check Latest BOB Fixed Deposit Interest Rate
Updated on June 27, 2024
Written by Manish Kothari
CEO Zfunds
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Bank of Baroda Fixed Deposit Interest Rates
Bank of Baroda (BOB) is an Indian public sector, multinational banking, and Financial Service Institution. It is the 3rd largest public sector bank in India with 125 million+ customers, a total business of 218 Billion US Dollars, and a global presence of 100 overseas bodies. It is ranked 1145 on the Forbes Global 2000 list, as per 2019 data. Indian Government announced the merger of Bank of Baroda, Vijaya Bank, and Dena Bank on 17 September 2018, to create the country's 3rd largest lender. Bank of Baroda FDs is one of the great ways to save one’s hard-earned money for a specified period of time as the invested money carries high safety along with good returns. After reading this article on Bank of Baroda FD Interest Rate, you will be able to make an informed decision. In this article, we have discussed the latest interest rates of FDs for different investment tenures. Also, you will find the important features & characteristics of these FDs here.
Watch this Video to Get Complete Information of Bank of Baroda FD Rates
Eligibility
| Who can open | Individual, Joint account (not exceeding 4 applicants), Minor with a guardian, Partnership, Company, Any Institute or Association |
| Can NRI deposit in SBI FD? | Yes |
| Investment Amount | Min: Rs. 1,000 Max: Rs. 100 Cr |
| Tenure | Min: 7 days Max: 10 years |
Documents Required
- Application form (duly filled and signed)
- Recent passport size Photographs of Depositor
- Identity and Residence proof as per KYC rules and norms
- PAN card
- Aadhaar Details
Note: This is not an exhaustive list, one can expect further alterations.
Key Features
- Minimum Amount:
The minimum amount of investment is Rs. 1,000 only to open an FD with Bank of Baroda.
- Nomination:
Nomination facility is available at the initiation of the FD
- Loan and Overdraft Facility:
Overdraft/Loan Facility of up to 95% of the balance can be availed against the FD
- Tax Deduction:
The Fixed Deposit with a maturity of 5 years is eligible for tax deduction under Section 80C of the Income Tax Act,1961. However, the interest earned on deposits is taxable in nature.
- TDS:
If the annual amount of interest earned on the FD exceeds Rs. 10,000 then the bank levies TDS (i.e. Tax Deductible at Source) at the rate of 10% form interest income.
Updated Bank of Baroda FD Interest Rates 2023
Domestic Term Deposits and NRO Deposits Below Rs. Two Crores
Mentioned below are the revised fixed deposit interest rates offered by Bank of Baroda for callable deposits.
| Period | Per Annum Interest Rates (w.e.f. 26th December 2022) |
| 7 days to 14 days | 3.00 |
| 15 days to 45 days | 3.00 |
| 46 days to 90 days | 4.50 |
| 91 days to 180 days | 4.50 |
| 181 days to 210 days | 5.25 |
| 211 days to 270 days | 5.75 |
| 271 days & above and less than 1 year | 5.75 |
| 1 year | 6.75 |
| Above 1 year to 400 days | 6.75 |
| Above 400 days and upto 2 Years | 6.75 |
| Above 2 Years and upto 3 Years | 6.75 |
| Above 3 Years and upto 5 Years | 6.25 |
| Above 5 Years and upto 10 Years | 6.25 |
Above 10 years (MACT/MACAD Court Order schemes only) | 6.25 |
| 444 Days (Baroda Tiranga Deposit Scheme)*** | 6.75 |
| 555 Days (Baroda Tiranga Deposit Scheme)*** | 6.75 |
| 399 Days (Baroda Tiranga Plus Deposit Scheme) | 7.05 |
Current Bank of Baroda FD Interest Rates 2023 for Senior Citizens – Domestic Term Deposits Below Rs. Two Crores
Mentioned below are the revised Bank of Baroda FD interest rates for senior citizens. These are 0.5 % higher than interest rates offered on regular fixed deposits. Therefore, the revised interest rates are as follows. These rates are applicable for “Resident Indian Senior Citizens” only.
| Period | Per Annum Interest Rates (w.e.f. 26th December 2022) |
| 7 days to 14 days | 3.50* |
| 15 days to 45 days | 3.50* |
| 46 days to 90 days | 5.00* |
| 91 days to 180 days | 5.00* |
| 181 days to 210 days | 5.75* |
| 211 days to 270 days | 6.25* |
| 271 days & above and less than 1 year | 6.25* |
| 1 year | 7.25* |
| Above 1 year to 400 days | 7.25* |
| Above 400 days and upto 2 Years | 7.25* |
| Above 2 Years and upto 3 Years | 7.25* |
| Above 3 Years and upto 5 Years | 6.90** |
| Above 5 Years and upto 10 Years | 7.25*** |
Above 10 years (MACT/MACAD Court Order schemes only) | 6.75* |
| 444 Days (Baroda Tiranga Deposit Scheme)*** | 7.25* |
| 555 Days (Baroda Tiranga Deposit Scheme)*** | 7.25* |
| 399 Days (Baroda Tiranga Plus Deposit Scheme) | 7.25* |
* includes additional FD interest rate of 0.50%
** includes. additional FD interest rate of 0.50% + 0.15%
*** includes additional FD interest rate of 0.50% + 0.50%
Current Bank of Baroda FD Interest Rates 2023 – Domestic Term Deposits & NRO Deposits between Rs. Two Crores and Rs. Ten Crores
Mentioned below are the revised Bank of Baroda fixed deposit interest rates 2022 for deposits between Rs. two crores and Rs. ten crores.
Period Per Annum Interest Rates (w.e.f. 29th July 2022) 7 days to 14 days 4.00 15 days to 45 days 4.00 46 days to 90 days 4.75 91 days to 180 days 5.00 181 days to 270 days 5.00 271 days & above and less than 1 year 6.00 1 year 6.50 Above 1 Year and up to 2 Years 6.25 Above 2 Years and up to 3 Years 6.00 Above 3 Years and up to 5 Years 5.25 Above 5 Years and up to 10 Years 5.00 |
Revised Bank of Baroda FD Interest Rates 2023
Domestic Term Deposits and NRO Deposits between Rs. 10 Crores and Rs. 50 Crores
Mentioned below are the revised Bank of Baroda fixed deposit interest rates for deposits between Rs. 10 crores and Rs. 50 crores.
Period Per Annum Interest Rates (w.e.f. 29th July 2022) 7 days to 14 days 4.00 15 days to 45 days 4.00 46 days to 90 days 4.75 91 days to 180 days 5.00 181 days to 270 days 5.00 271 days & above and less than 1 year 6.00 1 year 6.50 Above 1 Year and up to 2 Years 6.25 Above 2 Years and up to 3 Years 6.00 Above 3 Years and up to 5 Years 5.25 |
Revised Bank of Baroda FD Interest Rates 2022 – Domestic Term Deposits & NRO Deposits between Rs. 50 Crores and Rs. 100 Crores
Mentioned below are the revised Bank of Baroda fixed deposit interest rates 2022 for deposits between Rs. 50 crores and Rs. 100 crores.
Period Per Annum Interest Rates (w.e.f. 29th July 2022) 7 days to 14 days 4.00 15 days to 45 days 4.00 46 days to 90 days 4.75 91 days to 180 days 5.00 181 days to 270 days 5.00 271 days & above and less than 1 year 6.00 1 year 6.50 Above 1 Year and up to 2 Years 6.25 Above 2 Years and up to 3 Years 6.00 Above 3 Years and up to 5 Years 5.25 |
Check and Compare - All Banks Fixed Deposit Interest Rates
Latest Bank of Baroda FD Interest Rates 2022
Domestic Term Deposits & NRO Deposits above Rs. 100 Crores
Mentioned below are the revised Bank of Baroda fixed deposit interest rates 2022 for deposits above Rs. 100 crores.
Period Per Annum Interest Rates (w.e.f. 29th July 2022) 7 days to 14 days 4.00 15 days to 45 days 4.00 46 days to 90 days 4.75 91 days to 180 days 5.00 181 days to 270 days 5.00 271 days & above and less than 1 year 6.10 1 year 6.50 Above 1 Year and up to 2 Years 6.35 Above 2 Years and up to 3 Years 6.00 Above 3 Years and up to 5 Years 5.25 |
Tax Saving Term Deposit Rates
Deposits made in Baroda Tax Saving FD are eligible for tax deductions of up to 1.5 lakhs in a financial year under Section 80C of the IT Act,1961. The maximum deposit amount in Tax saver FDs has been capped at Rs. 1,50,000 under a single PAN in a financial year. It comes with a minimum lock-in period of 5 years.
| TENURE | General Public (p.a.) | Senior Citizen (p.a.) |
| 5 years | 5.25% | 5.80% |
| More than 5 years, upto 10 years | 5.25% | 6.30% |
NRE Fixed Deposit Rates
| TENURE | Less than Rs. 2 Cr (p.a.) | Above Rs. 2 Cr to Rs. 10 Cr (p.a.) |
| 1 year | 4.95% | 3.25% |
| More than 1 year, upto 400 days | 5.05% | 3.25% |
| More than 400 days, upto 2 years | 5.05% | 3.25% |
| More than 2 years, upto 3 years | 5.15% | 4.10% |
| More than 3 years, upto 5 years | 5.35% | 3.25% |
| More than 5 years, up to 10 years | 5.35% | 3.25% |
Premature Withdrawal
- No penalty for premature withdrawal will be levied in case of premature withdrawal of deposits up to Rs. 5,00,000 on condition that the deposit with the bank has been for a minimum tenure of 12 months.
- On other premature withdrawals from deposits, interest will be calculated at the rate which is 1% below the applicable rate for the tenure of deposits.
Bank of Baroda Fixed Deposit 2022 - FAQs
Q. What is the maturity period of an FD ?
A. Bank of Baroda Fixed Deposits are offered for tenures between 7 days to 10 years.
Q. How much extra returns are offered on deposits made by senior citizens ?
A. An additional 0.50% interest rate is offered to senior citizens.
Q. Can a depositor initiate a BoB FD online ?
A. Yes, BoB has a full-fledged online infrastructure where a depositor can open an FD.
Q. Can a depositor opt for premature withdrawal on all FD schemes offered by BoB ?
A. No, there are some deposit schemes which are not eligible for premature withdrawals.
Q. How can a depositor get a TDS tax exemption ?
A. One can fill and submit Form 15G/15H to the bank and avail of the exemption.
Q. What is the maturity period for Tax Saving FDs ?
A. The tax saving FD schemes are offered for a tenure of 5 years to 10 years.
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