Bank Of Baroda Fixed Deposit Interest Rates (as on 2024)
Bank of Baroda FD Interest Rates (Less than Rs.2 Crore) w.e.f. 30.10.2023
| Tenors | Interest Rate p.a.(%) (General) | Interest Rate p.a.(%) (Senior Citizen) |
|---|---|---|
| 7 days to 14 days | 3.00 | 3.50 |
| 15 days to 45 days | 3.50 | 4.00 |
| 46 days to 90 days | 5.00 | 5.50 |
| 91 days to 180 days | 5.00 | 5.50 |
| 181 days to 210 days | 5.50 | 6.00 |
| 211 days to 270 days | 6.00 | 6.50 |
| 271 days & above and less than 1 year | 6.25 | 6.75 |
| 1 year | 6.75 | 7.25 |
| Above 1 year to 400 days | 6.75 | 7.25 |
| Above 400 days and upto 2 Years | 6.75 | 7.25 |
| Above 2 Years and upto 3 Years | 7.25 | 7.75 |
| Above 3 Years and upto 5 Years | 6.50 | 7.15 |
| Above 5 Years and upto 10 Years | 6.50 | 7.50 |
Bank of Baroda FD Interest Rates (from Rs. 2 Crores to Rs. 3 Crores) w.e.f. 01.12.2023
| Tenors | Interest Rate p.a.(%) |
|---|---|
| 7 days to 14 days | 4.00 |
| 15 days to 45 days | 4.50 |
| 46 days to 90 days | 5.50 |
| 91 days to 180 days | 5.25 |
| 181 days to 210 days | 5.50 |
| 211 days to 270 days | 6.00 |
| 271 days & above and less than 1 year | 6.25 |
| 1 year | 7.25 |
| Above 1 year and upto 2 Years | 6.85 |
| Above 2 Years and upto 3 Years | 6.50 |
| Above 3 Years and upto 5 Years | 6.00 |
| Above 5 Years and upto 10 Years | 5.00 |
Bank of Baroda FD Interest Rates (from above Rs. 3 Crores to Rs. 5 Crores) w.e.f. 01.12.2023
| Tenors | Interest Rate p.a.(%) |
|---|---|
| 7 days to 14 days | 4.00 |
| 15 days to 45 days | 4.50 |
| 46 days to 90 days | 5.00 |
| 91 days to 180 days | 5.25 |
| 181 days to 210 days | 5.50 |
| 211 days to 270 days | 6.00 |
| 271 days & above and less than 1 year | 6.25 |
| 1 year | 7.25 |
| Above 1 year and upto 2 Years | 6.85 |
| Above 2 Years and upto 3 Years | 6.50 |
| Above 3 Years and upto 5 Years | 6.00 |
| Above 5 Years and upto 10 Years | 5.00 |
Bank of Baroda FD Interest Rates (from above Rs. 5 Crores to Rs. 10 Crores) w.e.f. 01.12.2023
| Tenors | Interest Rate p.a.(%) |
|---|---|
| 7 days to 14 days | 4.00 |
| 15 days to 45 days | 4.50 |
| 46 days to 90 days | 5.25 |
| 91 days to 180 days | 5.50 |
| 181 days to 210 days | 5.75 |
| 211 days to 270 days | 6.50 |
| 271 days & above and less than 1 year | 6.75 |
| 1 year | 7.45 |
| Above 1 year and upto 2 Years | 6.75 |
| Above 2 Years and upto 3 Years | 6.50 |
| Above 3 Years and upto 5 Years | 6.00 |
| Above 5 Years and upto 10 Years | 5.00 |
Bank of Baroda FD Interest Rates (from above Rs. 10 Crores to Rs. 100 Crores) w.e.f. 02.12.2023
| Tenors | Interest Rate p.a.(%) |
|---|---|
| 7 days to 14 days | 4.50 |
| 15 days to 45 days | 5.00 |
| 46 days to 90 days | 5.50 |
| 91 days to 180 days | 6.00 |
| 181 days to 270 days | 7.00 |
| 271 days & above and less than 1 year | 7.25 |
| 1 year | 7.45 |
| Above 1 year and upto 2 Years | 7.00 |
| Above 2 Years and upto 3 Years | 6.00 |
| Above 3 Years and upto 5 Years | 5.25 |
| Above 5 Years and upto 10 Years | N.A. |
Bank of Baroda FD Interest Rates (from above Rs. 100 Crores to Rs. 500 Crores) w.e.f. 02.12.2023
| Tenors | Interest Rate p.a.(%) |
|---|---|
| 7 days to 14 days | 4.50 |
| 15 days to 45 days | 5.00 |
| 46 days to 90 days | 5.50 |
| 91 days to 180 days | 6.00 |
| 181 days to 270 days | 7.00 |
| 271 days & above and less than 1 year | 7.25 |
| 1 year | 7.61 |
| Above 1 year and upto 2 Years | 7.00 |
| Above 2 Years and upto 3 Years | 6.00 |
| Above 3 Years and upto 5 Years | 5.25 |
| Above 5 Years and upto 10 Years | N.A. |
Bank of Baroda FD Interest Rates (from above Rs. 500 Crore) w.e.f. 02.12.2023
| Tenors | Interest Rate p.a.(%) |
|---|---|
| 7 days to 14 days | 4.50 |
| 15 days to 45 days | 5.00 |
| 46 days to 90 days | 5.50 |
| 91 days to 180 days | 6.00 |
| 181 days to 270 days | 7.00 |
| 271 days & above and less than 1 year | 7.25 |
| 1 year | 7.45 |
| Above 1 year and upto 2 Years | 7.00 |
| Above 2 Years and upto 3 Years | 6.00 |
| Above 3 Years and upto 5 Years | 5.25 |
| Above 5 Years and upto 10 Years | N.A. |
Baroda Tax Savings FD Interest Rates w.e.f. 30.10.2023
| Tenors | Interest Rate p.a.(%) (General) | Interest Rate p.a.(%) (Senior Citizen) |
|---|---|---|
| For 5 years | 6.50 | 7.15 |
| Above 5 years to up to 10 years | 6.50 | 7.50 |
Bank of Baroda Fixed Deposit
Bank of Baroda has a range of Fixed Deposits (FDs) products at competitive interest rates with various tenures and lots of other benefits. Bank of Baroda offers Fixed Deposit schemes for a short term period and long term period.
It is very easy to open a BOB FD either online through its website or by visiting its nearby branch.
Features & Benefits: Baroda (BOB) Fixed Deposit
- Competitive interest rates are offered with flexible FD tenures to suit your investment plan.
- FD account can be opened online or by visiting your nearest BOB branch.
- Minimum Amount of FD: Rs 100 and then in multiples of Rs 1 thereafter.
- Maximum Amount of FD: No limit
- FD Tenures: 7 days to 10 years
- Different interest payout options such as monthly, quarterly, etc.
- Loan/ Overdraft against FD facility is available upto 90% of the FD amount.
- Easy and fast liquidity options are available.
- Nomination facility is available.
- Part withdrawal facility and auto-renewal facilities
- Senior citizens can enjoy higher interest rate as compared to regular citizens.
- NRE, NRO and FCNR deposit facility is available.
Eligibility for Bank of Baroda Fixed Deposit
Any of the following persons can invest in fixed deposits (FD):
- Individual
- Minor
- HUF
- Proprietary Firm
- Partnership Firm
- Limited Liability Partnership (LLP)
- Company
- Association of Persons (AOP)
- Body of Individuals (BOI)
- Local Authority
- Trust
- Non-Resident Indian (NRI)
- Registered Society
Documents Required for Bank of Baroda Fixed Deposit
Following Documents are required for opening a Fixed Deposit Account
| Category | Documents Required |
|---|---|
| Individual, HUF, Proprietor |
|
| Partnership Firm |
|
| Trust |
|
| Associations, Clubs |
|
| Company |
|
Bank of Baroda FD Calculator
Fixed Deposit Calculator
Maturity Value (₹)
₹0
Interest Earned (₹)
₹0
Types of Bank of Baroda Fixed Deposit
- BOB Short Deposit: Fixed Deposit scheme for a short tenure of less than 12 months. Minimum deposit amount of Rs.1,000 and Minimum tenure is 7 days.
- Baroda Holiday Saving Recurring deposit: This scheme allows one to plan his/ her holidays next year at today's price. Monthly contribution: Minimum Rs 100 p.m. & further in multiples of Rs 100. Tenure: 12 months (by default).
- BOB Term Deposit: Special feature is that "NIL" processing fees will be charged for Loans and Advances against bank deposits. Deposit account can be opened with minimum amount of Rs. 1,000. FD Tenure: 12 months to 120 Months.
- Baroda Advantage fixed deposits (Non callable): Minimum FD: Rs 15,01,000, Maximum FD: Rs.10 crore, Tenure: Minimum 12 months and Maximum 120 Months
- Baroda Maha Utsav Deposit Scheme: This Fixed Deposit Scheme for the Festive Season.
- BOB Fast Access Deposit Scheme: Loan/Overdraft facility up to 95% of the deposit amount right from Day 1. 0.50% additional interest is offered to senior citizens. Minimum amount required to open an account is Rs. 10,000.
- BOB Suvidha Fixed Deposit Scheme: A scheme in which, interest will be compounded quarterly & credited to depositor's account Half Yearly. Minimum FD is of Rs. 5,000. Deposit Tenure: 12 months to 60 Months.
- BOB Regular Income Plan: Deposit account can be opened with minimum amount of Rs. 1,000. FD Tenure: 12 months to 120 Months. Interest on FD credited on Quarterly Basis.
- BOB Monthly Income Plan: A deposit scheme which provides regular interest income monthly. Deposit account can be opened with minimum amount of Rs. 1,000. FD Tenure: 12 months to 120 Months. Interest will be paid on monthly basis at discounted rate.
- Regular Income Cum Recurring Deposit: It provides regular income. Deposits can also be made on monthly basis. Deposit account can be opened with minimum amount of Rs. 1,000. FD Tenure: 12 months to 120 Months. 0.50% additional interest for senior citizens.
- Baroda Tax Savings Term Deposit: Depositors can save tax under Section 80C. Loan or overdraft cannot be availed against the deposit. All individuals and HUF are eligible to invest in the Product. Deposit account can be opened with minimum amount of Rs. 100. FD Tenure: 5 years to 10 years. Premature withdrawal is not allowed before the completion of 5 years except in case of death of the depositor.
- Capital Gain Account Scheme: Scheme allows Tax exemption under section 54(F)(4) of Income Tax Act 1961.
Instructions for Deposit accounts of Minors for BOB FD
- In sole name: if the minor is 10 years and above and can read and write
- In joint name with natural guardian: if minors are less than 10 years of age
- Maximum FD amount: Rs.1,00,000 till minor is aged 14 years or below; No cap, for minors above the age of 14 years
BOB: Payment to a third party/ nominee/ legal heir
The proceeds of a deposit receipt is not payable to a third party or to a collecting bank unless the receipt is discharged and is accompanied by a separate letter of authority signed by all depositors authorising payment to the third party or to the Bank, as the case may be.
Automatic Renewal of Fixed Deposit
- A matured term deposit will be renewed on its due date itself, for further period of one year at the applicable rate prevailing on the due date, if not instructed otherwise.
- In respect of term deposit issued for less than one year, the concerned matured term deposit will be renewed on its due date itself for the same period with the applicable interest rate prevailing on the due date, if not instructed otherwise.
- If at a later date (i.e. after automatic renewal) the depositor requests for prepayment of old deposit, before making payment the receipts duly discharged along with prepayment instructions is to be furnished.
- When a depositor at a later date (i.e. after automatic renewal) requests for longer maturity, prepayment as above is to be made without charging penalty and new FDR may be issued as requested.
Payment of interest on Pre-mature Withdrawal of BOB FD
Penalty is waived, if face value of deposit does not exceed Rs.5 lakhs and FD has remained with the bank for a minimum period of 12 months.
Interest rate for premature payment without penalty will be the rate ruling on the date of accepting the deposit for the period for which deposit has actually remained with the Bank or the Contracted Rate whichever is lower.
Interest will be paid after deducting penalty of 1% from such applicable rate or the contracted rate, whichever is lower, in the cases which are subject to charging penalty. i.e. Deposit not satisfying above mentioned condition.
NRI Fixed Deposit accounts offered by Bank of Baroda
Bank of Baroda offers many fixed deposit schemes specially designed for its NRI customers. In these schemes, NRI customers can deposit money either in Indian currency or in foreign currency depending on their status and preference. The bank also offers different interest rates for NRI fixed deposits. Following types of NRI fixed deposits are offered by Bank of Baroda:
| NRI Account Type | Details |
|---|---|
| NRE Account (Non Resident External Account) | Account is maintained in Indian currency |
| NRO Account (Non Resident Ordinary Account) | This either be funded by conventional payment or through traveller's cheques |
| FCNR Account (Foreign Currency Non Resident Account) | It is maintained in foreign currency |
| RFC Account (Resident Foreign Currency Account) | In this, customer to maintain the account in foreign currency even after returning to India permanently |
How and when to apply for exemption on TDS?
- If your total taxable income during the financial year is not likely to exceed the maximum amount which is not chargeable to income tax, then you can submit self declaration in Form 15G or 15H (for senior citizens only) to the bank to ensure non deduction of tax at source.
- The declaration has to be given in prescribed format only wherein the valid 10 digit PAN is also required.
- It may be noted that if the interest payable by the bank during the financial year on time deposits is likely to exceed the maximum amount which is not chargeable to income tax, then the Form 15G submitted will be treated as invalid.
- In case of Senior Citizens, if the interest payable by the bank during the financial year on time deposits is likely to exceed the maximum amount which is not chargeable to tax and deduction(s) under chapter VIA, if any, for which declarant is eligible, then the Form 15H submitted will be treated as invalid.
You may refer to following table for more details:
| Category | Name of Form | Exemption limit (Male) | Exemption limit (Female) |
| Individuals(upto age of 60) | Form 15G | Rs.2,50,000 | Rs.2,50,000 |
| HUFs, Associations, Trusts | Form 15G | Rs.2,50,000 | Rs.2,50,000 |
| Individual (age 60 years and above but less than 80 years) | Form 15H | Rs.3,00,000 | Rs.3,00,000 |
| Individual (age 80 years and above) | Form 15H | Rs.5,00,000 | Rs.5,00,000 |
| Others | Exemption certificate issued by Income Tax Officer | As per Exemption Certificate | As per Exemption Certificate |
Bank of Baroda Fixed Deposit FAQ
- What is the minimum amount required to open a fixed deposit with BOB?
The minimum amount for a fixed deposit is Rs.100
- In which scheme do I need to deposit to get Income Tax rebate under Sec 80C?
You can make investment under Baroda Tax Savings Term Deposit to get Income Tax rebate under Sec 80C of Income Tax Act
- Is TDS deducted for FD accounts?
Yes, TDS is applicable as per rules and the customer will get TDS Certificate at the end of each financial year. A person can exempt from TDS, if he/ she submits Form 15G/ Form 15H in the beginning of each financial year
- Can I deposit additional amount in my FD account?
No, you cannot deposit any additional amount in your existing FD account.
- What is the tenure range for BOB Fixed Deposit?
It is from 7 days to 10 years.
- What is the benefit to senior citizen in BOB FD?
Senior citizens get a 0.50% higher rate on their deposits compared to normal FD rates for all tenures for investment amount less than Rs 1 crore.
- Can I change the tenure of my existing FD?
No, you are not allowed to change the tenure of FD.
Tax Implications and TDS in FD
- An amount invested in fixed deposits in a scheduled bank is eligible for tax deduction under section 80C. Only the interest earned on the deposit is taxable.
- Tax will be deducted at source (TDS), if the interest income on a fixed deposit per annum exceeds Rs.10,000
- A person can exempt from TDS, if he/ she submits Form 15G/ Form 15H in the beginning of each financial year
Factors affecting Fixed Deposit Interest Rates
- Change in Policies Rates by RBI: If there is a change in Cash Reserve Ratio (CRR) and/ or Repo Rate, it affects the fixed deposit interest rate.
- Inflation: As FD interest rate has to be kept higher than inflation by the banks, hence if inflation increases then FD interest rates also go higher. When inflation decreases, banks offer lower interest rates so that people can borrow and spend more.
- Demand and Supply of Credit: With the increase in demand of the credit/ loan, interest rates of fixed deposit also go higher. When the supply is more than the demand of credit, banks offer lower interest rates on fixed deposit.
- Growth Uncertainty: If there is any uncertainty of future economic growth, the banks need to offer higher interest rates on FD as a compensation for higher default risks.
- State of Economy: If a country's economic state is very good then the banks of that country offer higher interest rate on fixed deposits in order to attract more investments to extend more credits/ loans.
- Recession: Whenever there is a situation of recession in an economy, it always results into a decrease in the fixed deposit interest rate, as in case of situation of recession, the RBI needs to increase the liquidity in the market by releasing the funds i.e. by lowering CRR and hence, banks reduce the FD interest rates.
- Global Liquidity: Higher global liquidity results into higher domestic liquidity. In such cases banks will offer lower interest rates on FD.
Bank of Baroda FD News Apr 2024
- October 10, 2023: Bank of Baroda has increases interest rates on fixed deposit rates by up to 50 basis points (bps) across various tenors for up to 3 years w.e.f. October 9, 2023.
- May 12, 2023: Bank of Baroda hikes FD interest rates by 30 bps; senior citizens to get up to 7.75%
- April 14, 2021: Special fixed deposit (FD) schemes offering higher interest on FDs for senior citizens have been extended till 30 June 2021
- July 15, 2020: Bank Of Baroda Concludes Fund Raising Via AT-1 Bonds
- June 02, 2020: Bank of Baroda has revised its FD rates w.e.f 02.06.2020
- January 30, 2020: Bank of Baroda signs MoU with Govt of Gujarat for easier credit flow to MSME
- January 27, 2020: Bank of Baroda's gross NPA ratio declined to 10.43% as against 10.91% in the third quarter i.e. December 2019 quarter
- January 25, 2020: Bank of Baroda reports consolidated net loss of Rs 1219.04 crore in the December 2019 quarter
- January 20, 2020: The Appointments Committee of the Cabinet (ACC) appointed Sanjiv Chadha as the managing director and chief executive of Bank of Baroda