Interest for 3 years
Note: All interest rates shown below are as on 22nd Jun 2021
|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 1 month 14 days||2.8%||3.3%|
|1 month 15 days - 5 months 29 days||3.7%||4.2%|
|5 months 30 days - 8 months 27 days||4.3%||4.8%|
|8 months 28 days - 11 months 29 days||4.4%||4.9%|
|1 year - 1 year||4.9%||5.4%|
|1 year 1 day - 2 years||5%||5.5%|
|2 years 1 day - 2 years 11 months 29 days||5.1%||5.6%|
|3 years - 9 years 11 months 28 days||5.25%||5.75%|
Bank of Baroda is a pioneer in various customer centric initiatives in the Indian banking sector. Services offered by the bank includes Retail banking , ECS, Rural and agri banking, Corporate banking. Bank of Baroda (BoB) was founded by Maharaja Sayajirao Gaekwad in July 1908. The bank is an Indian state-owned International banking and financial services company headquartered in Vadodara (earlier known as Baroda). The bank has a balance sheet size of Rs. 11.6 Lakh Crs as on 31st March 2020 The bank recorded a profit of Rs 546 Crs in FY20
2.8% - 5.25%
3.3% - 6.25%
FD Rate for Seniors
₹ 2 Crores
Flexible tenure & partial withdrawal facility, without the hassle of opening a savings account.
|Investment Amount||For 3 years with interest of 5.25%||For 5 years with interest of 5.25%|
|₹ 1 lakh||₹129943||₹129943|
|₹ 2 lakh||₹259886||₹259886|
|₹ 5 lakh||₹649716||₹649716|
|₹ 10 lakh||₹1299432||₹1299432|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹105012||₹ 101764|
|Total Investment Amount||₹ 100000||₹ 100000|
|Total Interest Gained||₹5012|
|Income Tax on Wealth Gained||₹ 12898||₹ 13092|
|Bank Name||FD Interest Rates|
|Dhanlaxmi Bank||5.4% - 5.9%|
|Tamilnad Mercantile Bank||5.5% - 5.5%|
|IDBI Bank||5.3% - 5.8%|
|Bank of India||5.15% - 5.65%|
|Sundaram Finance||6.25% - 6.75%|
|AU Small Finance Bank||6.25% - 6.75%|
|Canara Bank||5.5% - 6%|
|Axis Bank||5.4% - 5.9%|
|Mahindra Finance||6.3% - 6.55%|
|PNB Housing Finance Ltd||6.6% - 6.85%|
|IDFC First Bank||5.75% - 6.25%|
|State Bank of India||5.3% - 5.8%|
|HDFC Bank||5.15% - 5.65%|
|LIC Housing Finance||5.75% - 6%|
|Tamil Nadu Power Finance||7.75% - 8.25%|
|Jammu & Kashmir Bank||5.3% - 5.8%|
|Bajaj Finance||6.5% - 6.75%|
|Yes Bank||6.25% - 7%|
|RBL Bank||6.3% - 6.8%|
|Punjab and Sind Bank||5.3% - 5.8%|
|Kotak Mahindra Bank||5.1% - 5.6%|
|IndusInd Bank||6% - 6.5%|
|Central Bank of India||5% - 5%|
|DCB Bank||6.5% - 7%|
|Bandhan Bank||5.25% - 6%|
|Fincare Small Finance Bank||6.25% - 6.75%|
|DBS Bank||5.5% - 5.5%|
|Indian Overseas Bank||5.2% - 5.7%|
|Karur Vysya Bank||5.5% - 6%|
|Equitas Small Finance Bank||6.35% - 6.85%|
|City Union Bank||5.5% - 6%|
|SCB Bank||5.35% - 5.85%|
|Karnataka Bank||5.5% - 5.9%|
|South Indian Bank||5.5% - 6%|
|HDFC Ltd Fixed Deposit||6.05% - 6.3%|
|Bank of Maharashtra||4.9% - 5.4%|
|ICICI Housing Finance Company||6.05% - 6.3%|
|ESAF Small Finance Bank||5.75% - 6.25%|
|Indian Bank||5.15% - 5.65%|
|Shriram Finance||8% - 8.4%|
|Federal Bank||5.35% - 5.85%|
|ICICI Bank||5.15% - 5.65%|
|Ujjivan Small Finance Bank||6.75% - 7.25%|
|Post Office||5.5% - 5.5%|
|Punjab National Bank||5.1% - 5.6%|
|Union Bank of India||5.4% - 5.4%|
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Bank of Baroda offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on BoB FDs is higher in their savings account. One can invest in BoB FDs through both online and offline modes with just a minimum investment of INR 1,000. This article covers BoB FD, its features and interest rates in detail.
Following are the types of Bank of Baroda fixed deposit schemes:
One can open a Bank of Baroda FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open a Bank of Baroda FD account through internet banking:
To open a Bank of Baroda FD account offline, one has to visit the nearest Bank of Baroda branch. Fill the Bank of Baroda FD application form and submit all the necessary documents along with the deposit amount. On successful verification of the application, the Bank of Baroda will open the account and provide an FD receipt.
Bank of Baroda offers recurring deposits to its depositors. BoB recurring deposits have a minimum tenure of six months and a maximum tenure of 10 years. Depositors can open an RD account either by going to the BoB branch or online using internet banking. The interest rate for regular citizens on BoB RDs is in the range of 3.7% to 5.1%, and for senior citizens, it is in the range of 4.2% to 5.6%.
Only investment in Bank of Baroda Tax Saving FD qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other BoB FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from BoB FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from Bank of Baroda FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the Bank of Baroda, then the TDS rate will be 20%.
Bank of Baroda guarantees returns in the form of interest on their FDs. Moreover, the Deposit Insurance Scheme of RBI covers all Bank of Baroda deposits. Also, the scheme covers all Bank of Baroda deposits up to INR 5,00,000. Hence Bank of Baroda FDs are safe for investment.
To know in how many years Bank of Baroda FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years BoB FD will double. For example, for a tenure of 5 to 10 years, the FD interest rate for senior citizens is 5.25%. An investor can double the investment amount by investing for this tenure in BoB FD in 13.71 years (72/5.25).
The minimum investment in Bank of Baroda FD is INR 1,000. However, there is no limit on the maximum amount of investment in Bank of Baroda FD.
Yes, investors can open a Bank of Baroda FD account online through their internet banking facility.
The highest FD rate for Bank of Baroda is 5.25% for a tenure of 5 years, one day to 10 years. For senior citizens, the highest Bank of Baroda FD rate is 5.75% for a tenure of 5 years, one day to 10 years.
Bank of Baroda FD rates range between 2.8% and 5.25% for regular citizens and between 3.3% and 5.75% for senior citizens. Moreover, BoB offers an additional 0.5% interest to senior citizens on their FDs. BoB gives the choice of interest payout frequency to the investors, and they can choose from the following – monthly, quarterly, half-yearly, yearly, or at maturity.
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