Baroda Fixed Deposit Rate
Bank of Baroda Fixed Deposit Rate - FD Rate in India
A Fixed Deposit (FD) is one of the most popular financial investment schemes in India. As the name suggests, money is put into a fixed deposit account which can’t be withdrawn except on payment of a penalty. The money in an FD accrues interest and the initial amount plus interest is paid out at maturity.
This scheme is popular in India as it is considered a safe and reliable form of investment which provides a higher rate of interest than a regular savings account.
The returns are free from volatility, hence considered to be a low-risk form of saving. However, the rewards are proportionately low when compared to investing in the stock market, for example, which is more risky and prone to fluctuations.
Money can be deposited in an FD account for a period that generally ranges from 7 days to 10 years. Banks are free to set their own FD interest rate which in India typically ranges from 3.5% - 8% depending on various factors - the tenure, principal amount, and kind of fixed deposit scheme amongst other factors.
If you have some idle money, you can consider investing it in an FD account and accrue interest. Depending on the period, various fixed deposit products help you get the best out of your savings by offering good interest rates. Opening an FD is easy and requires minimal documentation.
Once the deposit matures, the bank credits the original amount plus the interest earned to the bank account specified by you when the FD is opened. Apart from banks, NBFCs and corporates too offer fixed deposits.
Bank of Baroda deposit rates
The rate of interest paid on a fixed deposit varies according to the amount deposited, period and the issuing bank. Bank of Baroda Interest Rates typically ranges from 4%-9% per annum.
Bank of Baroda FD rates
Following is an overview of Bank of Baroda Term Deposit Rates and Bank of Baroda Short-Term Fixed Deposit Interest Rates.
Bank of Baroda Interest Rates on Fixed Deposits 2015 – 2016:
(Do keep in mind that these rates can change at any time and can be changed at the sole discretion of the Bank. For the latest rates, it is advisable to check with Bank of Baroda directly.)
Interest Rate on Term Deposits & NRO Deposits Below Rs. 1 Crore
|7 days to 14 days||4.50%|
|15 days to 45 days||4.50%|
|46 days to 90 days||6.50%|
|91 days to 180 days||6.50%|
|181 days to 270 days||7.30%|
|271 days & above and less than 1 year||7.30%|
|1 year and above up to 2 Years||7.30%|
|Above 2 Years and up to 3 Years||7.30%|
|1111 Days (Baroda Maha Utsav Deposit Scheme)||7.30%|
|Above 3 Years and up to 5 Years||7.30%|
|Above 5 Years and up to 8 Years||7.30%|
|Above 8 Years and up to 10 Years||7.30%|
Interest Rate on Term Deposits & NRO Deposits of Rs. 1 Crore to Rs. 10 Crore
|7 to14 Days||4.50%|
|15 to 45 Days||4.50%|
|46 to 90 Days||6.25%|
|91 to 180 Days||6.50%|
|181 to 270 Days||6.40%|
|271 days & above and less than 1 year||6.60%|
|Above 1 yr. and up to 2 years.||6.75%|
|Above 2 yrs. and up to 3 years.||6.75%|
|Above 3 years and up to 10 years.||6.75%|
Interest Rates for Domestic Term Deposits & NRO Deposits of more than Rs. 10 Crore & Up to Rs. 50 Crore
|Tenure||Above Rs 10 crore to Rs 25 crore||Above Rs 25 crore to Rs 50 crore|
|7 to14 Days||4.50%||4.50%|
|15 to 45 Days||4.50%||4.50%|
|46 to 90 Days||6.25%||6.00%|
|91 to 180 Days||6.50%||6.50%|
|181 to 270 Days||6.40%||6.40%|
|271 to Less than 1 Year||6.60%||6.60%|
|>1yr up to 2 years||6.75%||6.75%|
|>2yrs up to 3 years||6.75%||6.75%|
|>3yrs up to 10 years||***||***|
Interest Rates for Domestic Term Deposits & NRO Deposits of more than Rs. 50 Crore & above Rs. 100 Crore
|Tenure||Above Rs. 50 crores to Rs. 100 crores||Above Rs. 100 crores|
|7 to 14 Days||4.50%||4.50%|
|15 to 45 Days||4.50%||4.50%|
|46 to 90 Days||6.00%||6.00%|
|91 to 120 Days||6.25%||6.25%|
|121 to 180 Days||6.25%||6.25%|
|181 to 239 Days||6.40%||6.40%|
|240 to 270 days||6.40%||6.40%|
|271 days to 330 Days||6.60%||6.60%|
|331days to less than 1 year||6.60%||6.60%|
|>1yr to 2 years||***||***|
|>2yrs up to 3 years||***||***|
|>3yrs up to 10 years||***||***|
Bank of Baroda Tax Savings Term Deposit Interest Rate
|Maturity Range||Interst Rate per annum - less than Rs 1 Cr.|
|For 5 years||7.30%|
|Above 5 years and up to 6 years 3 months||7.30%|
|Above 6 years 3 months and up to 10 years||7.30%|
Note that for Tax saving deposits, there is a lock-in period of 5 years and premature withdrawal is not allowed before completion of 5 years, except in case of death of the customer.
Bank of Baroda FD Interest Rates for Senior Citizens
Bank of Baroda Bank offers special Senior Citizen FD Rates which is are a small percentage over the rates for a regular FD. Right now, Bank of Baroda Senior Citizen FD Rates offer an additional interest of 0.50 % over the standard FD rate, payable for Fixed Deposits below Rs 1 Crore only. The bank revises its interest rates from time to time, hence it is advisable to check with the bank directly.
How to Calculate Bank of Baroda Bank Fixed Deposit Interest
You can use online resources to calculate the interest accrued on your Bank of Baroda FD. There are several online sites that allow you to instantly calculate the interest earned. All you have to do is enter the FD amount, tenure and rate of interest – the calculator will do the rest and present you with a breakup of the interest earned and the maturity amount. You can enter as many combinations as you want, and the calculator will give you instant and accurate results. You can use these online FD calculator to identify what your final maturity amount will be and to invest accordingly.
You can also calculate the interest earned and the maturity value on the principal amount using the following formula.
Calculate IDBI FD Rate
A = P x (1 + r/n)nt
I = A - P
A = Maturity Value
P = Principal Amount
r = Rate of Interest
t = Number of Years
n = Compounded Interest Frequency
I = Interest Earned
Bank of Baroda Bank FD Premature Withdrawal Penalty
Breaking a fixed deposit before the maturity date is possible and might come in handy if you are in an urgent need for extra funds, as in the case of a medical emergency. In such cases, the bank will allow partial or complete withdrawal of the deposit amount before the maturity date.
The bank typically charges a nominal penalty which is communicated to you at the time of opening of the Deposit, subject to the terms and conditions agreed upon.
Bank of Baroda Bank FD – FAQS
What is the eligibility for opening an FD account with Bank of Baroda Bank?
All resident individuals including minors and Hindu undivided families are eligible to open an FD account with Bank of Baroda.
What is the documentation required for individuals to open an FD account in Bank of Baroda?
Documentation is relatively simple. You would be required to submit the completed application form along with supporting documents: Identity proof, Address proof, Signature proof and Age proof (for senior citizens) and a photograph.
For how long can I keep my deposit?
You can open a fixed deposit account for any period ranging from 7 days to as long as 10 years. Upon maturity of your deposit, you are paid your original deposit amount plus the interest accrued.
Can I deposit additional amount in my FD account?
Once you open an FD account, it is not possible to deposit additional amounts. If you want to invest any additional amounts, you will need to open a new FD account.