Bank of Baroda Fixed Deposit Schemes 2025

Features of Baroda Advantage Term Deposit (Non-Callable)

1. FD account can be maintained jointly
2. Minors above 14 years of age can open this account
3. Minimum value for deposit: Rs.15,01,000
4. Range of maturity period: 1 year to 10 years
5. Interest rates: 6.85% p,a.to 7.15% p.a.
6. Half-yearly interest payout (every 6 months)
7. No premature withdrawals allowed
8. FDs under Rs.1 crore will be renewed automatically after 1 year
9. An account holder would have to give instructions to the bank in order to renew deposits above Rs.1 crore
10. Overdraft facility and loan facility available against the deposit for up to 85% of the deposit value
11. Senior citizens get a 0.50% increase in rates for FDs under Rs.1 crore
12. Interest income will be taxed as per Tax Deducted at Source (TDS)

Features of BOB Suvidha FD Scheme

1. Easy liquidity of funds
2. Minimum value of investment: Rs.5,000
3. Range of maturity period: 1 year to 5 years
4. Payment of interest: Half-yearly
5. Premature closure permitted
6. Deposits renewed automatically after 1 year minimum
7. Overdraft facility and loans can be applied for against the deposit
8. 0.50% higher interest rate to senior citizens
9. Account can avail nomination facility
10. Interest income will be under taxation based on TDS

Features of Regular Income Plan

1. Lower limit of deposit: Rs.1,000
2. Tenure range: 1 year to 10 years
3. Quarterly interest payout
4. FD has auto-renewal for at least 12 months
5. One can apply for the overdraft facility against the Term Deposit
6. A depositor can appoint a nominee as a beneficiary
7. As per the Income Tax Act, 1961, the interest will be subject to taxation under TDS
8. The FD rates for Senior Citizens are 0.50% higher than standard rates (deposits to Rs.1 crore)

Features of Monthly Income Plan

1. Minimum funds required: Rs.1,000
2. Time period: 1 year to 10 years
3. Monthly interest payout
4. One can make premature withdrawals
5. Term Deposits renewed automatically for a minimum of 1 year
6. An investor can apply for loans against the FD
7. After at least 1 year, the FD is automatically renewed
8. The Term Deposit comes with facilities such as nomination and overdraft
9. BOB lets one avail loans against the FD
10. BOB gives 0.50% hike on interest rates to Senior Citizens
11. The interest earned on Monthly Income Plan is taxed based on TDS

Features of Baroda Tax Savings FD Scheme

1. Minimum amount for investment: Rs.100
2. Maximum deposit amount: Rs.1.50 lakh
3. Interest rate of 6.50% p.a. for tenure ranging from 5 years to 10 years.
4. Maturity period range: 5 years to 10 years
5. Quarterly compounding of interest
6. Premature withdrawal allowed after 5 years only
7. For deposits under Rs.1 crore, senior citizens get a higher rate of 0.50%
8. Interest income is taxed under TDS

Penalty For Premature Withdrawal For BoB Term Deposits

1. If the depositor wishes to prematurely withdraw from a deposit under Rs.5 lakh, no penalty is charged for the same.
2. The deposit must have been held by the bank for at least 1 year.
3. Premature withdrawals of deposits of Rs.5 lakh to less than Rs.1 crore is charged with a penalty of 1%.
4. This is applicable for deposits which have been held by the bank for less than 1 year.

BOB Fixed Deposit Rates: Under Rs.3 crore

Note: Bank of Baroda can change the interest rates at any given time without prior notice. The above-mentioned interest rates are effective from 14 October 2024.      

Eligibility Criteria For Individuals BOB Fixed Deposits

1. Resident of India
2. Karta of Hindu Undivided Family

Documents Needed For Individuals

1. An introduction of the applicant according to BOB’s guidelines
2. Recent color passport-size photograph of the applicant
3. Valid identity proof and address proof
4. Permanent Account Number (PAN) card/ Form 60