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What is a Bank of Baroda FD Interest Calculator?
Types of Bank of Baroda Fixed Deposit Schemes
Plan Name | Features |
BOB Short Term Deposits Scheme |
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Baroda Advantage Fixed Deposits (Non-Callable FD) |
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BoB Suvidha Flexible FD Scheme |
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Baroda Regular Income cum recurring Deposit Plan |
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Monthly Income Plan |
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Baroda Tax Savings Fixed Deposits Scheme |
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How to Use a Bank of Baroda FD Calculator?
It is always recommended to calculate the prospective returns before parking your money in a particular FD scheme or any other investment avenue. In this case, you must consider utilising a Baroda Bank FD calculator for seamless investment planning.
It is a simple tool where you put a required principal and the desired tenure while the interest remains per the bank’s current rate. Next, you get to see precise results regarding the amount gained. Instead of a rough percentage, as you get to see real-time figures, financial planning gets a stronger foundation.
Here are the steps to be followed to properly utilise the Bank of Baroda fixed deposit interest rate calculator:
Step 1: Open the online Bank of Baroda fixed deposit rates calculator
Step 2: Select the deposit type, tenure, interest rate and initial deposit
Step 3: Click the ‘Calculate’ button
Step 4: Check the total interest earned and the maturity amount that shall be in your account at the end of the tenure
How is Bank of Baroda FD Interest Calculated?
- A= P(1+r/n)^n*t
Benefits of Using a Bank of Baroda FD Interest Rates Calculator
- Easy investment decisions owing to goal-based suggestions
- Real-time analysis of how the FD investment may be improved by adjusting the tenure and principal
- Clear projection of the closing balance and interest earned via representation made in tabular and graphical format
Bank of Baroda FD Calculator : FAQs
The Bank of Baroda fixed deposit interest rates vary between 3.00% and 7.75%. Moreover, you become eligible for a complimentary deposit insurance scheme of Rs.5 lakhs and may also avail of a loan against the FD.
If you intend to stay invested for about 3 years, then you may expect a maturity amount of Rs.61,738 at an interest return of 7.05% p.a. On the other hand, a 5-year FD can harvest you around Rs.69,141 with an interest of 6.5%.
You can initiate an FD account in the Bank of Baroda with a minimum investment of Rs.1,000. Also, the interest is credited as per your preference.