The Bank of Baroda FD rates are very attractive, particularly for senior citizens, making it a preferred choice for those seeking higher investment returns than regular savings accounts. BOB FD rates starts from 3.00% to 7.25% for regular citizens and 3.50% to 7.75% for senior citizens. It offers flexible investment duration, catering to short-term and long-term preferences. Apart from the attractive FD rates, other aspects are worth exploring when considering the Bank of Baroda fixed deposit as an investment opportunity.
Bank of Baroda FD Rates for 2023
The fixed deposit rates offered by the Bank of Baroda in 2023 are as follows:
|Tenure||General Citizen FD Rate||Senior Citizen FD Rate|
|7 days – 1 month 15 days||3.00%||3.50%|
|1 month 16 days – 5 months 27 days||4.50%||5.00%|
|5 months 28 days – 6 months 27 days||5.25%||5.75%|
|6 months 28 days – 11 months 29 days||5.75%||6.25%|
|11 months 30 days – 1 year 1 month 2 days||6.75%||7.25%|
|1 year 1 month 3 days – 1 year 11 months 29 days||7.25%||7.75%|
|2 years – 2 years 11 months 30 days||7.05%||7.55%|
|3 years – 4 years 11 months 29 days||6.50%||7.15%|
|4 years 11 months 30 days – 9 years 11 months 28 days||6.50%||7.50%|
Bank of Baroda Non-Resident External (NRE) Fixed Deposit Interest Rates for Deposits below Rs. 2 Crore (with Early Withdrawal Option) w.e.f. 12th May, 2023
The following table shows the Bank of Baroda non-resident external fixed deposit interest rates for deposits below Rs. 2 Crore.
|Tenure||Interest Rate (%)|
|Above 1 year to 400 days||6.75|
|Above 400 days to 2 years||6.75|
|Above 2 years to 3 years||7.05|
|Above 3 years to 5 years||6.50|
|Above 5 years to 10 years||6.50|
|399 Days (Baroda Tiranga Deposit Plus Scheme )||7.25|
Bank of Baroda FD Interest Rates on FCNR (B) deposits w.e.f. 16th July, 2023
The Bank of Baroda offers various interest rates on FCNR(B) deposit accounts, which are as follows:
|1 year to less than 2 years||5%||1.5%||4.3%||3.6%||4.25%|
|2 years to less than 3 years||3.95%||1.5%||4.1%||3.5%||2.35%|
|3 years to less than 4 years||3.8%||1.5%||3.85%||3%||2.45%|
|4 years to less than 5 years||3.85%||1.5%||3.7%||3%||2.45%|
Bank of Baroda Bulk Deposit Rates (Above Rs.2 crore)
The following table shows the Bank of Baroda bulk deposit rates above Rs.2 crore
|Tenure||Interest Rates for Deposits of Rs. 2 crore to less than Rs.10 crore||Interest Rates for Deposits of Above Rs.10 crore|
|7 days to 14 days||4.00%||4.50%|
|15 days to 45 days||4.50%||5.00%|
|46 days to 90 days||5.25%||5.50%|
|91 days to 180 days||5.00%||6.00%|
|181 days to 270 days||5.00%||7.00%|
|271 days to less than 1 year||6.00%||7.25%|
|Above 1 year to 15 months||6.25%||7.00%|
|Above 15 months to 2 years||6.25%||7.00%|
|Above 2 years to 3 years||6.00%||6.00%|
|Above 3 years to 5 years||5.25%||5.25%|
|Above 5 years and up to 10 years||5.00%||NA|
Baroda Tax Savings Fixed Deposit w.e.f. 12 May 2023
|Tenure||Interest Rate for Regular Individuals||Interest Rates for Senior Citizens|
|For 5 years||6.50%||7.15%*|
|Above 5 years to up to 10 years||6.50%||7.50%**|
- Additional senior citizen rates is applicable to resident Indian senior citizens only
- *Additional interest rate: 0.50% + 0.15%
- **Additional interest rate: 0.50% + 0.50%
What is the Bank of Baroda FD Calculator?
The Bank of Baroda FD calculator is a unique online tool designed to help individuals predict the potential returns from their FD investments. Unlike traditional calculators, this calculator offers a personalised and comprehensive approach to financial planning, allowing users to make informed investment decisions.
How to Use Bank of Baroda FD Calculator?
There are two ways through which individuals can estimate the returns from FD investments. The two approaches that the BOB FD calculator offers are the Investment Amount Approach and the Target Amount Approach.
- The Investment Amount Approach
- The Target Amount Approach.
Investment Amount Approach: If you already know the amount you wish to invest in a Bank of Baroda fixed deposit, this approach is perfect for you. Here’s how to use the Bank of Baroda FD calculator:
- Start by entering the investment amount you plan to deposit in the Bank of Baroda FD scheme.
- Next, use the slider to adjust the desired tenure of your FD investment. Bank of Baroda offers flexible tenures ranging from one to five years.
- Then, adjust the interest rate on the FD using the slider.
- Choose the compounding period for your Bank of Baroda fixed deposit. You can select from various options such as monthly, quarterly, half-yearly, or yearly. The compounding period determines how frequently interest is calculated and added to your investment. Make sure to select the one that suits your needs.
- Finally, indicate whether you are a senior citizen, as most banks provide preferential interest rates to senior citizens.
Benefits of Bank of Baroda FD calculator
- Better Decision-Making: Individuals can make more informed investment decisions and effectively plan and achieve their financial goals by estimating potential returns.
- Comparative Analysis: By using this tool, individuals can identify the primary factors that significantly affect the interest earned, enabling them to make informed investment decisions.
- Comparison of FD Options: With numerous fixed deposit offerings available from different banks and non-banking financial companies, the Baroda Bank Fixed Deposit calculator enables users to compare different offerings and select the one that best suits their requirements.
To open a Bank of Baroda fixed deposit, you must make a minimum deposit of INR 1,000. There is no upper limit on the maximum deposit amount for Bank of Baroda FD.
Bank of Baroda provides a range of interest rates for senior citizen fixed deposits, starting from 3.5% and going up to 7.75% per annum. These rates vary based on the chosen investment duration, with minimum and maximum options available.
Bank of Baroda does not limit the number of FDs you can open. Feel free to open as many as you need.
Bank of Baroda fixed deposit interest rates are subject to market fluctuations, resulting in variable rates. The specific frequency of these changes cannot be predetermined.
To determine the doubling time for a Bank of Baroda fixed deposit, the 72 rule can be applied. Divide 72 by the interest rate to find the number of years it takes for the FD to double. Currently, the Bank of Baroda offers a maximum FD interest rate of 7.25%, meaning investors can expect their investment to double in approximately 9.93 years. For senior citizen depositors, who receive the highest FD rate of 7.75%, their investment will double in approximately 9.29 years.