Fixed Deposit (FD) schemes offered by the Bank of Baroda at competitive interest rates with terms of seven days to 10 years. Bank of Baroda provides three different forms of FDs: 1988 Capital Gain Account Schemes, Short Term Deposits, and Long Term Deposits. Senior folks are given a higher interest rate on the FD scheme known as SUVIDHA Flexible Fixed Deposit Scheme.
The diversity and the Bank of Baroda are well-recognised in both urban and rural locations. Regarding the diversity of their clientele’s sectors and backgrounds, they have a sizable clientele. They also provide fixed deposit accounts with a tempting interest rate. Both individuals and organisations find the Bank of Baroda NRE FD rates and FD rates for domestic fixed deposits to be attractive.
In this blog, we have everything about the Bank of Baroda’s different fixed deposit rates, eligibility criteria, documents required, and benefits of owning an FD account.
Bank of Baroda Domestic Fixed Deposit Rates (Below Rs.2 crore)
| Tenure | Rate of Interest (p.a.) for General Public | Rate of Interest (p.a.) for Senior Citizens |
| 7 days to 14 days | 3.00% | 3.50% |
| 15 days to 45 days | 3.00% | 3.50% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 180 days | 4.50% | 5.00% |
| 181 days to 210 days | 5.25% | 5.75% |
| 211 days to 270 days | 5.75% | 6.25% |
| 271 days to Less than 1 year | 5.75% | 6.25% |
| 1 year | 6.75% | 7.25% |
| Above 1 year to 400 days | 6.75% | 7.25% |
| Above 400 days to Up to 2 years | 6.75% | 7.25% |
| Above 2 years to Up to 3 years | 6.75% | 7.25% |
| Above 3 years to Up to 5 years | 6.25% | 6.90% |
| Above 5 years to Up to 10 years | 6.25% | 7.25% |
| Above 10 years (MACT/MACADCourt Order schemes only) | 6.25% | 6.75% |
| 399 Days (Baroda Tiranga Plus Deposit Scheme) | 7.05% | 7.55% |
Note: Bank of Baroda FD rates can change at any given time without prior notice. The Bank of Baroda interest rates mentioned above came into effect on 26 December 2022.
Bank of Baroda Tax Savings Term Deposit Rates
| Tenure | Rate of Interest for the General Public (p.a.) | Rate of Interest for Senior Citizens (p.a.) |
| 5 years | 6.25% | 6.90% |
| Above 5 years to Up to 10 years | 6.25% | 7.25% |
Note: Bank of Baroda FD rates can change at any given time without prior notice. All the above-mentioned BIB FD interest rates are effective from 26 December 2022.
Bank of Baroda NRI FD Rates
You can check the Bank of Baroda NRE FD Rates 2023 and the latest BOB FCNR FD Rates 2023. With these two BOB FD schemes NRIs can avail the best benefits.
Bank of Baroda NRE FD Rates – Below Rs.2 crore
You can check the table below, displaying the NRE FD rates for the amount below Rs 2 crore.
| Tenure | Rate of Interest (p.a.) |
| 1 year | 6.75% |
| Above 1 year to 400 days | 6.75% |
| Above 400 days to Up to 2 years | 6.75% |
| Above 2 years to Up to 3 years | 6.75% |
| Above 3 years to Up to 5 years | 6.25% |
| Above 5 years to Up to 10 years | 6.25% |
| 399 Days (Baroda Tiranga Plus Deposit Scheme) | 7.05% |
Note: Bank of Baroda NRE FD rates can change at any time without prior notice. All the above-mentioned rates are in effect as of December 26, 2022.
Bank of Baroda FCNR FD Rates
You can check the Bank of Baroda FCNR rates below in the table for different countries:
| Maturity Period | USD | GBP | EUR | AUD | CAD |
| 1 Yr. to < 2 yrs. | 5 | 4.25 | 1.5 | 3.6 | 4.3 |
| 2 Yrs. to < 3 yrs. | 3.95 | 2.35 | 1.5 | 3.5 | 4.1 |
| 3 Yrs. to < 4 yrs. | 3.8 | 2.45 | 1.5 | 3 | 3.85 |
| 4 Yrs. to < 5 yrs. | 3.85 | 2.45 | 1.5 | 3 | 3.7 |
| 5 Years | 3.9 | 2.45 | 1.5 | 3 | 3.6 |
Note: Bank Of Baroda FCNR rates can change anytime without any prior notice. Further, all the above-mentioned interest rates came into effect on February 1, 2023.
Special FD Scheme offered by the Bank of Baroda for Senior Citizens
Monthly Income Plan (MIP)
Bank of Baroda’s Monthly Income Plan (MIP) is a popular savings scheme which provides its investors with a reliable and steady source of income. It is an ideal instrument for investment for people who are seeking for a regular source of income, which has low risk and capital protection. The scheme offers a variety of features such as flexible tenure, attractive interest rates, liquidity, and tax benefits. It also offers the flexibility to choose the tenure and amount of premium to be paid. It is a secure and efficient way to build retirement savings and generate a steady income stream. Some of the benefits of the scheme include the following:
- Auto renewal option available
- Loan/overdraft available
- Fixed income every month
- Additional 0.5% Interest for senior citizens
- No TDS if Form 15G/15H submitted
The Monthly Income Plan (MIP) from Bank of Baroda offers senior citizens an added layer of security and protection from the effects of inflation. The scheme facilitates the senior citizens to have a guaranteed income every month, along with the potential for capital gains, enabling senior citizens to plan for their future financial needs with greater peace of mind. The plan also offers tax benefits for senior citizens, allowing them to save more of their hard-earned money.
Types of Fixed Deposit Schemes Offered by Bank of Baroda
BOB FD rates are of the following types. These include:-
- Short Term Deposits
- Long Term Deposits
- Capital Gain Account Scheme, 1988
- SUVIDHA Flexible Fixed Deposit Scheme
Features and Benefits of Bank of Baroda Fixed Deposits
The primary benefits and features of the Bank of Baroda FD schemes are as follows:-
- The facility of nomination.
- Lockers are available for a safe deposit.
- Interest rates are competitive.
- The tenure period is from 7 days to 10 years.
- The facility of availing loans.
- Convenient withdrawal facility.
- Service of collecting cheques when you are outstation.
Eligibility Criteria Bank Of Baroda FD
Here are some entities and individuals eligible to open a BOB FD account:-
- Limited companies
- Associations, societies, and clubs
- Trusts
- Hindu Undivided Families (HUFs)
- Educational, charitable, and religious institutions
- Sole proprietorships
- Resident citizens
- Non-Resident Individuals (NRIs)
- Minors
- Partnership firms
Documents Required Bank Of Baroda FD
To be eligible for opening a fixed deposit account with the Bank of Baroda, 2023.
- Voter’s ID card, passport, Aadhaar card, and as asked by the bank to be used as Identity proof.
- PAN card.
- Aadhaar card, passport, utility bills, and Municipal Tax receipt, as residential evidence.
- 2 passport-size photographs.
Note:Bank of Baroda may require other documents and information.
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Frequently Asked Questions (FAQ’s):-
Which FD is best in the Bank of Baroda?
The FD scheme under Section 80C of the Income Tax Act is the most popular. For such FDs, the lock-in period is 5 years. You will get an annual relief of Rs. 1.5 lakhs.
Can I close a fixed deposit account in Bank of Baroda online?
Yes, you can close a fixed deposit by applying for a withdrawal and placing the request for the closure of the FD on maturity via your BOB bank branch. If your FD was created online, you can make the withdrawal online and request for the account to be closed.
What is the Bank of Baroda home loan interest rate?
For non-staff members, the Bank of Baroda home loan interest rate is from 8.90% to 10.55%. However, for staff members, the Bank of Baroda home loan interest rate is 9.10%.
What is the Bank of Baroda FD interest rate of 1 lakh?
The interest rate on Rs. 1 lakh by the Bank of Baroda for 5 years is 6.25%.
How can I deactivate my net banking account at the Bank of Baroda?
You can deactivate your net banking at the Bank of Baroda by contacting them on a 24 x 7 Bank of Baroda toll-free number. The numbers are 1800 258 44 55 and 1800 102 44 55.
How do I check the loan balance of a Bank of Baroda car loan?
You can check the loan balance of a Bank of Baroda car loan by calling 18002584455 or 18001024455. Both numbers are toll-free. However, if you are an existing customer, you can also receive the details using Bank of Baroda mobile and net banking services.
