Bank of Baroda NRE FD / NRO / FCNR FD Interest Rates

FAQs on Bank of Baroda NRI FD Rates

• What is the maximum number of years that I can open a Bank of Baroda NRE FD for?

  Bank of Baroda offers a maximum tenure of 10 years for the NRE fixed deposit account.

• What foreign currencies does Bank of Baroda allow for opening an FCNR (B) fixed deposit?

  You can open an FCNR (B) FD with Bank of Baroda for currencies such as the Euro, US dollar, Pound Sterling, and Australian Dollar.

• Is there an upper limit to the amount I can deposit in a Bank of Baroda NRE FD?

  No, there is no upper limit. Bank of Baroda offers NRE FD options for amounts ranging from less than Rs.2 crore to above Rs.50 crore.

• Does Bank of Baroda offer NRO fixed deposits for amounts below Rs.2 crore?

  Yes, Bank of Baroda offers NRO FDs for amounts below Rs.2 crore also.

• Are senior citizens offered higher interest rates in Bank of Baroda's NRE FD?

  Senior citizens are not offered any special FD interest rates for Bank of Baroda's NRE FD.

• What is the minimum duration for which I can hold a Bank of Baroda NRE FD?

  The minimum duration for which you can hold a Bank of Baroda NRE FD is 12 months. 

• Is the interest earned on Bank of Baroda NRE FD taxable in India?

  No, tax is not imposed on interest earned on Bank of Baroda NRE FD in India. 

• Can I avail myself of a loan against my Bank of Baroda NRE FD?

  Yes, Bank of Baroda (BoB) customers can avail themselves of a loan against BoB NRE fixed deposit (FD) scheme as the bank offers both loan and overdraft facilities against the NRE FD. 

• What happens if I lose my Bank of Baroda NRE FD receipt?

  In case the Bank of Baroda customer loses their BoB NRE FD receipt then the bank provides a procedure for issuing a duplicate receipt that requires proper identification and an indemnity bond. 

• Is there a penalty for premature withdrawal of the Bank of Baroda NRE FD?

  Yes, a penalty on premature withdrawal is applicable to Bank of Baroda NRE FD, but certain conditions can lead to a waiver of this penalty. 

• Can I open a joint NRE FD account with Bank of Baroda?

  The customers need to reach out to the Bank officials to get the details about the joint NRE FD account as the information provided does not specify joint account facilities for NRE FD.

• How often is the interest credited for Bank of Baroda NRE FD?

  The interest in Bank of Baroda NRE FD is credited every quarter, i.e., March, June, September, and December.

• Are there any additional benefits for senior citizens investing in Bank of Baroda NRE FD?

  Yes, senior citizen customers of Bank of Baroda investing in NRE FD would get an additional rate of interest ranging from 0.50% to 1.00% depending on the tenure of FD scheme. 

• Can I auto-renew my Bank of Baroda NRE FD?

  Yes, the Bank of Baroda NRE FD scheme provides an auto-renewal facility with a tenure of one year and above. 

• Is there a provision for nomination in the Bank of Baroda NRE FD?

  The customers of Bank of Baroda willing to invest in NRE FD scheme need to reach out to the bank to get every detail regarding nomination facility as the bank does not specify a nomination facility for NRE FD.