• BOB Regular Income Plan

    The Bank of Baroda Regular Income Plan is a type of fixed deposit account that provides a supplementary income on a monthly or quarterly basis. It offers the convenience of security of your hard-earned money along with easy liquidity of up to 95% of the deposit amount. Senior citizens get an additional 0.50% interest rate for deposits below Rs.1 crore.

    Eligibility criteria for BOB Regular Income Plan

    The account can be opened by individuals and non-individuals. The account requires minimal formalities in terms of documentation such as:

    • Proof of residence
    • Passport size photograph
    • Introduction as per norms of the bank
    • Filled in application form

    Features of BOB Regular Income Plan

    Account Type Single/Joint

    Min – Rs.1,000 with subsequent withdrawals in multiples of Rs.100

    Max – N/A

    Rate of Interest

    Min – 3.25%

    Max – 5.25%


    Min – 12 months

    Max – 120 months

    TDS TDS applicable as per regulations from the Income Tax department
    Loan against ICICI Money Multiplier Plan NA
    Nomination Nomination facility available
    Auto Renewal Yes, unless otherwise mentioned

    BOB Regular Income Plan interest rates

    The plan offers competitive interest rates which are compounded quarterly, allowing you to accrue more interest that on a purely annual compounded scheme. The FD interest rates for different slabs of deposits are as follows:

    Tenure Deposits below Rs.2 crore (p.a.) Rs.2 crore to Rs.10 crores (p.a.) Rs.10 crores to Rs.50 crores (p.a.) Above Rs.50 crore to Rs.100 crore (p.a.) Above Rs.100 crore (p.a.)
    1 year 4.90% 3.55% 3.55% 3.55% 3.55%
    Above 1 year to 2 years 5.00% 3.25% 3.25% 3.25% 3.25%
    Above 2 years and up to 3 years 5.10% 4.10% 4.10% 4.10% 4.10%
    Above 3 years and up to 5 years 5.25% 3.25% 3.25% 3.25% 3.25%
    Above 5 years and up to 10 years 5.25% 3.25% - - -

    *Above mentioned rates are linked to the bank’s base rate and are subject to change as per the bank’s discretion. Rates are as of July 2021.

    Apart from the rates discussed above, senior citizens will receive an additional interest rate of 0.50% above normal rates.

    FAQs on BOB Regular Income Plan

    1. Can I opt for premature withdrawal?

      Yes, premature withdrawal is allowed on completion of 1 year of the deposit tenure since the date of inception. Premature withdrawals made up to Rs.5 lakhs will not attract any penalty and you will continue to accrue interest at defined rates. However, premature withdrawal of higher amounts will result in a penalty, which is 1% less interest rate on the deposits compared to the original quoted rate.

    2. What is the maximum limit of deposits?

      There is no maximum limit on deposits. However, all deposits above Rs.10 crore can only be made with prior permission from a branch.

    3. How do I opt for renewal of deposits?

      You can renew your deposits by providing the letter of request in the given format. In case the receipt for the deposit has been lodged with a government agency as security, the account will get renewed through a letter of request and a registered letter from the relevant agency stating the particulars.

    4. What are the preferential rates for senior citizens?

      Senior citizens over the age of 60 years will receive interest at an additional rate of 0.50% over the normal rates outlined above. This rate is applicable on deposit values over Rs.10,000.

    5. How do I make deposits?

      You can make the deposits through multiple modes:

      • Credit from your BOB account.
      • Online transfer through NEFT or RTGS.
      • DD or banker's cheque

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