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  • Bank of Baroda RD Interest Rates

    Bank of Baroda offers attractive rate of return on recurring deposits. The term period of a Bank of Baroda recurring deposit account ranges from 6 months to 10 years. Bank of Baroda RD interest rate for regular citizens ranges from 6.25% to 6.70% while the rate of return for senior citizens varies from 6% to 7.20%.

    Listed below are the interest rates offered by Bank Of Baroda w.e.f. 5 May 2018, according to the tenure selected by the customer.

    Tenure Regular RD Interest Rates (p.a) Senior Citizen RD Interest Rates (p.a)
    180 days 5.50% 6.00%
    181 days to 270 days 6.25% 6.75%
    271 days & above and less than 1 year 6.35% 6.85%
    1 year 6.45% 6.95%
    Above 1 year to 400 days 6.70% 7.20%
    Above 400 days and upto 2 years 6.60% 7.10%
    Above 2 Years and upto 3 Years 6.60% 7.10%
    Above 3 Years and upto 5 Years 6.70% 7.20%
    Above 5 Years and upto 10 Years 6.60% 7.10%

    *The above interest rates are for investments less than Rs.1 crore

    Important Information to Note for Bank Of Baroda Recurring Deposit Scheme

    Some of the important details regarding Bank Of Baroda recurring deposit account are mentioned in the table below:

    Minimum Amount to be Deposited Rs.100
    Tenure 180 days to 10 years
    Additional Interest Rate for Senior Citizen 0.50%
    What is the Maximum Interest Rate and in which Tenure is it Offered? The maximum interest rate offered is 6.70% for the period 2 to 5 years.
    Loan Against Deposit* Maximum loan that can be availed: 95% of the deposit
    TDS on RD TDS will be deducted as per income tax rules.
    Penalty on Delayed Payment of Installments The penalty charged is Rs. 1 in addition to the GST for every Rs. 100/- p.m.

    Eligibility Criteria for Bank Of Baroda Recurring Deposit Scheme

    • Any person can open a Bank of Baroda recurring deposit account in his or her name.
    • A joint account can also be opened by 2 or more more people together.
    • Any minor under the guardianship of the legal or natural guardian can open the account.
    • Any club, association, educational institutions, joint stock companies provided that they are genuinely opening the account for saving money.

    Documents Required for Bank Of Baroda RD Scheme

    • A document which states the applicant’s proof of identity.
    • A document which states the proof of the applicant’s address of residence.
    • The passport size photograph of the applicant.

    How to Apply for Bank of Baroda RD

    A person can apply for a Bank of Baroda recurring deposit account by following the steps mentioned below:

    • For existing Bank of Baroda account holders to open a recurring deposit, Form 188 is required. For new customers, in addition to Form 188, Form 401 is also required.
    • In Form 188, start by filling out your bank account number.
    • Next fill the details of the amount and the scheme under which you will be depositing the money in the account.
    • Mention the date on or before which you will deposit the money into the account. Also mention the amount you are willing to receive from the bank every month.
    • Next, as the applicant, fill personal details such as your name, name of joint account holders if any, your PAN number, existing SB account number and the customer ID number.
    • You are also required to fill other personal information such as your age, profession, present and permanent address of residence.
    • Mention standing and maturity instructions if required.
    • Write your full name at the bottom of the application in block letters along with your signature.

    Premature Withdrawal of Bank of Baroda Recurring Deposit

    Sometimes an account holder might want a premature withdrawal of the recurring deposit account. This facility is available in Bank of Baroda.

    • If the account holder decides premature withdrawal of the recurring deposit within 14 days of depositing the principal amount then he or she can do so free of any charge.
    • If the account is being withdrawn prematurely due to the death of the account holder, no charges will be levied by the bank.
    • For premature withdrawal of recurring deposit account that has been opened by an individual, the bank levies a charge of Rs. 100. For premature closure of all other types of recurring deposit accounts, the bank charges Rs. 250.

    Short-Term Bank of Baroda Recurring Deposit Interest Rates

    • Bank of Baroda offers depositors the choice of maintaining a recurring deposit with the bank for a short term as well.
    • The minimum tenure available to depositors is 180 days. For a period of 181 days to 270 days, the interest rate offered on a recurring deposit worth less than Rs. One Crore is 6.25%.

    Medium and Long Term Bank of Baroda RD Interest Rates

    • Bank of Baroda Recurring Deposits can also be opened for a medium term of one to five years and for a long term tenure of more than 5 years up to a maximum period of 10 years.
    • For a deposit worth less than Rs. 1 crore over a period ranging from above 1 year and up to 400 days, the interest rate offered on general RD is 6.70%.
    • For deposits worth less than Rs. 1 crore over the medium term period ranging from more than 3 years up to 5 years, the interest rate applicable is 6.70%.
    • For a long term period ranging for more than 5 years, the rate of interest is 6.60%.

    Bank of Baroda RD Interest Rates for Senior Citizen

    • Senior citizens are eligible to avail an additional interest of 0.50% on the existing interest rates.
    • This is also applicable for former employees as well as current employees of the bank.
    • For a recurring deposit scheme for a short term tenure, the highest rate of return available is 6.95% which can be availed for the term period of a year.
    • For the medium term period, senior citizens and former as well as current employees of the bank can avail 7.20% interest rate for a period of above 1 year and upto 400 days and they can enjoy an interest rate of 7.10% for a period of 2 to 3 years.
    • For a recurring deposit scheme held for a period more than 5 years to maximum 10 years, an interest rate of 7.10% can be availed by senior citizens.

    Bank of Baroda Recurring Deposit Schemes

    Bank of Baroda offers different types of recurring deposit schemes in which a person can invest their money in. These are:

    • Baroda Samriddhi Quarterly Recurring Deposit: Under this recurring deposit plan offered by the Bank of Baroda, the amount is to be deposited quarterly. The depositor can take a loan upto 95% against the money deposited under this scheme. It also provides the facility of nomination. The minimum amount that the depositor can submit under this scheme is Rs.500 for every quarter while there is no upper limit. The minimum and maximum term period that can be availed under this scheme is 36 months and 120 months respectively.
    • Baroda Samriddhi Half-Yearly Recurring Deposit: Under this recurring deposit plan offered by the Bank of Baroda, the amount is to be deposited every 6 months. The depositor can take a loan upto 95% against the money deposited under this scheme. It also provides the facility of nomination. The minimum amount that the depositor can submit under this scheme is Rs.1000 while there is no upper limit. The minimum and maximum term period that can be availed under this scheme is 36 months and 120 months respectively.
    • Flexible Recurring Deposit Scheme: Under this scheme offered by Bank of Baroda, the interest will paid to the depositor only every 6 months which is in September and March. The minimum amount that has to be deposited to open an account is Rs.100. The monthly deposit amount can be increased only 3 times from the original amount to a maximum of Rs.10000. The term period for this scheme ranges from 12 months to 120 months. The instalment has to be paid every month. The interest earned on the deposit under this scheme can be availed at a period of 6 months.

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    News About Bank of Baroda Recurring Deposit Interest Rates

    • Bank of Baroda Reduces Their Interest Rates On Savings Account Deposits

      The leading bank in our country, State Bank of India recently left many of their customers perplexed by reducing their interest rate on savings bank account deposits. They reduced their interest rate on their savings deposit account. Following SBI, Bank of Baroda as well has reduced their interest rate on their savings account deposits to 3.5% on deposits of up to Rs.50 lakh.

      In a regulatory filing, Bank of Baroda stated that starting from 5 August 2017 they have decided to introduce a 2-tier savings bank interest rate. On the other hand, the bank has not changed the interest rates for deposits more than Rs.50 lakh.

      18 August 2017

    • Bank of Baroda Revises Recurring Deposit Rates

      Bank of Baroda (BOB) has made minor modifications to its recurring deposit rates for deposit that amounts up to INR 1 crore.

      Details are as follows:

      Those who have Recurring Deposits at Bank of Baroda with a tenure of six months will now receive an interest rate of 6.50% as opposed to 7.50% previously. RDs of senior citizens too saw a slight dip and it now stands at 7% when it was 8% before.

      Recurring Deposits for any period that ranges from one year to five years will receive 7.30% interest when it was 7.75% before. The rates for senior citizens with RDs too saw a sharp dip from 8.25% to 7.80%.

      Rates for deposits with tenure ranging from five years to ten years is now only 7.30% from the previous 7.50%. Rates given to senior citizens too were slashed by .20% and it now stands at 7.80% compared to the 8% before revision.

      2 March 2016

    Recurring Deposit - Sitemap

    BOB RD Rates Reviews

  • Page 1 of 1
    • Bank of Baroda Recurring Deposit
      "Good Bank"
      BANK OF BARODA
      0.5 5.0/5 "Blown Away!"
      I had Recurring Deposit account with Bank of Baroda. RD period was one year and every month I used to pay 2500 rupees. The interest rate was around 6% which is the same like other banks I believe. At the end of the year, they were able to release the amount on time.
      Was this review helpful? 7
      , hyderabad
      Reviewed on May 09, 2017
    • Bank of Baroda Recurring Deposit
      "Nice Bank"
      BANK OF BARODA
      0.5 5.0/5 "Blown Away!"
      Recently I invested in Recurring Deposit account with Bank of Baroda. The monthly payment was around 1000 rupees, therefore they did not deduct anything from my salary account. The tenure period is for five years. After five years, they would return my money 86000 rupees. Interest rate provided by them is very much nominal.
      Was this review helpful? 12
      , bangalore
      Reviewed on May 09, 2017
    • Bank of Baroda Recurring Deposit
      "Easy EMI for Start saving for future"
      BANK OF BARODA
      0.5 5.0/5 "Blown Away!"
      It is easy process to open RD through Netbaking in Bank of Baroda. I used to make the through auto debit in monthly bases with good interest rates. I could pay minimum of 500 to 1 Lakhs according to my convenient. Service and response was really good and supportive.
      Was this review helpful? 7
      , jaipur
      Reviewed on Nov 14, 2016
    • Bank of Baroda Recurring Deposit
      "Satisfied.."
      BANK OF BARODA
      0.5 4.0/5 "Great!"
      Two months ago I used the Bank of Baroda to open recurring deposit for the amount of seven thousand and another is for 500. Interest rate is very less as that is 7.5%. It is online recurring deposit so every time I am paying payment through ecs. Date of payment is 5th.
      Was this review helpful? 8
      , kolkata
      Reviewed on Dec 11, 2015
    • Bank of Baroda Recurring Deposit
      "Average"
      BANK OF BARODA
      0.5 4.0/5 "Great!"
      I had the recurring the deposit with the Bank of Baroda. The rate of interest is around 9% for an year of time. Services are good with them. Customer service and the service are quiet good with them. Its easy to track my recurring deposit account through their online portal.
      Was this review helpful? 7
      , bhubaneshwar
      Reviewed on Sep 21, 2015
    • Bank of Baroda Recurring Deposit
      "Excellent !!!!!"
      BANK OF BARODA
      0.5 4.0/5 "Great!"
      From bank of Baroda I have taken a Recurring deposit plan in which the interest rate offered is 8% for the minimum lock in period 1 year. In case we break the lock in period so the interest rate will be reduced. No activation or any processing fee is not covered.
      Was this review helpful? 8
      , nagpur
      Reviewed on Sep 16, 2015
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