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Bank of Baroda RD Interest Rates 2022

Bank of Baroda offers you attractive interest rates when it comes to recurring deposit. The bank offers two types of recurring deposit schemes called recurring deposits and flexible recurring deposit. The rate of return offered on various RD tenures range between 4.30% to 5.25%per annum for general public. The tenure for which an RD can be opened with Bank of Baroda is in the range of 181 days (6 months) to 10 years.

Listed below are the interest rates offered by Bank of Baroda, according to the tenure selected by the customer.

BOB RD Interest Rates

Tenure Regular RD interest rates (p.a.) Senior citizen RD rates (p.a.)
181 days to 270 days 4.30% 4.8%
271 days and above and less than 1 year 4.40% 4.9%
1 year 4.90% 5.4%
Above 1 year to 400 days 5.00% 5.5%
Above 400 days and up to 2 Years 5.00% 5.5%
Above 2 Years and up to 3 Years 5.10% 5.6%
Above 3 Years and up to 5 Years 5.25% 5.75%
Above 5 Years and up to 10 Years 5.25% 5.75%

Note: The rate of interest mentioned above is for deposits less than Rs.2 crore.

Important Information About Recurring Deposit Schemes Offered by Bank of Baroda

Minimum amount to be deposited Rs.50 in rural and semi urban areas Rs.100 in urban and metro areas
Tenure 6 months to 120 months
Additional interest rate for senior citizen 0.50% for deposits below Rs.1 crore
What is the maximum interest rate offered by the bank? 5.25%
For which tenure is the highest interest rate offered? 5 Years and up to 10 Years
What is the maximum loan amount that can be availed against the recurring deposit? 95% of outstanding balance
TDS on the RD account Will be deducted as per Income Tax rules (if Form 15G/15H, no TDS will be deducted)
Penalty for delayed payments of instalments No penalty

Eligibility Criteria for Bank of Baroda Recurring Deposit Scheme

  • All individuals and non-individuals.
  • Individual can open the account in his/her own name or in joint name.
  • Minor of 10 years or above.
  • In the name of a minor with their father or mother.
  • Club, association, educational institutions, joint stock companies

Documents Required for Bank of Baroda RD Scheme

  • Photocopy of ID proof
  • Photocopy of address proof
  • Passport-size photograph

Short-Term Bank of Baroda Recurring Deposit Interest Rates

Recurring deposit accounts opened for a short-term helps you earn interest in the range of 4.30% to 4.90% p.a. Short-term RDs are those which are opened for a period that ranges between 181 days to less than a year.

Medium-Term Bank of Baroda RD Interest Rates

If you open an RD account for a medium-term tenure, the rate of interest offered by Bank of Baroda is in the range of 5.00% to 5.25% p.a. The tenures that range from 1 year to 5 years.

Long-term Bank of Baroda RD Interest Rates

An RD account opened for long-term helps to get interest of 5.25% p.a. Any tenure opted above 5 years falls under the category of long-term tenure.

Bank of Baroda Recurring Deposit Schemes

As mentioned earlier, Bank of Baroda offers two types of recurring deposit schemes in which you can invest your money. These are:

  • Yatha Shakti Jama Yojna (Flexible Recurring Deposit Scheme): The bank pays interest on a half-yearly basis under the scheme. The account can be opened with a minimum amount of Rs.100 while the maximum deposit amount can be increased up to 3 times of the core instalment, subject to a maximum of Rs.10,000 per month. The tenure of deposit offered by the bank for this scheme is between 12 months to 120 months. You can avail 95% of the outstanding balance in the RD account as loan or overdraft facility. In case of premature withdrawal, the bank shall levy of penalty of 1%.
  • Recurring deposits: Under this recurring deposit scheme, the minimum monthly contribution is Rs.50 in rural and semi-urban branch and Rs.100 in urban and metro branch. The minimum and maximum tenure is 6 months and 120 months respectively. Interest earned in the account is paid on a quarterly compounding interval. In case of premature withdrawal, a penalty of 1% from the applicable rate is deducted.

BOB RD Interest Rates Frequently Asked Questions (FAQs)

  1. Is nomination facility available on recurring deposit accounts offered by Bank of Baroda?

    Yes, nomination facility is available.

  2. What is the maturity of deposit?

    The maturity of deposit is one month after payment of last installment or due date, whichever is later.

  3. Will TDS be deducted if I submit form 15G/15H?

    No, TDS will be deducted if you submit form 15G/15H as applicable.

  4. Can I regular RD be converted to Baroda Yatha Shakti Jama Yojana Scheme?

    Yes, a regular RD account can be converted to flexible recurring deposit scheme i.e., Baroda Yatha Shakti Jama Yojana Scheme.

  5. Is the flexible recurring deposit scheme available for NRE deposits?

    As of now, the product is not available for NRE deposits.

Bank of Baroda RD Schemes

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BOB RD Rates Reviews

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  • Bank of Baroda
    "Good investment for future"
    0.5 5.0/5 "Blown Away!"
    Percentage of interest in Bank of Baroda around 7% for one year, generally I deposit the amount around Rs.4000, I opened for one year. They have good online options, I can track the RD details. They take some charge for the premature of recurring deposit.
    Was this review helpful? 8
    , jaipur
    Reviewed on Dec 20, 2018
  • Bank of Baroda
    Bank of Baroda
    "Good Bank"
    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? 12
    , hyderabad
    Reviewed on May 09, 2017
  • Bank of Baroda
    "Nice Bank"
    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? 17
    , bangalore
    Reviewed on May 09, 2017
  • Bank of Baroda
    "Easy EMI for Start saving for future"
    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? 10
    , jaipur
    Reviewed on Nov 14, 2016
  • 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? 11
    , kolkata
    Reviewed on Dec 11, 2015
  • 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? 8
    , bhubaneshwar
    Reviewed on Sep 21, 2015
  • Bank of Baroda
    "Excellent !!!!!"
    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? 11
    , nagpur
    Reviewed on Sep 16, 2015
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