Bank of Baroda RD Interest Rates

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 5.50% to 6.25%per annum for general public. Senior citizens are offered an additional interest of 0.50% on all tenures for deposits below Rs.1 crore. 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.

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

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 5.50% to 6.00% 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 6.00% to 6.25% 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 6.00% 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.