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Bank of Baroda Recurring Deposit

Bank of Baroda offers four types of recurring deposit schemes- Regular Recurring Deposit, Baroda Samriddhi Quarterly Recurring Deposit, Baroda Samriddhi Half Yearly Recurring Deposit, and Yatha Shakthi Jama Yojana. The tenures of the RDs range from 6 months to 10 years. The interest rates range from 6.50% to 6.70%. Senior Citizens get additional 0.50% interest rate.

  • Recurring Deposit (Basic) - A simple saving option that lets helps you to mobilise your investment needs, starting at as less at Rs.50 per month (rural and semi-urban) at attractive interest rates.
  • Baroda Samriddhi Quarterly Recurring Deposit - Accepts quarterly deposits at attractive interest rates and terms.
  • Baroda Samriddhi Half Yearly Recurring Deposit - Accepts half yearly deposits with pleasing terms and rates.
  • Yatha Shakthi Jama Yojana - Flexibility to invest a varying monthly amount based on certain conditions which result in better yield upon maturity. Choose a “core amount” and build as per availability.

Regular Recurring Deposit

Key Highlights

Minimum Amount Deposit Min: Rs.50 per month- rural and semi-urban branch (for any higher amount, deposit in multiples of Rs.50)
Rs.100 per month- urban and metro branch (for any higher amount, deposit in multiples of Rs.100)
Max: No limit
Tenure Min: 6 months
Max: 10 years
Interest Rate 6.50% to 6.70%
Eligibility All Individuals and Non-Individuals
TDS on RD TDS will be deducted as per income tax rules
Premature Withdrawal Allowed
Loan/Overdraft Up to 95% of outstanding balance
Nomination Facility Available
Late Penalty Rs.1 per Rs.100 per month

Things to Know

  • Bank of Baroda offers attractive interest rates.
  • Interest rates are applied on a quarterly basis and will be paid together with the principal at the end of term.
  • Maturity of the RD is one month after payment of last installment or due date, whichever is later.
  • Advance against facility is not available for minors in single name and HUF.
  • In case of advances taken against deposits, if the depositor does not settle the account within 90 days, bank has the right to settle the overdraft account against his term deposit.
  • You will get a passbook for the RD account.
  • You can convert a regular RD to Baroda Yatha Shakti Jama Yojana Scheme.

Premature Withdrawals Rules

In case of premature withdrawal, the interest will be 1% below the rate applicable for the period the deposit has remained with the bank.

Baroda Samriddhi Quarterly Recurring Deposit

Minimum Amount Deposit Min: Rs.500
Tenure Min: 3 years
Max: 10 years
Eligibility All individuals
TDS on RD Applicable
Premature Withdrawal Allowed
Loan/Overdraft Up to 95% of outstanding balance
Nomination Facility Availability

Things to Know

  • The deposits made will be on a quarterly basis. Helps in mobilising savings for those with limited income.
  • Interest charges are compounded on a quarterly basis and paid on maturity.

Baroda Samriddhi Half Yearly Recurring Deposit

Key Highlights

Minimum Amount Deposit Min: Rs.1,000
Tenure Min: 3 years
Max: 10 years
Eligibility All Individuals
TDS on RD Applicable
Premature Withdrawal Allowed
Loan/Overdraft Up to 95% of outstanding balance
Nomination Facility Availability

Things to Know

  • The deposits made will be on a half yearly basis. Helps in mobilising savings for those with limited income.
  • Compounded interest charges are on a half yearly basis, payable at the end of deposit tenure.

Flexible Recurring Deposit Scheme Yatha Shakti Jama Yojna

Key Highlights

Minimum Amount Deposit Min: Rs.100 per month (for any higher amount, deposit in multiples of Rs.100)
Max: only up to 3 times of the core instalment subject to maximum of Rs.10,000 per month
Tenure Min:1 year
Max: 10 years
Eligibility Individual, joint accounts, minors, partnerships, educational institutions, clubs, associations
TDS on RD Applicable
Premature Withdrawal Allowed
Loan/Overdraft Up to 95% of outstanding balance
Nomination Facility Availability
Late Penalty No penalty on delayed payment installments

Things to Know

  • The monthly installment can be raised up to 3 times of the core amount with a cap of Rs.10,000 per month.
  • Interest rates are compounded on a quarterly basis.
  • Interest will be paid and credited half yearly.
  • Interest will be on daily balance. (Half yearly compounding of interest)
  • You will get a passbook for the RD account.
  • You will get TDS certificate for the RD.
  • Minor Accounts can be opened for individuals above 10 years subject to maximum cap of Rs.1 lakh.

Premature Withdrawals Rules

In case of premature withdrawal, ROI will be 1% below the rate applicable for the period the deposit has remained with the bank.

How to Open an RD Account in Bank of Baroda

You can open a recurring deposit account with Bank of Baroda in three ways:

  • By visiting the branch
  • Through net banking
  • Through mobile banking

If you are an existing Bank of Baroda account holder, use your net banking username and password to log in to your online account and open an e-RD right away. If you are not a Bank of Baroda account holder, you will have to open an account first. After your account is active, you can log in to net banking and open an e-RD. You will need to download the Bank of Baroda mobile app to open an RD via mobile banking.

Bank of Baroda RD Calculator

You can try out online RD calculators to calculate the interest on your RD. There are many websites that offer recurring deposit calculators. The process is simple and hassle-free. All you need to do is enter all the details pertaining to your RD account, including the amount, tenure, and rate of interest.

You can invest money in RD schemes offered by Bank of Baroda and enjoy competitive rates. However, to enjoy better returns, look for other investment vehicles like mutual funds, fixed deposits, stocks, and bonds, among others.

News About Bank of Baroda Recurring Deposit

  • Bank of Baroda Reduces MCLR

    A day before the government announced its demonetisation scheme, Bank of Baroda gave some good news to customers, reducing the MCLR interest by 10 basis points. The new MCLR for one year is 9.25%, effective 7th November, 2016. The bank, which offers a range of products like savings accounts, recurring deposits, term loans, etc. has done well over the last year, with a current market cap of Rs.32,822.75 crore.

    7 November, 2016

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Bank of Baroda RD Reviews

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  • Bank of Baroda Recurring Deposit
    "Good investment for future"
    BANK OF BARODA
    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? 4
    , jaipur
    Reviewed on Dec 20, 2018
  • Bank of Baroda
    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? 10
    , 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? 15
    , 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? 9
    , 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? 9
    , kolkata
    Reviewed on Dec 11, 2015
  • Bank of Baroda Recurring Deposit
    "Double on Double "
    BANK OF BARODA
    0.5 5.0/5 "Blown Away!"
    We had an good scheme for the recurring deposit account. YSJY scheme is an government plan which starts from 1000 rupees where I can deposit some amount to them and at the end i will be getting some good benefits. This was there with BANK OF BARODA only where other banks is not having it. Financially I am getting good benefits from this account.
    Was this review helpful? 12
    , chennai
    Reviewed on Nov 27, 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? 10
    , nagpur
    Reviewed on Sep 16, 2015
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