Complete Guide: Bank of Baroda RD Rates2026
Bank of Baroda (BoB) Recurring Deposit (RD) offers several advantages for individuals looking to save regularly with assured returns. It provides competitive interest rates that are generally higher than standard savings accounts, helping your money grow steadily over the chosen tenure. BoB RDs come with flexible tenure options, usually from 6 months up to 10 years, allowing you to select a period that matches your financial goals.
Table of Contents
- BOB Recurring Deposit Interest Rates
- Important Information About Recurring Deposit Schemes Offered by Bank of Baroda
- Eligibility Criteria for Bank of Baroda RD Scheme
- Documents Required for BOB Recurring Deposit Scheme
- Short-Term Bank of Baroda RD Interest Rates
- Medium-Term Bank of Baroda RD Interest Rates
- Long-term Bank of Baroda RD Interest Rates
Bank of Baroda offers you attractive interest rates when it comes to a recurring deposit. The bank offers two types of recurring deposit schemes called the recurring deposit and flexible recurring deposit.
The rate of return offered on various RD tenures range between 4.65% to 5.50% per annum for the general public. The tenure for which an RD can be opened with the Bank of Baroda is in the range of 181 days (6 months) to 10 years.
BOB Recurring Deposit Interest Rates
Listed below are the interest rates offered by Bank of Baroda, according to the tenure selected by the customer.
Tenure | Regular RD interest rates (p.a.) | Senior citizen RD rates (p.a.) |
181 days to 270 days | 4.65% | 5.15% |
271 days and above and less than 1 year | 4.65% | 5.15% |
1 year | 5.30% | 5.80% |
Above 1 year to 400 days | 5.45% | 5.95% |
Above 400 days and up to 2 Years | 5.45% | 5.95% |
Above 2 Years and up to 3 Years | 5.50% | 6.00% |
Above 3 Years and up to 5 Years | 5.50% | 6.15% |
Above 5 Years and up to 10 Years | 5.50% | 6.50% |
Note: The above-mentioned interest rates are effective from 28 July 2022 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 RD 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 BOB Recurring Deposit Scheme
- Photocopy of ID proof
- Photocopy of address proof
- Passport-size photograph
Short-Term Bank of Baroda RD Interest Rates
Recurring deposit accounts opened for a short-term help you earn interest of 4.65% 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 5.30% to 5.50% p.a. The tenures 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 an interest of 5.50% 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 a loan or overdraft facility. In case of premature withdrawal, the bank shall levy a penalty of 1%.
- Recurring deposits - Under this recurring deposit scheme, the minimum monthly contribution is Rs.50 in rural and semi-urban branches and Rs.100 in the urban and metro branches. 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.
FAQs on BOB RD Interest Rates
- What is the maturity of deposit?
The maturity of deposit is one month after payment of last installment or due date, whichever is later.
- Is nomination facility available on recurring deposit accounts offered by Bank of Baroda?
Yes, nomination facility is available.
- Will TDS be deducted if I submit form 15G/15H?
No, TDS will be deducted if you submit form 15G/15H as applicable.
- 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.
- Is the flexible recurring deposit scheme available for NRE deposits?
As of now, the product is not available for NRE deposits.
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