Bank Of Baroda FD Interest Rates 2022 | FD Interest Rates of Bank Of Baroda

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Bank of Baroda offers FD schemes at an interest rate of 2.80-5.35% per annum to general citizens and 3.30-6.35% to senior citizens, with tenures ranging from 7 days to 10 years. Talking about Bank of Baroda Tax Saving FD, its interest rates are 5.25% per annum for general citizens and 5.75-6.25% per annum for senior citizens. How to open FD in Bank of Baroda? How much interest is available in Bank of Baroda FD (Bank of Baroda FD Rates)? Read this article to get answers to questions like these.

Bank Of Baroda FD Interest Rates, FD Interest Rates of Bank Of Baroda, Bank Of Baroda FD Interest Rates Per Annum, Bank Tax Saving Fixed Deposit, Types of FD Schemes of Bank of Baroda

Table of Contents

Bank Of Baroda FD Interest Rates (Per Annum) – Year 2022

Bank Of Baroda FD Interest Rates Per Annum Year 2022 are as follows:

Maximum Slab Rate5.35% (for 3 years to 10 years)
for 1 year5.00%
for 2 years5.20%
for 3 years5.20%
for 4 years5.35%
for 5 years5.35%
Tax Saving FD5.25%

Bank Of Baroda FD Interest Rates

2 crores Rs. Fixed Deposit Interest Rates on Domestic/NRO Deposits of less than Rs.(Effective March 22, 2022)

Bank Of Baroda FD Interest Rates (% p.a.)

Periodordinary citizenssenior citizen
7 days to 14 days2.83.3
15 days to 45 days2.83.3
46 days to 90 days3.74.2
91 days to 180 days3.74.2
181 days to 270 days4.34.8
271 days and above 1 year4.44.9
1 year55.5
1 year to 400 days5.25.7
400 days to 2 years5.25.7
2 years to 3 years5.25.7
3 years to 5 years5.356.00*
5 years to 10 years5.356.35**

Note : 1. Additional Senior Citizen Rates (50bps) will be applicable only for Indian Resident Senior Citizens
2. Additional Interest Rates: 0.50%+0.15%
** 1% Additional Interest Rates

Bank Tax Saving Fixed Deposit (effective from November 16, 2020)

PeriodInterest rates for common citizensInterest rates for senior citizens
for 5 years5.25%5.75%
5 years to 10 years5.25%6.25%
Note:  Higher interest rates will be given only to senior citizens residing in India

Bank of Baroda NRI FD Rates

2 crores Rs. NRE FD interest rates on deposits of less than Rs (with premature withdrawal facility)

PeriodInterest rates
1 year5.00%
1 year to 400 days5.20%
400 days to 2 years5.20%
2 years to 3 years5.20%
3 years to 5 years5.35%
5 years to 10 years5.35%
Note: Interest rates updated as on March 22, 2022

FCNR(B) interest rates (effective from March 17, 2022)

Interest Rates (% per annum)

PeriodUSDGBPEURAUD
1 year to 2 years1.181.4500.44
2 years to 3 years1.61.8100.92
3 years to 4 years1.831.930.011.28
4 years to 5 years1.941.940.111.55
5 years2.021.910.171.67

Types of FD Schemes of Bank of Baroda

Baroda Tax Saving Term Deposit Account

  • The amount of Tax Saving Fixed Deposit can be used to get tax exemption under Section 80C of the Income Tax Act.
  • There are 3 types of term deposit plans: RIRD (for cumulative deposit plan), MIP (in this interest is paid every month at concessional rates) QIP (in this interest is paid every three months)
  • Duration : 5:10 years
  • Minimum Deposit Amount : 100 (More amount can be deposited in multiples of Rs.100 also)
  • Maximum Deposit Amount : 1.5 Lakh
  • Tax Benefit : Any investment made under this scheme gets tax exemption under section 80C of the Income Tax Act.
  • Interest Rates : Under this scheme, some special benefits are given in interest, which are being mentioned below:
    • 2 crores Rs. An additional interest of 0.50% is given to senior citizens on deposits of less than Rs.
    • Additional interest (interest rates to be determined by the bank) is paid on the deposit to both former and current employees.
    • Any ex-employee who is also a senior citizen is given additional interest under both the categories.
  • Payment of Interest : Interest from MIP and QIP deposits will be paid to the depositor
  • Loan Overdraft Facility : No Loan / Overdraft facility is available on Bank of Baroda Tax Saving Term Deposit Account
  • Pre-mature Withdrawal :  In this plan, withdrawal of money before FD maturity is allowed only after the completion of 5 years. Some of the conditions related to this are as follows:
    • In doing so, 1% less interest will be given than the applicable interest.
    • Any interest already paid will be deducted from the principal amount during pre-mature withdrawal
    • FD can be broken only in case of death of the account holder

Baroda Suvidha Flexible Fixed Deposit Plan

  • Overdraft facility is also available in this fixed deposit along with easy withdrawal.
  • Duration : 1 to 5 years
  • Minimum Deposit Amount : The minimum deposit amount for this account is Rs.5,000. (in 5 units of Rs.1,000) with further deposits to be made in multiples of Rs.1,000
  • Maximum Deposit Amount : There is no maximum deposit amount. However, the deposit limit for an account opened in the name of a child above the age of 10 years is Rs 1 lakh. Is.
  • Interest Rate : In terms of interest rate, the following groups will get some special benefits:
    • 2 crores Rs. An additional interest of 0.50% will be given to senior citizens on deposits of less than Rs.
    • Additional interest (interest rates to be determined by the bank) will be given to both the former and current employees.
    • Any ex-employee who is also a senior citizen will get additional interest benefit under both the categories.
  • Interest Payment : The interest received from the scheme will be given every 6 months.
  • Loan Overdraft Facility : Loan is allowed up to 95% of the FD amount. No loan is available in the name of the child and against FDs opened for Hindu Undivided Families.
  • Premature Withdrawal : To break an FD, the minimum amount in the account should be Rs 1,000 (considered as one unit) and thereafter in multiple units. Some of the conditions related to breaking FD are as follows:
    • Interest will be given at 1% less than the fixed rates on partial withdrawal. Also the interest paid will be calculated on quarterly compounding basis.
    • 1% less interest will be given on breaking FD

Monthly Income Plan (MIP)

  • This FD plan offers overdraft facilities as well as a guaranteed monthly interest payment option.
  • Duration : 1-10 years
  • Minimum Deposit Amount : Minimum deposit amount is Rs. 1,000 after which Rs.100. will be deposited in the coefficients of
  • Maximum Deposit Amount : There is no maximum deposit amount. However, the maximum limit for an FD account opened in the name of a child above 10 years is Rs 1 lakh. Is.
  • Interest Rate : In terms of interest rate, the people mentioned below will get some special benefits:
    • 2 crores Rs. An additional interest of 0.50% will be given to senior citizens on deposits of less than Rs.
    • Additional interest (interest rates to be determined by the bank) will be given to both the former and current employees.
    • Any ex-employee who is also a senior citizen will get additional interest benefit under both the categories.
  • Loan Overdraft Facility : Loan is allowed up to 95% of the FD amount. No loan is available in the name of the child and against FDs opened for Hindu Undivided Families.
  • Security : Deposits made by government departments under MIP are accepted as security.
  • Non Fund Based Activities : Under this scheme, deposits will be accepted in the form of non-fund based activities like Letter of Credit, Bank Guarantee, Credit Report etc.
  • Pre-Mature Withdrawal : Some of the conditions related to Pre-Mature are as follows:-
    • If the amount is kept in the account for 1 year, then before FD maturity, Rs. 5 lakh. No penalty will be levied for withdrawal of amount up to Rs.
    • The rate of interest applicable on premature withdrawal without any penalty shall remain the same from the date of acceptance of the deposit till it remains in the bank or the contracted rate (whichever is lower)
    • 5 lakh from FD of less than 1 year. In case of premature withdrawal of Rs.
    • For premature withdrawal of Rs 1 crore or more, the depositor has to give notice of 31 days in advance. Also, a penalty of 1.5% will be levied on such FD based on the guidelines of the bank.

Quarterly Income Plan  (QIP)

  • This Fixed Deposit plan helps the customers to get a fixed source of income on a quarterly (every three months) basis.
  • Duration : 1-10 years
  • Minimum deposit amount : Minimum deposit amount is Rs.1,000. and further deposit of Rs.100. will be done in coefficients of
  • Maximum Deposit Amount : There is no maximum deposit amount. However, the maximum limit for accounts opened in the name of minors above 10 years is Rs 1 lakh. Is.
  • Interest Rate : In terms of interest rate, the following groups will get some special benefits:
    • 2 crores Rs. An additional interest of 0.50% will be given to senior citizens on deposits of less than Rs.
    • Additional interest (interest rates to be determined by the bank) will be given to both the former and current employees.
    • Any ex-employee who is also a senior citizen will get additional interest benefit under both the categories.
  • Interest Payment : Interest on MIP and QIP deposits will be included in this
  • Loan Overdraft Facility : Loan can be taken up to 95% of the FD amount.
  • Security : Deposits made by government departments under MIP are accepted as security.
  • Non Fund Based Activities : Under this scheme, deposits will be accepted in the form of non-fund based activities like Letter of Credit, Bank Guarantee, Credit Report etc.
  • Premature Closure : Some of the terms and conditions associated with premature closure are as follows:
    • Interest will be given at 1% less than the fixed rates
    • 5 lakhs Rs. No penalty is levied on premature withdrawal of deposits (provided the deposit has been kept in the account for at least 12 months)
    • For premature withdrawal of Rs 1 crore or more, the depositor has to give notice of 31 days in advance. Also, 1.5% interest will be deducted as per the guidelines of the bank on this type of FD.

Motor Accident Claim Annuity Deposit (MACAD)

  • This FD facilitates claims related to motor accidents as decided by courts or tribunals. In this, a linked savings account is opened to credit the monthly annuity payment along with a lump sum deposit in the MACAD account.
  • Duration :   3-10 years. If the deposit period is less than 3 years, then a normal FD account is opened. The term may be more than 10 years as per the direction of the court.
  • Minimum Deposit Amount : The minimum deposit amount is based on Monthly Annuity (Rs.1,000 or more) for the tenor of MACAD.
  • Maximum Deposit Amount : There is no upper limit on the maximum deposit amount.
  • Interest Rate : The interest rate will be as per the FD tenure. Senior citizens will get an additional interest of 0.50% per annum
  • Loan Overdraft Facility : Loan / Overdraft facility is not available.
  • Premature Withdrawal : Some of the terms related to premature withdrawal are as follows:
    • The break-up of the FD or part payment of the lump sum amount is done only with the permission of the court.
    • In case of part payment, the court may also allow the annuity to be reissued for the balance amount and tenure.
    • No penalty will be levied for breaking FD
    • The nominee can seek the break-up of the FD or continuance of annuity payments only in case of death of the claimant.

Capital Gains Account Scheme (CGAS), 1988

  • The scheme has been introduced for deposits arising out of long term capital gains arising out of transfer of capital assets.
  • Types of Accounts : There are two types of CGAS accounts:
    • Account A – This is a savings deposit account (which is opened in certain cases like for customers of Bora Muslim community, a current account called AI instead of a savings account)
    • Account B – This is a Term Deposit Receipt (TDR) / Special Term Deposit Receipt (STDR).
  • Purpose : Under this scheme, any individual, association, firm, Hindu Undivided Family (HUF), company etc. who want to get tax benefits under section 54, 54B, 54D, 54F and 54G of the Income Tax Act, can open an account. Huh.
  • Duration : The tenure of this plan depends on the factors given below:
    • If capital gains are covered under sections 54, 54B and 54F, then the period will be 2 years from the date of transfer of the original asset.
    • If capital gains are covered under sections 54, 54D, 54F, 54G and 54GB, then the period will be 3 years from the date of transfer of the original asset.
  • Minimum deposit amount : Rs.1,000.
  • Maximum Deposit Amount : There is no upper limit on maximum deposit amount
  • Rate of Interest : The rate of interest for this scheme depends on the discretion of the bank. Senior citizens and current/ex-employees will not get any additional interest
  • Loan Overdraft Facility : No Loan / Overdraft facility is available
  • Security : Deposits covered under this scheme are accepted as security by government departments.
  • Non fund based activities : Under this scheme the deposit will be accepted in the form of non fund based activities like letter of credit, bank guarantee, credit report etc.
  • Prepayment : Rs 5 lakh No penalty will be levied on premature withdrawal of deposits (if the amount has been held in the account for 1 year.)
  • Premature Closure : FD can be broken only in case of death of the account holder. Although the terms of the bank will apply in this

Baroda Advantage Fixed Deposit ( Non – callable )

  • This FD scheme does not give the option of premature withdrawal to the customers and hence helps in getting better interest rate as compared to normal FD rates (deposit amount above 15 lakhs).
  • Duration : 1-10 years
  • Minimum deposit amount : Minimum deposit amount is Rs.15 lakh. 1,000 in which Rs. Further deposits will be made in the coefficients of
  • Maximum Deposit Amount : There is no upper limit on the maximum deposit amount. 1 lakh in an account opened in the name of a child above the age of 10 years. Deposits can be made up to Rs.
  • Interest Rate : The interest rate will be determined by the bank. Under which the following groups can get benefits:-
    • 2 crores Rs. An additional interest of 0.50% will be given to senior citizens on deposits of less than Rs.
    • Additional interest (interest rates to be determined by the bank) will be given to both the former and current employees.
    • Any ex-employee who is also a senior citizen will get additional interest benefit under both the categories.
  • Interest Payment : The interest received from this scheme will be paid in the following ways:
    • For Individuals and Non-Individuals (Other than Banks) –
      • Non Callable FD RIRD – Interest is paid on maturity
      • Non Callable FD MIP – Monthly Basis Interest Payable
      • Non Callable FD QIP – Interest is paid on quarterly (in three months) basis
    • For banks-
      • Non Callable FD RIRD – Interest is paid on maturity
      • Non Callable FD MIP – Monthly Basis Interest Payable
      • Non Callable FD QIP – Interest is paid on quarterly (in three months) basis
  • Loan Overdraft Facility  Loan / Overdraft facility is available up to 85% of the FD amount.
  • Security : FDs are accepted as security/guarantee by government departments.
  • Non Fund Based Activities : Under this scheme, deposits will be accepted in the form of non-fund based activities like Letter of Credit, Bank Guarantee, Credit Report etc.

Baroda Advantage Fixed Deposit NRO Non – Callable

  • Under this FD scheme, NRO account holders will be able to take advantage of higher interest rates than the normal interest rates. This deposit is also available in MIP/QIP/RIRD plans.
  • Duration : 1-10 years
  • Minimum Deposit Amount : The minimum deposit amount is 15 lakhs with Rs.1,000. Further deposits will be made in the coefficients of
  • Maximum Deposit Amount : Rs.2 crore.
  • Interest Rate : The interest rate will be decided by the bank
  • Payment of interest : Interest will be paid at the same rate as a normal term deposit (callable)

NRE Rupee Fixed Deposit

  • NRE account holders can open accounts in convertible currency through various banking channels like SWIFT, demand draft, telegraphic transfer, foreign currency and traveler’s cheque.
  • Duration : 1 to 10 years
  • Minimum Deposit Amount : 15 lakhs and further deposits up to Rs.1,000. will be done in coefficients of
  • Maximum Deposit Amount : 2 Crore
  • Rate of Interest : Interest will be paid after every 3 months for cumulative deposits. No interest will be paid on deposits of less than 1 year
  • Interest Payment : Interest will be paid at the same rate as a normal term deposit (callable)
  • Premature Closure : FD can be broken only after 12 months and interest will be given at 1% less than the applicable interest rates on the amount withdrawn.

NRO Rupee Fixed Deposit

  • Under this FD scheme, NRIs can make deposits through the sources of income existing in India.
  • Duration : 15 days to 10 years
  • Tax Rate : 30.90% withholding tax and surcharge is levied on NRO savings and FD accounts where DTAA is not applicable. If the income of the foreign company is more than 1 crore, then a surcharge of 2.5% will be applicable on the TDS/tax amount.
  • Interest Payment : Quarterly (in three months)
  • Loan Overdraft facility : Term loan and overdraft facility is available
  • Premature Closure : FD can be broken only in case of premature renewing of FD at better interest rates without any penalty.

Resident foreign currency account

  • This scheme is for those NRIs who are settling after returning to India. This account can be maintained in Dollars, Pound Sterling, Euro and AUD.
  • Duration : 1-5 years
  • Interest Rates : The interest rates will be similar to that of FCNR deposits for a tenure of 1 to 5 years. No interest will be paid for breaking the FD before 12 months.

Rupee Linked Foreign Currency Deposit Scheme for NRIs 

  • NRI account holders can open an account in convertible currency through various banking channels like SWIFT, Demand Draft, Telegraphic Transfer, Foreign Currency.
  • Tenure : This plan is available for a tenure of 1,2 and 3 years
  • Minimum Deposit Amount : 10,000 USD or equivalent in GBP, AUD and EUR
  • Interest Rates : The interest rates will be same as that of FCNR (B) deposit. No interest will be paid on FDs held in the bank for a period of less than 1 year.
  • Premature Withdrawal: If the FD is broken, the forward contract will also be cancelled. The Customer shall bear the total profit or loss on account of the difference between the Exchange Rate (on the date of payment) and the Forward Exchange Rate (at the time of making the deposit).

Foreign Currency Linked Rupee Deposit ( FCLRD Scheme

  • The benefit of this scheme is available to both NRE deposit and FCNR deposit. This protects against losses due to a fall in the exchange rate, as the maturity amount during the deposit is settled in foreign currency.
  • Duration : 1 year
  • Minimum deposit amount : 10,000 USD or its equivalent in GBP, AUD and EUR
  • Interest Payment : Interest is paid along with the principal amount on maturity. No interest will be paid on deposits kept with the bank for a period of less than 1 year. Forward contracts can be booked on the full maturity amount of the deposit.

Foreign Currency Non Resident Term Deposit Scheme

  • With the help of this term deposit scheme, you can convert the principal amount and interest into foreign currency without any income tax liability.
  • Tenure : Minimum tenure of 1 year, account holders will get cumulative interest every 6 months under the re-investment plan
  • Interest Payment : Interest will be paid every 6 months (March and September)

Bank Of Baroda FD Calculator

You can use the oney Insurance FD calculator to know the maturity amount you will get if you invest in an FD. For this, you need to enter the deposit amount, tenure and applicable FD interest rates in the calculator. Click here to use FD Calculator.

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Important Links

Bank Of Baroda Official WebsiteClick Here
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FAQs Related to Bank Of Baroda FD Interest Rates

Is premature withdrawal facility available in all FD schemes of Bank of Baroda ?

Answer : No, Premature Withdrawal facility is not available in Baroda Tax Advantage (Non-callable) plan.

What is non – callable FD ? 

Answer : In a non-callable fixed deposit scheme, there is no option to break the FD.

What is the highest FD interest rate of Bank of Baroda ? 

Answer : Currently the highest interest rate of Bank of Baroda is 5.75%.

When are FD interest rates changed?

Answer : The change in Bank of Baroda interest rates depends on the fluctuations in the market.

If the FD rates applicable at the time of investment are lower than the current rates , then which of the two interest rates will be applicable on the maturity payment? 

Answer : You will get the maturity amount at the same rate at which the FD was signed.

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