Bank of Baroda FD Interest Rates

About Bank of Baroda 

Bank of Baroda, one of India’s leading public sector banks, was established on 20 July 1908 by Maharaja Sayajirao Gaekwad III of Baroda. It was nationalised in 1969 and has since grown into a global banking institution with a presence in 17 countries.

Known for its legacy of trust and innovation, Bank of Baroda offers a wide range of fixed deposit (FD) schemes tailored to meet diverse customer needs. The bank’s FD options can be suitable for those seeking safe and stable returns on their savings. Customers can invest a lump sum for a chosen tenure and earn attractive interest rates, which are typically higher than regular savings accounts.

Special rates are offered to senior and super senior citizens, further enhancing returns. With flexible tenures and dependable interest payouts, Bank of Baroda FDs offer security, ease of investment, and long-term financial growth, making them a preferred choice for individuals planning to grow their savings with stability.

Bank of Baroda FD Rates (Below ₹3 Crore) 

Note: The data is as of June 12, 2025

Features and Benefits of Bank of Baroda Fixed Deposit

• Senior citizens earn an extra 0.50% p.a. interest over the regular FD rates
• Minimum deposit requirement starts at ₹1,000
• Nomination facility ensures easy transfer of funds to beneficiaries
• Loan or overdraft of up to 90% of the FD amount is offered
• Interest is paid only on maturity of the fixed deposit
• Offers assured and predictable returns throughout the tenure
• Interest earned is exempt up to a certain limit under income tax rules
• Investors can choose from flexible tenures to suit their financial goals
• Easy premature withdrawal or liquidation option, subject to terms

Types of Bank of Baroda FD Schemes

bob Tax Saving Fixed Deposit Account

• The scheme allows individuals and HUFs to claim tax deduction up to ₹1.5 lakh in a financial year under Section 80C of the Income Tax Act.
• Deposits have a minimum lock-in period of 5 years and a maximum tenure of 10 years, with no premature withdrawal allowed except in the event of the depositor’s death.
• Investors can choose between RIRD (interest at maturity), MIP (monthly interest payout), or QIP (quarterly interest payout) depending on their income needs.
• The deposit earns interest at prevailing FD rates, with an additional 0.50% interest for senior citizens. Bank staff and ex-staff are also eligible for higher interest.
• This scheme does not permit loans or overdrafts against the deposit and cannot be used as collateral for credit facilities.
• Deposits can be held individually or jointly, with nomination facilities available. In joint accounts, tax benefits are allowed only for the first account holder.

bob Square Drive Deposit Scheme

• The scheme offers a unique investment period of 444 days, tailored to provide attractive returns over a short-term horizon.
• The general public earn 6.60% p.a., senior citizens 7.10% p.a., and super senior citizens (80+) 7.20% p.a. Non-callable deposits fetch an additional 0.05%, reaching up to 7.80% p.a.
• Investors can choose between callable deposits, which allow early withdrawals with a penalty, or non-callable deposits that offer higher returns but restrict premature exit.
• Available to individuals (singly or jointly), clubs, associations, educational institutions, partnerships, and companies, as per Bank of Baroda norms.
• The deposit can be conveniently opened online via bob World or internet banking, offering ease of access and paperless processing.

Monthly Income Plan (MIP)

• The plan ensures a steady monthly income by paying out interest regularly, ideal for meeting routine expenses, especially for retirees.
• Senior citizens receive an additional 0.50% interest, enhancing monthly earnings and offering more value on their deposits.
• Investors can opt for automatic renewal of the deposit on maturity, making the process hassle-free and continuous.
• Depositors can avail a loan or overdraft of up to a certain percentage of the deposit amount in case of urgent financial needs.
• Submitting Form 15G/15H exempts eligible investors from TDS on interest, offering added post-tax benefits.

Motor Accident Claims Annuity Deposit (MACAD)

• A lump sum compensation amount, as directed by a court or tribunal, is deposited to receive monthly annuity payments comprising both principal and interest until the principal becomes zero at the end of the term.
• Deposits can be made for a period ranging from 36 to 120 months. Shorter durations are treated as standard FDs, while longer tenures follow specific court instructions.
• Only individuals, including minors through guardians, are eligible to open a single-holder account strictly as per court or government directives.
• The annuity amount (principal + interest), after applicable TDS, is credited monthly to a linked MACT Savings Account; no separate FD receipt is issued.
• Closure or partial withdrawal is only allowed with court approval, and any reissue will reflect the revised balance tenure and amount.
• Deposits under this scheme are non-transferable and do not offer any loan or overdraft facility against the deposit amount.

Quarterly Income Plan

• Available to individuals (including minors), joint account holders, clubs, firms, and registered organisations
• Start investing with just ₹1,000 in multiples of ₹100
• There is no upper limit on the amount you can deposit
• Choose any period between 12 months to 120 months
• Earn interest as per the maturity period selected at the time of deposit
• Senior citizens get an additional 0.50% interest rate on deposits
• Avail a loan or overdraft up to 95% of your deposit value
• No penalty for early closure of deposits up to ₹5 lakh held for at least 12 months

bob Liquid Fixed Deposits Scheme

• Cumulative interest is paid only at the time of deposit maturity (RIRD model)
• Open to individuals, minors, HUFs, firms, companies, trusts, societies, etc., but not available for NRIs or banks
• Choose any deposit period between 12 months and 60 months
• If no instructions are given, deposits are renewed for 12 months at the applicable rate
• Borrow against your deposit as per existing bank policies
• Penalty-free if up to ₹5 lakh and held for at least 12 months; otherwise, penalties as per slab
• Deposits of ₹1 crore and above need 31-day notice and attract a 1.5% interest penalty on early withdrawal

bob Regular Income cum Recurring Deposit (RIRD)

• Partial withdrawal of funds is allowed to meet urgent financial needs
• Enjoy the comfort of liquidity while continuing to earn interest
• Customers can assign a nominee as per bank guidelines for added security
• Deposits earn compound interest, helping your savings grow faster over time
• The interest rate increases with the length of the deposit period
• Customers can avail overdraft against the deposit, subject to bank norms

bob Short Term Deposits

• Earn returns on savings even for deposit periods of less than one year
• Overdraft or loan can be availed against the deposit as per bank guidelines
• Deposit is accepted as security by government departments
• Deposit can be used as margin for non-fund-based banking facilities
• Nomination facility is available for added security
• Offers high liquidity along with fixed short-term returns

bob Advantage Fixed Deposits

• Available at all domestic branches across India
• No upper limit on the maximum deposit amount
• Tenure ranges from 12 months to 120 months
• Interest is paid as per Normal Callable Deposit schedule
• Nomination facility is available for account holders
• TDS is applicable on interest earned as per government rules
• Loan or overdraft facility is not available on this deposit
• Premature withdrawal is strictly not allowed under any circumstances

Term-wise Bank of Baroda Fixed Deposit Rates

Short-Term Fixed Deposits

These FDs range between 7 days to less than a year, offering interest rates from 3.50% to 6.50% for regular customers and 4.00% to 7.00% for senior citizens. This type of FD can be suitable for short-term savings and quick liquidity.

Medium-Term Fixed Deposits

These FDs range from 1 year to less than 5 years, with an interest rate of 6.50% for regular customers and 7.10% for senior citizens. This can be a suitable option for planned expenses over the medium term.

Long-Term Fixed Deposits

These FDs range from 5 years to 10 years, offering 6.50% for regular customers and up to 7.00% for senior citizens. This can be suitable for long-term wealth creation with stable and assured returns.

How to Invest in a Bank of Baroda Fixed Deposit?

Internet Banking

• Log in to your Bank of Baroda NetBanking account using your credentials
• Navigate to the ‘Open Fixed Deposit’ option in the menu
• Enter all required details, including nominee and maturity instructions
• Submit the form to confirm and book your FD account instantly

Mobile App – Bank of Baroda App

• Download and log in to the official Bank of Baroda Mobile Banking App
• Tap on the ‘Open Fixed Deposit’ section on the home screen
• Fill in deposit details, nominee information, and select maturity preferences
• Complete the process to have your FD booked through the app

Offline Mode (Branch Visit)

• Visit your nearest Bank of Baroda branch with valid ID and deposit amount
• Request and fill out the Fixed Deposit application form
• Submit the form along with necessary documents to the bank representative
• Upon processing, the bank will issue an FD receipt as confirmation

Eligibility for Opening a Bank of Baroda FD Account

• Individuals, including those with visual impairment
• Minors with a guardian
• Joint account holders (two or more people)
• Sole proprietors and partnership firms
• Illiterate individuals with thumb impression verification
• Hindu Undivided Families (HUFs)
• Charitable, religious, and educational organisations
• Registered trusts
• Societies, clubs, and associations
• Limited liability companies
• Panchayats, municipal bodies, and similar local authorities

Documents Required to Open Bank of Baroda FD Account

Proof of Identity (any one of the following)

• Aadhaar Card
• PAN Card
• Valid Passport
• Voter ID
• Ration Card with photograph
• Driving Licence
• Senior Citizen ID (if applicable)

Proof of Address (any one of the following)

• Aadhaar Card
• Passport
• Driving Licence
• Recent Electricity Bill
• Latest Telephone Bill
• Address certificate issued by the Post Office

Tax on Bank of Baroda Fixed Deposit

The Bank of Baroda Tax Saving Fixed Deposit allows investors to claim tax benefits of up to ₹1.5 lakh per annum under Section 80C of the Income Tax Act. This benefit is available only with the Tax Saving FD scheme and not with other Bank of Baroda fixed deposit options. Interest earned on any Bank of Baroda FD is fully taxable as per the applicable income tax slab of the depositor.

If the total interest income from all FDs in a financial year exceeds ₹40,000 (or ₹50,000 for senior citizens), a TDS of 10% is deducted by the bank. However, in the absence of a valid PAN card, TDS is deducted at 20%.

The Tax Saving FD scheme is offered in three variants – RIRD (cumulative deposits), MIP (monthly interest payout at a discounted rate), and QIP (quarterly interest payout). The tenure ranges from 5 to 10 years. The minimum deposit amount starts at ₹1,000, and additional contributions can be made in multiples of ₹100. The maximum deposit allowed under this scheme is ₹1.5 lakh.

Premature Closure of Bank of Baroda Fixed Deposit

Bank of Baroda permits premature withdrawal on all fixed deposit accounts, except for the tax-saving FD scheme. For fixed deposits up to ₹5 lakh that have been held for a minimum of 12 months, no penalty is charged on early withdrawal.

However, for deposits exceeding ₹5 lakh or those not meeting the one-year condition, a penalty is applicable. In such cases, the bank imposes a 1% deduction on the interest rate, calculated either on the applicable rate or the contracted rate—whichever is lower.