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Bank of Baroda (BoB), one of India’s leading public-sector banks in India, offers a wide Range of Fixed Deposit (FD) products. FD is also one of the most popular financial savings schemes in India, wherein many customers invest the surplus amount to earn profits over time. In this scheme, the returns are free from Volatility, therefore they are considered to be a low-risk form of saving. But, if we compare it to the stock Market, then the returns are proportionately low, but are risker and prone to fluctuations.
One looking to open an FD account with BOB, here is the list of Fixed Deposit Interest Rates with their tenures. Furthermore, those applying for BOB FDs can via online or by visiting the nearest Bank of Baroda branch.
Following are the BOB FD rates for Domestic & NRO Term Deposits, applicable for deposits below INR 2 crore, per annum -
w.e.f. 15.02.2023
Tenure | General Public | Resident Indian Sr. Citizen |
---|---|---|
7 days to 14 days | 3 | 3.50* |
15 days to 45 days | 3 | 3.50* |
46 days to 90 days | 4.5 | 5.00* |
91 days to 180 days | 4.5 | 5.00* |
181 days to 270 days | 5.25 | 5.75* |
271 days & above and less than 1 year | 5.5 | 6.00* |
1 year | 6.75 | 7.25* |
Above 1 year to 400 days | 6.75 | 7.25* |
Above 400 days and upto 2 Years | 6.75 | 7.25* |
Above 2 Years and upto 3 Years | 6.75 | 7.25* |
Above 3 Years and upto 5 Years | 6.25 | 6.90# |
Above 5 Years and upto 10 Years | 6.25 | 7.25*** |
Above 10 years (MACT/MACAD Court Order schemes only) | 6.25 | 6.75* |
444 Days (Baroda Tiranga Deposit Scheme)*** | 6.75 | 7.25* |
555 Days (Baroda Tiranga Deposit Scheme)*** | 6.75 | 7.25* |
399 Days (Baroda Tiranga Plus Deposit Scheme) | 7.05 | 7.55* |
Figures mentioned in the above table are subject to change. (incl. additional ROI 0.50%, ** incl. additional ROI of 0.50%+0.50%, # incl. additional ROI of 0.50%+0.15%). Figures mentioned in the above table are subject to change.
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In the current challenging situation brought by COVID-19, BOB bank has agreed to continue to pay additional rate to Resident Senior Citizen for less than Rs. 2 Crores as under:
- 0.50% for all tenors up to 5 years
- 1.00% for "Above 5 years to up to 10 years" tenor and valid till 30.06.2021
The bank has agreed to pay additional rate of 100bps in "Above 5 years to upto 10years" tenor to Resident Indian Senior Citizen and this is valid till 30.09.20.
Following are the BOB FD rates for Domestic & NRO Term Deposits, applicable for deposits between INR 10 crore to INR 1000 Crore, per annum, (Fresh & Renewal) (Callable) (ROI in %)
w.e.f.06.03.2023
Maturity Range | Above Rs 10 cr. to upto Rs 25 cr. | Above Rs 25 cr. to upto Rs 50 cr. | Above Rs 50 cr. to upto Rs 100 cr. | Above Rs 100 cr. to upto Rs 500 cr. | Above Rs 500 cr. to upto Rs 1000 cr. | Above Rs 1000 cr. |
---|---|---|---|---|---|---|
7 days to 14 days | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 |
15 days to 45 days | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
46 days to 90 days | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
91 days to 180 days | 6.85 | 6.85 | 6.85 | 6.85 | 6.85 | 6.85 |
181 days to 270 days | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
271 days & above and less than 1 year | 7.25 | 7.25 | 7.25 | 7.25 | 7.25 | 7.25 |
1 year | 7.70 | 7.70 | 7.70 | 7.70 | 7.70 | 7.70 |
Above 1 Year and upto 2 Years | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
Above 2 Years and upto 3 Years | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
Above 3 Years and upto 5 Years | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 |
Above 5 Years and upto 10 Years | ** | ** | ** | ** | ** | ** |
Figures mentioned in the above table are subject to change.
Following are the interest rates for BOB tax saving, applicable for deposits less than INR 2 Crore per annum
w.e.f. 13.19.22
Tenure | For General Public RTD ROI (%) | Senior Citizen RTD ROI (%)* |
---|---|---|
For 5 years | 6.25 | 6.90# |
Above 5 years to up to 10 years | 6.25 | 7.25** |
(# incl. additional ROI of 0.50+0.15, * incl. additional ROI of 0.50%+0.30%, ** incl. additional ROI of 0.50%+0.50%)
Investors who are thinking of parking their money for the short term, you can also consider liquid Mutual Funds. Liquid Funds are an ideal alternative to FDs as they invest in low-risk debt and money market securities.
Here are some features of liquid funds you should know:
Based on certain parameters, we can figure out the difference between liquid funds and savings account. Let’s figure out those parameters.
Factors | Liquid Funds | Savings Account |
---|---|---|
Rate of Return | 7-8% | 4% |
Tax Implications | Short-term Capital gains tax is levied based on investors' applicable income tax slab Tax Rate | Interest rate earned are taxable as per investors' applicable Income tax slab |
Ease of Operation | No need to go to a bank to get cash. If there is same amount that needs to be paid, it can be done online | Money gets deposited to the bank account first |
Suitable for | Who want to invest their surplus to earn higher return than saving account | Who want to just park their surplus amount |
Fund NAV Net Assets (Cr) 1 MO (%) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) PGIM India Insta Cash Fund Growth ₹298.622
↑ 0.06 ₹555 0.6 1.7 3.5 6.7 4.5 5.2 4.8 Principal Cash Management Fund Growth ₹2,024.48
↑ 0.38 ₹4,528 0.6 1.7 3.4 6.7 4.5 3.1 4.8 JM Liquid Fund Growth ₹62.6607
↑ 0.01 ₹1,570 0.6 1.7 3.4 6.6 4.5 5.2 4.8 Indiabulls Liquid Fund Growth ₹2,216.93
↑ 0.41 ₹150 0.5 1.6 3.2 6.4 4.3 5 4.6 Axis Liquid Fund Growth ₹2,551.37
↑ 0.48 ₹27,002 0.6 1.7 3.5 6.7 4.6 5.3 4.9 Aditya Birla Sun Life Liquid Fund Growth ₹369.501
↑ 0.07 ₹46,406 0.5 1.7 3.5 6.7 4.6 5.3 4.8 Baroda Pioneer Liquid Fund Growth ₹2,639.62
↑ 0.50 ₹8,660 0.6 1.7 3.5 6.7 4.6 5.2 4.9 Invesco India Liquid Fund Growth ₹3,150.92
↑ 0.58 ₹7,567 0.5 1.7 3.4 6.6 4.5 5.2 4.8 ICICI Prudential Liquid Fund Growth ₹339.514
↑ 0.07 ₹47,753 0.5 1.7 3.5 6.6 4.5 5.2 4.8 Nippon India Liquid Fund Growth ₹5,598.92
↑ 1.04 ₹32,768 0.5 1.7 3.4 6.6 4.5 5.2 4.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 22 Aug 23