Fixed Deposit Details
Bank Name
Bank of Baroda
Eligibility
An individual in his own name. More than one individual in joint name. Minor of age 10 and above on terms laid down by the bank. Accounts can also be opened in the name of minor with their father/mother, as guardian. Clubs, associations, Educational Institutions, Partnerships and joint stock companies, provided they are registered and bank is satisfied that the account is opened for genuine savings purpose.
Interest Rate
7.35% to 7.50% per annum.
Tenure
1 year to 10 years.
Fixed Deposit Type
Regular
Quarterly Income Plan (QIP)
Tax Benefits
Credit Ratings
[ICRA]AAA, IND AAA
Interest Payment Frequency
Quarterly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Non Cumulative
Features
- The minimum deposit amount is Rs 1000 and in multiples of Rs100.
- No upper limit on the deposit amount.
- Overdraft/Loan against deposit is provided on demand up to 95 % of the outstanding balance in the account as of the date of the loan.
- No penalty for premature payment will be levied in case of premature payment of deposits up to Rs 5 lakh, provided it remained with the bank for a minimum period of 12 months.
Minimum Investment Amount
1000
Features & Benefits
Pros
- Guaranteed returns
- Monthly interest payout.
- Users can avail loans against the outstanding amount.
Cons
- No tax saving option.
Pros & Cons
How to Open?
Application Process :
- Visit your nearest Bank of Baroda branch or use their online banking services.
- Provide the necessary details, including the deposit amount and preferred tenor.
- Complete the required documentation.
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T10:58:48Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
