bob Suvidha Flexible Fixed Deposit Scheme |Bank of Baroda Fixed Deposit Rates-– Interest Rate, Calculator & Benefits

Fixed Deposit Details

Bank Name

Bank of Baroda

Eligibility

Individuals including minors in single or joint names, Hindu undivided families, sole proprietorship and partnership firms, public/private limited companies, associations, clubs, trusts and registered societies. This Scheme is not open to NRIs.

Interest Rate

6.50% to 7.50% per annum depending upon the tenure.

Tenure

1 year to 5 years.

Fixed Deposit Type

Flexible

Suvidha Flexible Fixed Deposit Scheme

Tax Benefits

Credit Ratings

[ICRA]AAA, IND AAA

Interest Payment Frequency

Monthly, Quarterly, Recurring.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

Both

Features

• The Suvidha Fixed Deposit (FD) product allows depositors to withdraw their money whenever they choose.
• The minimum amount of deposit to be kept initially under this scheme will be Rs 5,000 which will be deemed as 5 units of Rs 1,000 each.
• Users can avail overdraft/loan against deposit of up to 95 % of the outstanding balance in the account as of the date of the loan.

Minimum Investment Amount

5,000

Features & Benefits

Pros

• Flexible interest payout.
• Withdraw options without any penalty.
• Users can avail loans against the outstanding amount.
• High liquidity.

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

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