Bank of Baroda is one of the biggest public sector banks in the country. Right now, it is offering several fixed deposit (FD) schemes to customers. Each scheme has different features. These include the BOB Square Drive Deposit Scheme, Tax Saving Fixed Deposit Account, BOB Liquid Fixed Deposit Scheme, and Monthly Income Plan.

Last month, the bank changed the interest rates on fixed deposits. At present, it is giving returns between 3.50% and 6.50% on regular FDs.

The highest interest is being given on the BOB Square Drive Deposit Scheme. The interest rate is 6.60% for general customers, 7.10% for senior citizens, and 7.20% for super senior citizens (80 years and above). Both individual and joint account holders can get this benefit.

Tax Saver FD Scheme

Bank of Baroda is offering a Tax Saver FD Scheme. This scheme gives the benefit of tax exemption under Section 80C of the Income Tax Act. The lock-in period is a minimum of 5 years and a maximum of 10 years. Senior citizens get 0.50% extra interest. Right now, the interest rate for general customers is 6%.

BOB Liquid Fixed Deposit Scheme

Customers can also choose the BOB Liquid Fixed Deposit Scheme. The minimum investment amount is ₹5000, and you can invest in multiples of ₹1000. The maximum deposit limit is ₹3 crore. Senior citizens get 0.50% extra interest. The duration of the FD is between 12 months and 60 months. This plan gives good returns along with easy access to your money, making it a good option for both short-term and long-term savings.

Monthly Income Plan

The Monthly Income Plan is another FD scheme from the bank. It gives interest every month. The minimum investment is ₹1000, and the maximum limit is less than ₹3 crore. The time period can be between 12 months and 120 months. Senior citizens get 0.50% extra interest in this plan too.

Current Interest Rates on Fixed Deposits

  1. 7 to 14 days – 3.50%
  2. 15 to 45 days – 3.50%
  3. 46 to 90 days – 5.00%
  4. 91 to 180 days – 5.00%
  5. 181 to 210 days – 5.50%
  6. 211 to 270 days – 5.75%
  7. 271 days to less than 1 year – 6.00%
  8. 1 year to 400 days – 6.50%
  9. More than 400 days to less than 2 years – 6.50%
  10. 2 years to 3 years – 6.50%
  11. 3 years to 5 years – 6.40%
  12. 5 years to 10 years – 6.00%
  13. More than 10 years – 5.50%