Bank of Baroda is a government bank, and in terms of market cap, it is the second-largest government bank in the country. Bank of Baroda (BoB) offers several savings schemes to provide better returns to its customers, where you can earn great returns by investing. Here, we will tell you about one such scheme where you can get a fixed and guaranteed return of ₹17,668 by investing ₹2,00,000. Yes, we are talking about a special FD scheme from the Bank of Baroda.
Up to 7.90% Interest on 400-day FD
Bank of Baroda’s special 400-day FD scheme, BoB Utsav Deposit Scheme, offers the highest interest rates compared to other FD schemes of the bank. General citizens earn 7.30% interest, senior citizens get 7.80% interest, and super senior citizens (aged 80 years or above) receive 7.90% interest under this scheme.
Fixed Interest Rates for ₹2 Lakh Deposit
For General Citizens:
A ₹2 lakh deposit will grow to ₹2,16,268 at maturity, including ₹16,268 as fixed interest.
For Senior Citizens:
A ₹2 lakh deposit will grow to ₹2,17,668 at maturity, including ₹17,668 as fixed interest.
For Super Senior Citizens:
A ₹2 lakh deposit will grow to ₹2,17,902 at maturity, including ₹17,902 as fixed interest.
Guaranteed Returns on Maturity
Bank of Baroda ensures fixed and guaranteed returns for all FD accounts, providing a secure investment option for customers.
How to Open an FD in Bank of Baroda:
- Visit a Branch or Online: Go to your nearest Bank of Baroda branch or use their online banking/mobile app if you have an existing account.
- Documents Required: Submit your identity proof, address proof, and PAN card.
- Choose FD Details: Select the deposit amount (e.g., ₹2,00,000), tenure (e.g., 400 days), and interest payout option.
- Complete Form: Fill out the FD application form and provide the necessary details, including nominee information.
- Make Payment: Pay via cash, cheque, or transfer funds from your account.
- Get Receipt: Receive an FD receipt confirming your deposit and details.