Bank of Baroda is a state-owned bank. In terms of market capitalization, it is the second largest government bank in the country. Bank of Baroda (BoB) has several savings schemes that offer good returns to its customers. A customer can get a fixed and assured return of Rs 17,668 by investing Rs 2,00,000. Yes, we are talking about a special FD scheme of Bank of Baroda here.

7.90 percent interest on 400-day FD

Bank of Baroda’s special 400-day FD scheme is the BoB Utsav Deposit Scheme. This scheme offers the highest interest rate compared to other FDs. Under this scheme, general citizens get 7.30 percent interest, senior citizens get 7.80 percent interest and super senior citizens (80 years of age and above) get 7.90 percent interest.

Interest on Rs 2 Lakh Deposit

For general citizens:

After 400 days, a deposit of Rs 2 lakh will appreciate to Rs 2,16,268, which constitutes Rs 16,268 as interest.

For senior citizens:

After 400 days, a deposit of Rs 2 lakh will appreciate to Rs 2,17,668, which constitutes Rs 17,668 as interest.

For super senior citizens:

After 400 days, a deposit of Rs 2 lakh will appreciate to Rs 2,17,902, which constitutes Rs 17,902 as interest.

How to Open an FD in Bank of Baroda

  1. Visit the nearest Bank of Baroda branch to open an FD, or you may open via online banking or mobile banking if you have an account.
  2. You will need to provide: identity proof, address proof and PAN card.
  3. Select details for the FD: Select a deposit amount (e.g., Rs 2,00,000), select tenure (e.g., 400 days), and select the option if interest will be paid out.
  4. Complete the form: you will fill out an FD form with the necessary details, including nominee details.
  5. Make payment: Pay by cash, cheque, or transfer from your account.
  6. Receive receipt: you will receive an FD receipt that confirms FD is set up, the deposit and details.