Bank Of Baroda FD Scheme : After the Reserve Bank of India (RBI) reduced the repo rate this year by a total of 1.00%, most banks across the country, including leading public and private sector banks, have cut down their Fixed Deposit (FD) interest rates. However, Bank of Baroda (BoB), India’s second-largest public sector bank in terms of market capitalization, is still offering its customers high interest rates on FDs. This makes it a strong option for investors looking for safe and guaranteed returns.
Currently, the bank is offering interest rates ranging between 3.50% and 7.20% depending on the FD tenure. Let’s take a closer look at one of its FD schemes where an investment of ₹2,00,000 can fetch you a guaranteed interest of up to ₹30,228.
Bank of Baroda FD Rates : Up to 7.20% Interest
Bank of Baroda allows customers to open fixed deposits with tenures starting from 7 days up to 10 years. For short-term investors and long-term savers alike, the bank has designed interest slabs that vary according to the tenure chosen.
- For 1 year to 3 years, BoB is offering an interest rate between 6.50% and 7.10%.
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The highest FD interest rate is available on the 444-day FD scheme, where investors can earn between 6.60% and 7.20%.
The bank also provides additional benefits for senior citizens and super senior citizens:
- Senior Citizens (60 years and above): Extra 0.50% interest over the general public rate.
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Super Senior Citizens (80 years and above): Extra 0.60% interest over the general public rate.
This makes Bank of Baroda a lucrative choice for retirees and elderly investors who are seeking safe investment avenues with better-than-average returns.
Example: ₹2,00,000 FD in Bank of Baroda
To help you understand the benefits clearly, let’s break down how much return you can get if you invest ₹2 lakh in Bank of Baroda’s FD scheme for 3 years.
1. Regular Citizens (Below 60 years)
- Investment Amount: ₹2,00,000
- Tenure: 3 years
- Interest Rate: Up to 7.10%
- Maturity Amount: ₹2,42,681
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Total Fixed Interest Earned: ₹42,681
2. Senior Citizens (60 years and above)
- Investment Amount: ₹2,00,000
- Tenure: 3 years
- Interest Rate: Up to 7.60% (includes 0.50% additional benefit)
- Maturity Amount: ₹2,46,287
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Total Fixed Interest Earned: ₹46,287
3. Super Senior Citizens (80 years and above)
- Investment Amount: ₹2,00,000
- Tenure: 3 years
- Interest Rate: Up to 7.70% (includes 0.60% additional benefit)
- Maturity Amount: ₹2,47,015
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Total Fixed Interest Earned: ₹47,015
Thus, compared to younger investors, senior and super senior citizens can enjoy significantly higher returns, making Bank of Baroda’s FD schemes particularly attractive for them.
Why Choose Bank of Baroda Fixed Deposit?
There are several reasons why Bank of Baroda’s FD schemes are a reliable and profitable investment option:
- Guaranteed Returns – Unlike market-linked investments, FDs are risk-free and provide assured returns.
- Attractive Interest Rates – With rates up to 7.20%, BoB stands out among public sector banks.
- Special Benefits for Seniors – Extra interest of 0.50% for senior citizens and 0.60% for super seniors.
- Flexible Tenures – Customers can choose between 7 days and 10 years, depending on their needs.
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Safe Investment – Being a government-owned bank, investments in BoB are considered secure and trustworthy.
Final Thoughts
Despite the RBI’s repo rate cuts and subsequent reduction in FD interest rates across banks, Bank of Baroda continues to offer some of the most attractive FD schemes in the market. With an investment of just ₹2,00,000, you can earn up to ₹47,015 as fixed interest over a period of 3 years, depending on your age category.
For general investors, this is a safe and rewarding option. For senior and super senior citizens, this becomes even more beneficial due to the additional interest perks. If you are looking for a secure investment avenue with guaranteed returns, then Bank of Baroda’s Fixed Deposit schemes are certainly worth considering.