Bank of Baroda (BOB) RD Interest Rates 2023: By investing a fixed sum of money on a monthly basis in Bank of Baroda Recurring Deposit, you can enjoy attractive interest rates. This is an excellent way to build up your savings through regular monthly deposits of a fixed amount over a specific period. BOB RD is particularly beneficial for individuals with lower incomes, as the monthly deposit amount is quite manageable. Bank of Baroda’s Recurring Deposit (RD) offers an ideal avenue to invest small amounts every month, ultimately resulting in a substantial sum upon maturity.
Recurring Deposit provides customers with the opportunity to securely accumulate wealth by making regular monthly deposits of a fixed sum over the chosen tenure. By investing minimal amounts in Recurring Deposit, you can enjoy interest rates comparable to Fixed Deposits. Make the most of these benefits to align with your financial goals.
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- 1 Key Advantages of Bank of Baroda (BOB) Recurring Deposit
- 1.1 Bank of Baroda Recurring Deposit Interest Rates 2023
- 1.2 Terms and Conditions for Bank of Baroda RD Account
- 1.3 Early Closure Terms
- 1.4 Who is eligible? for Bank of Baroda RD
- 1.5 How to Open a Bank of Baroda RD Account
- 1.6 Special Features of Bank of Baroda Recurring Deposit
- 1.7 Documents Needed for BOB RD Account Opening
- 1.8 Bob RD Interest Rates 2023 FAQ
Key Advantages of Bank of Baroda (BOB) Recurring Deposit
FEATURES | BENEFITS |
---|---|
Attractive Interest Rates | Upto 5.15% for Senior Citizens 📈 Upto 4.65% for Individuals 📊 |
Flexible Tenor Options | Minimum Tenor: 6 Months ⏳ Maximum Tenor: 120 Months ⌛ |
Minimum Amount | Rs.50 and in multiples of Rs.50 (rural & semi-urban branch) 💵 Rs.100 and in multiples of Rs.100 (urban & metro branch) 💰 |
Deposit Multiples | As low as ₹ 50 💸 |
Ease of Booking | Open RD on click of a button using internet or mobile banking. 🖱️📱 |
Bank of Baroda Recurring Deposit Interest Rates 2023
Tenure | Regular RD Interest Rates (p.a.) | Senior Citizen RD Rates (p.a.) |
---|---|---|
181 days to 270 days | 4.65% | 5.15% |
271 days and above up to 1 year | 4.65% | 5.15% |
1 year | 5.30% | 5.80% |
Above 1 year to 400 days | 5.45% | 5.95% |
Above 400 days up to 2 years | 5.45% | 5.95% |
Above 2 years up to 3 years | 5.50% | 6.00% |
Above 3 years up to 5 years | 5.50% | 6.15% |
Above 5 years up to 10 years | 5.50% | 6.50% |
Terms and Conditions for Bank of Baroda RD Account
- Loan against deposit
- Earn high interest rates, identical to fixed deposit rates.
- Start with a small investment of Rs. 50 and increase in multiples of Rs. 50 thereafter.
- Choose a minimum tenure of 6 months, with multiples of 3 months thereafter, up to a maximum tenure of 120 months.
- For NRI customers, the minimum tenure of RD is 12 months.
- Enjoy interest rates equivalent to regular Fixed Deposits with a smaller monthly investment.
- BOB has the right to close the RD if the customer misses 5 consecutive instalments.
- The minimum tenor of Recurring Deposit should be 6 months.
- The minimum instalment amount should be ₹ 50.
- Instalment amounts should be in multiples of ₹ 50.
Early Closure Terms
Interest will be paid after deducting a penalty of 1% from the applicable rate or the contracted rate, whichever is lower, in cases where a penalty is applicable.
Who is eligible? for Bank of Baroda RD
- Resident individuals
- Hindu Undivided Families
- Private and Public Limited Companies
- Trusts and Societies
How to Open a Bank of Baroda RD Account
Methods to Open a Bank of Baroda RD Account:
- Existing BOB customers can initiate the Recurring Deposit process through the bank’s Mobile Banking Application and Internet Banking.
- Visit the nearest Bank of Baroda branch to open a Recurring Deposit account.
- Contact BOB, and our Customer Care Executive will schedule a service appointment with our Relationship Manager to guide you through the application process.
Special Features of Bank of Baroda Recurring Deposit
- Enjoy interest rates equivalent to regular Fixed Deposits with a more modest monthly investment.
- Invest as little as Rs. 1000 (and in multiples of Rs. 100 thereafter) or as much as Rs. 14,99,900 per month.
- Choose a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
- Easily submit 15G/H form through Netbanking.
- Set instructions to convert your RD into an FD at maturity.
- Avail the nomination facility while booking the deposit online.
Documents Needed for BOB RD Account Opening
Proof of Identity
- Aadhaar Card
- Passport
- PAN Card
- Voter ID Card
- Driving License
- Government ID Card
- Photo Ration Card
- Senior Citizen ID Card
Address Proof
- Aadhaar Card
- Passport
- Telephone Bill
- Electricity Bill
- Bank Statement with Cheque
- Certificate/ID Card Issued by Post Office
Bob RD Interest Rates 2023 FAQ
For Senior Citizens: Up to 5.15%
For Individuals: Up to 4.65%
Minimum Tenor: 6 Months
Maximum Tenor: 120 Months
Rs. 50 and in multiples of Rs. 50
Rs. 100 and in multiples of Rs. 100
As low as ₹50