Bank of Baroda Fixed Deposit (FD) Interest Rates

About Bank of Baroda

Bank of Baroda is the second largest bank in India, right after State Bank of India. It is a Public Sector Undertaking by the Government of India. The bank is headquartered in Vadodara (earlier known as Baroda) in Gujarat. The bank has 13.1 crore customers across 21 countries. It offers a wide variety of products and services including saving and fixed deposits, loans, insurance and even investment products.

Benefits of Bank of Baroda Fixed Deposit

• 1. Automatic renewal of FD - Bank of Baroda offers the facility of auto renewal of FD in case such instructions have not been specifically given by the depositor. This ensures that depositors don't lose out on interest at the end of the tenure.
• 2. Loan against FD - In case of any financial requirement during the tenure of your FD, you can opt for a loan against your FD. Bank of Baroda offers loans up to 95% of the FD value. The interest rate charged on these loans is between 1.50% to 1.75% over the deposit rate.
• 3. Nomination facility - The FD offers a provision for nomination. This facility is available for individuals and sole propriety concerns. In case of joint account, the nomination should be made by the depositors jointly.
• 4. Minimum deposit of ₹1,000 - You can open an FD with Bank of Baroda with just ₹1,000. The bank offers various short and long-term FDs. Depending on your financial goals, you can open any FD with ₹1,000.