Headquartered in Vadodara, Gujarat, Bank of Baroda is a leading public sector bank in India established in 1908. Currently, the bank commands a total asset of Rs. 3.58 Trillion. In 2018, the government merged Dena Bank and Vijaya Bank with Bank of Baroda.

It offers fixed deposit schemes to consumers, whereby they can invest and grow their wealth with relative safety and security. The organisation offers multiple FD options from which customers can choose, based on their unique needs and requirements.

Benefits of Choosing Bank of Baroda FD

  • The facility to nominate family members or relatives, who become the beneficiary to FD earnings in the event of the death of the investor.
  • No need to furnish additional documentation even when availing an overdraft on the fixed deposit.

Basic Eligibility Criteria for Bank of Baroda FD

Consumers can start FD investments in the bank from as low as Rs. 5000. There is no upper limit for these investments.

The following people or groups are eligible for opening Bank of Baroda fixed deposit accounts –

  • Individuals
  • Partnership firms
  • Minors
  • Visually-challenged individuals
  • Illiterate persons
  • Sole proprietary companies
  • Religious, charitable and educational institutions
  • Hindu Undivided Families
  • Trusts
  • Clubs, societies, associations, etc.
  • Joint account holder comprising of two or more members
  • Panchayats and municipalities
  • Limited companies

Documents Required for Bank of Baroda FD

  • Proof of identity
  • PAN card
  • Driving license
  • Passport
  • Senior Citizen ID
  • Voter ID card
  • Photo ration card
  • Government ID card
  • Proof of Address
  • Telephone bill
  • Passport
  • Bank statement along with a cheque
  • Electricity bill
  • An ID card issued by Post Office

Bank of Baroda FD rates 

(Last Updated 7th Oct 2020)

The fixed deposit rates on offer from Bank of Baroda are competitive in the current Indian market. Those opting for short term deposits, referring to investment tenures between 7 days and 365 days, can earn interest at rates between 4.50% and 5.90% per year respectively. The rates are higher for senior citizens, ranging between 5.00% and 6.40% for the same tenure.

On the other hand, long term deposits in BOB FD can lead to 6.25% per annum interest earnings for investors under 60 years and 6.75% earnings for senior citizens.

Tenure FD Interest Rates for General Citizens FD Interest Rates for Senior Citizens
7 days to 14 days 2.90% 3.40%
15 days to 45 days 2.90% 3.40%
46 days to 90 days 3.90% 4.40%
91 days to 180 days 3.90% 4.40%
181 days to 270 days 4.40% 4.90%
271 days to 364 days 4.40% 4.90%
400 days to 2 years 5.10% 5.60%
1 year 4.90% 5.40%
1 year 1 day to 400 days 5.10% 5.60%
2 years 1 day to 3 years 5.10% 5.60%
3 years 1 day to 5 years 5.30% 5.80%
5 years 1 day to 10 years 5.30% 5.80%

Different Types of Bank of Baroda FD Schemes

Bank of Baroda offers a wide variety of fixed deposit plans, each of which is suitable for target consumers –

We've now got fixed deposits too!

  • Access to fixed deposits

    of various banks

  • Invest without opening

    a new bank account

  • Avail high interest rates

    of up to 6.5%

  • Short Deposit –These are short plans with tenures ranging between 1 day and 365 days. Resident Indians and those belonging to Hindu Undivided Family are eligible for investment in these schemes.
  • Baroda Double Dhamaka Deposit Scheme – An FD that looks to double investments within the tenure, this scheme is apt for senior citizens and the general public.
  • Baroda Advantage FD – The minimum deposit amount here is Rs. 15,01,000. The maturity period for the scheme ranges between 12 months and 120 months, as per the consumer’s preference. Hindu Undivided Family and residential Indians are eligible for this FD.
  • BOB Suvidha FD – Those looking to invest the sum for a reasonable period should choose this option. With a maturity term ranging between one and five years, this scheme is open to all residential Indians belonging to Hindu Undivided Families.
  • Baroda Tax Savings Term Deposit – If the primary focus for the investor is to save taxes on the FD interest earnings, he/she should look into this scheme. For such plans, the maturity period ranges between 5 and 10 years. The minimum deposit allowed is Rs. 100.

Premature Withdrawal Terms and Conditions

Most Bank of Baroda FD plans allow early withdrawal up to a certain portion of the investment. No withdrawal charges are levied if the FD has been in effect for more than 12 months, and the total valuation of investment is below Rs. 5 Lakh.

The only exception to this rule is Baroda Advantage FD, where Bank of Baroda restricts premature withdrawal facility.

Special Forms to Fill

Investors in Bank of Baroda fixed deposits must fill and submit Form 15G and Form 15H to avail TDS exemptions on the interest earned from FDs. Such forms are only necessary if your interest earnings fall within the tax-free slab mentioned by the government.

Loan against Bank of Baroda FD

BOB FD investors can avail loans against their deposits. The maximum loan amount in such cases is up to 95% of the FD valuation. The interest charged is 1.75% over the deposit rate. The rate may differ under certain conditions.


  • What is the highest FD rate for BOB fixed deposits?

Individuals under 60 years can earn 6.30% interest, while senior citizens are liable to receive 6.80% interest on investments.

  • How long does FDs take to mature?

Depending on the FD scheme the investor chooses, maturity periods can range between 7 days and ten years.

  • How much extra interest do senior citizens earn on FDs?

Senior citizens are eligible to earn an additional 0.50% FD interest when investing in BOB fixed deposits.

  • What is the minimum amount that one needs to deposit for opening an FD account?

You must invest at least Rs. 5000 when opening a fixed deposit account in Bank of Baroda.

  • What is the interest rate range for Bank of Baroda FDs?

For normal individuals, the interest rate ranges between 4.50% and 6.30%. However, in case of senior citizens, this rate ranges from 5.00% to 6.80%.

  • Can consumers open a BOB fixed deposit account online?

Yes, customers can complete the FD application process online. A bank representative will then contact the interested investor with further details.

  • How often do FD rates change?

FD rates are liable to fluctuate based on market performance. However, there is no fixed period for such rate changes.

  • If FD rates drop after a customer invests, which rate applies to his/her investment?

The rates at which the customer signed the FD papers will be applicable irrespective of future changes.

  • What is a non-callable FD?

Any FD investment scheme that prevents the investor from withdrawing money before its maturity is called non-callable FDs.

  • Can investors opt for premature withdrawal on all BOB FD schemes?

No. Schemes marked non-callable do not allow you to withdraw FD investments prematurely.