Bank Of Baroda Recurring Deposit Interest Rate | BOB RD 2020- Details, Features, Interest

Bank Of Baroda Recurring Deposit Interest Rate

A recurring deposit is a type of term deposit. This scheme is provided by the banks to help the individuals to save their funds. Individual requires to open their RD account and have to deposit a certain amount of money every month in it. In other words, it is just like a fixed deposit, but in this individual require to deposit money in monthly installments instead of a one-time deposit. Recurring deposit schemes help the individuals to save their savings by deposing a fixed amount of monthly deposits until the agreed period of time. Today we are telling you complete details about the Bank of Baroda Recurring Deposit Interest Rate.

Bank Of Baroda FD Interest Rate

The BOB offers a recurring deposit (RD) scheme to its customer for the period of 01 Year to 10 Years. The interest rate of RD varies between the 5.50% to 6.25%per annul for the general public. And senior citizens will get an additional interest of 0.50% per annul on regular interest. The list of Bank of Baroda Recurring Deposit Interest Rate along with important details, features, interest have been provided below.

Important Details/Features of Recurring Deposit (RD)

  • Minimum amount to be deposited- Rs. 100/-
  • Period of Recurring Deposit (RD)- 01 Year to 10 Years
  • For senior citizen- Additional 0.50 on regular interest
  • The maximum interest rate offered by BOB- 6.25% for General Public 6.75% for Senior Citizens
  • loan against the Recurring Deposit (RD)- 95% of the outstanding balance
  • Penalty for late installments- No penalty

Bank Of Baroda Recurring Deposit- Eligibility Criteria

  • Anyone can take this scheme that is All individuals and non-individuals
  • An account holder can open the RD account individually or jointly.
  • Individuals who have an age of 10 years or above are eligible for the RD.
  • Educational institutions, clubs,joint-stock corporations, association, are also eligible.

NEFT Transfer Time

Documents Required For BOB RD Account

Proof of identityAddress Proof
Valid PassportValid Passport
PAN cardTelephone bill
Voter Identity cardElectricity bill
Driving LicenseBank statement with cheque
Government Identity cardCertificate /Identitycard issued by the post office.
Photo ration card
Senior citizen Identity card

Bank Of Baroda Recurring Deposit Interest Rate

Investment periodRD rates for regular depositRD rates for Senior Citizens
180 days6.50%6.50%
181 days to 270 days6.75%6.75%
271 days to 364 days7.00%7.00%
1 year7.00%7.00%
1 year 1 day to 2 years7.00%7.00%
2 years 1 day to 3 years6.85%6.85%
3 years 1 day to 5 years6.50%6.50%
5 years 1 day to 10 years6.50%6.50%

Current Account in Hindi

Different Recurring Deposit Schemes of BOB

Baroda Samriddhi Quarterly Recurring Deposit

Deposit Interval- Quarterly (every 03 months)

Deposit Amount- Minimum Rs. 500 per quarter and there are no restrictions on maximum deposit limit.

Tenure- Minimum 03 Years and maximum 10 years

Loan/Overdraft – Up to 95% of RD

Baroda Samriddhi Half Yearly Recurring Deposit

Deposit Interval-Half Yearly (every 6 months)

Deposit Amount- Minimum Rs. 1,000 per every six months, and there are no restrictions on the maximum deposit limit.

Tenure- Minimum 03 Years and maximum of 10 years

Loan/Overdraft – Up to 95% of RD

BOB Flexible Recurring Deposit Scheme -Yatha Shakti Jama Yojna

Deposit Interval-Monthly

Deposit Amount- Minimum Rs. 100 per month and individuals have to pay a maximum Rs. 10,000 per month

Tenure- Minimum 03 Years and maximum 10 years

Loan/Overdraft – Up to 95% of RD

RD Scheme in Hindi

Munendra Singh

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