Bank of Baroda (BOB) RD Interest Rates

Looking for the best recurring deposit? Bank of Baroda, one of India's main public sector banks, provides Recurring Deposit (RD) accounts to its clients as a popular investment option RDs are a sort of term deposit in which individuals can make recurring deposits of a preset amount for a certain period of time and receive interest on them.

Bank of Baroda Recurring Deposit interest rates range from 6.75% to 7.75% per year for elderly people and 6.25% to 7.25% per year for others. Bank of Baroda offers competitive RD interest rates, allowing consumers to build their investments with compounding benefits over time. for periods ranging from one to ten years.

Penalty for late payment for monthly instalments is calculated by delaying payment until the following month's calendar or later which will result in a penalty of Rs.1 + GST for each Rs.100 per month. A fraction of a month will be considered a full month for calculating the penalty.

Bank of Baroda RD Rates

The following are the interest rates given by Bank of Baroda based on the customer's specified tenure.

Tenure Interest rates of General citizens
(% p.a.)
Interest rates of Senior citizens
(% p.a.)
1 year 6.85 7.35
Above 1 year to 400 days 6.85 7.35
Above 400 days and upto 2 Years 6.85 7.35
Above 2 Years and upto 3 Years 7.25 7.75
Above 3 Years and upto 5 Years 6.50 7.15*

Read More

Read Less

Note: The above mentioned interest rates are subjected to change and their deposits mentioned are less than Rs. 2 crore.
Additional senior citizen charges (50 basis points) apply solely to residents of Indian elderly citizens.
*Additional interest rate is 0.50% + 0.15%.
**Additional interest rate is 0.50% + 0.50%.

Do you need an instant loan?

Benefits Of Bank Of Baroda RD

  • Better runs on your investments: An RD account fosters discipline by demanding a predetermined deposit at regular periods, such as monthly, quarterly, or semi-annually, to establish a saving habit. Interest is compounded on both the principal amount and accrued interest from prior periods at regular intervals, generally quarterly. This compounding effect allows the money to increase faster over time, resulting in higher returns on investment than a traditional savings account.
  • High rates of interest: Bank of Baroda provides competitive RD interest rates when compared to standard savings accounts. This leads to more potential returns on your deposited cash. The interest rate you earn is determined by the duration of your deposit and the type of account you have (for example, elderly citizens receive greater rates).
  • Flexible principle amount: RD accounts provide flexibility in principle amount and monthly instalment choices, making them available to a broader variety of income groups and allowing for steady savings without stressing resources.
  • Flexible time period: RD accounts have deposit tenures that vary from 6 months to 10 years. This flexibility enables you to personalise your savings strategy to your individual objectives. Whether you're saving for a short-term necessity like a down payment or a long-term goal like retirement, you may select the tenure that best fits your needs.
  • Loan and overdraft facility: Unexpected expenses might jeopardise your financial strategy. The Bank of Baroda's RD plan provides a loan and overdraft facility against your deposit. This implies you can draw a part of the accumulated funds in your RD account (usually up to 95%) for emergency purposes without jeopardising your deposit. This provides financial stability and liquidity, allowing you to access cash when needed without having to remove your whole investment and forfeit prospective interest profits.

Features of Bank Of Baroda RD Interest Rate

By applying for RD in Bank Of Baroda they are many features benefit for the customers , some of them are:

  • A fundamental monthly savings plan is designed to help clients manage their money properly while providing the possibility for higher returns and stability.
  • Applicants can apply for a loan and get up to 95% of the RD amount. The deposit tenure varies from 6 months to 10 years which is equal to 120 months. Deposits can be made in multiples of Rs 100 to ensure accessibility for everybody.
  • Investors may designate any family member or spouse to receive the ultimate amount.
  • TDS taxes will be applied in compliance with the current income tax legislation at the time of RD account establishment.
  • The Bank of Baroda's extensive branch network enables consumers to easily access facilities. Customers can choose quarterly or semi-annual RD choices, offering extra flexibility within the Bank's schemes.
  • Minor accounts can be formed for persons over the age of 10 years, subject to a maximum restriction of Rs 1 lakh
  • Depositors may move their RD accounts from one branch to another. There won’t be any penalties for delayed payments

How to Open an RD Account at Bank Of Baroda

Opening an RD account at Bank of Baroda is simple, with two easy options available: offline and online. Whether you prefer the conventional way of visiting a branch or the convenience of managing your account from the comfort of your own home, Bank of Baroda provides a smooth experience tailored to your requirements.

Offline Method: Opening an RD account offline can be rather straightforward. All you have to do is go to your bank branch and fill out a form to start a recurring deposit account.

  • Step 1: You must fill out the required information and submit it to the bank along with a check for the payment amount.
  • Step 2: If you are a customer of the bank, you need to enter in your bank account information, along with additional specifics such as expiration guidelines and nomination details.
  • Step 3: While all other RD accounts may be opened using a single application form, you must fill out the Yatha Shakti Jama Yojana application form to create your flexible RD account with BOB.

Online Method: You can open a Bank Of Baroda RD account via net banking. Before creating an RD account, it is necessary to compare the interest rates for various tenures. Many banks also include a recurring deposit interest calculator, which allows you to calculate the eventual maturity amount and interest on the deposit.

Step 1. To open an RD account, log in to net banking. Net banking structures vary between each bank. You must pick the option to start a new recurring deposit account.

Step 2. Once you've made your choice, you must decide on the instalment amount and duration. You will also need to choose which account to link to your RD account, whether it is a current or savings account.

Please note that, “senior citizens” however have the benefit from most of the banks as they get higher interest rates for the respective categories

If you have an account under a single name, it is recommended to set up a nomination for an investment.

The maturity instructions for funds can be chosen depending on urgent demands, such as full maturity, fixed deposit conversion, or principal amount conversion into an FD, with the duration of the FD can also be set.

Not sure of your credit score? Check it out for free now!

Check Your Credit Score for Free

Also get a Free Credit Report

Eligibility for applying RD Scheme

  • An individual or more than one person can apply for a joint name
  • 10 year and above can also opt for this scheme
  • Registered organisations include clubs, associations, educational institutions, partnerships, and joint stock enterprises.
  • This plan may not be accessible for the NRE deposits.


For individuals accounts the required documents are:

  • Passport
  • PAN card
  • Voter ID card
  • Driving licence
  • Government ID card
  • Photo ration card
  • Senior citizen ID card

As address proof you can submit :

  • Passport
  • Electricity bill
  • Telephone bill
  • Bank statement with cheque
  • ID issued by the post office or certificate

Note that a PAN card is mandatory.


Bank of Baroda offered the option of premature withdrawal on their recurring deposits. If the depositor withdraws the deposited money before the specified term, the relevant interest rate will be reduced by 1%, depending on the RD plan chosen. A partial withdrawal option is not accessible

  1. Beneficiaries for Bank of Baroda RDs can be nominated by depositors.
  2. The bank's web platform makes it easy and straightforward to set up and manage recurring deposit investments.
  3. This is one of the biggest factor benefitting customers of BOB for over years now.


The formula for calculating RD interest rates is A = P(1+r/n) ^ nt

'A' is the final amount,
'P' is the principle amount,
'r' is the yearly interest rate,
'n' is the number of times interest has been compounded,
't' is the tenure.

Using the formula mentioned above , if a depositor invests Rs.50,000 in January for a one-year period, he or she will have around Rs. 6,24,281 as the maturity amount at the end of the year if the interest rate is 7.35%.


Bank of Baroda offers numerous Recurring Deposit programs in which one may invest, which is:

  • Baroda Holiday Saving recurring Deposits

The minimum monthly payment for this program is Rs.100, and the minimum/maximum tenure is 12 months. Interest earned in the account is compounded quarterly. If you withdraw prematurely, you will be charged 1% of the applicable rate as a penalty.

  • Yatha Shakti Jama Yojna (Flexible recurring deposit scheme)

Yatha Shakti Jama Yojna (Flexible Recurring Deposit arrangement) - Under this arrangement, the bank pays interest every half-year. The account may be created with a minimum of Rs.100, and the maximum deposit amount is up to three times the basic instalment, subject to a monthly limit of Rs.10,000. The bank's deposit tenure for this program ranges from 12 to 120 months.

  • Regular Income cum recurring Deposit

The minimum deposit for this RD program is Rs. 1000, with a duration ranging from 12 to 120 months. The deposit's interest is compounded quarterly and paid out every half-year. Under this policy, there is no penalty for early withdrawal of deposits of up to Rs. 5 lakhs if they have been with the bank for at least 12 months.


Foreign students can now apply for the recurring deposit scheme . The document needed for applying will be:

  • Please include a copy of your passport and visa, as well as an ID card provided by your college or institution
  • Admission letter for the course, specifying its duration
  • An allotment letter on the college/institution's letterhead for allotment of hostel accommodation, duly signed by the authorised signatory, mentioning detailed address and location of hostel, room number, etc., and date of allotment of hostel accommodation, etc., or a valid address proof in the form of a rent agreement within 30 days of opening the account.

Are you looking for an instant loan?

Frequently Asked Questions

The RD interest rate in Bank of Baroda varies based on the tenure and prevailing market conditions.

Bank of Baroda offers competitive interest rates, with options that may include rates of 7% or higher for RD accounts.

BOB RD works by allowing customers to deposit a fixed amount regularly over a chosen tenure and earn interest on it.

Benefits of RD in Bank of Baroda include guaranteed returns, disciplined savings, and flexible tenure options.

You can open an RD account in Bank of Baroda by visiting any branch with the necessary documents and completing the application process.

Yes, you can close an RD account before maturity in Bank of Baroda, but it may be subject to certain terms and conditions, including penalty charges.

Display of trademarks, trade names, logos, and other subject matters of Intellectual Property displayed on this website belongs to their respective intellectual property owners & is not owned by Bvalue Services Pvt. Ltd. Display of such Intellectual Property and related product information does not imply Bvalue Services Pvt. Ltd company’s partnership with the owner of the Intellectual Property or proprietor of such products.

Please read the Terms & Conditions carefully as deemed & proceed at your own discretion.