BOB RD Interest Rates 2023: Invest fixed sum of amount on monthly basis in Bank of Baroda Recurring Deposit and get attractive interest rates. Build up your savings through regular monthly deposits of a fixed sum over a period of time with BOB RD. This is a great option for those who have fewer earnings as the monthly deposit amount is very less in BOB Account. Bank of Baroda Recurring Deposit (RD) is an ideal way to invest small amounts of money every month and end up with a large kitty on maturity.
Recurring Deposit allows customers with an opportunity to build up their wealth securely through regular monthly deposit of fixed sum over a period of time. Invest very small amounts in Recurring Deposit and get Fixed Deposit interest rates! Maximise its benefits to suit your needs.
Key Benefits of BOB Recurring Deposit
Applicable from 28 July 2022
| FEATURES | BENEFITS |
| Attractive Interest Rates | Upto 5.15% for Senior Citizens Upto 4.65% for Individuals |
| Flexible Tenor Options Minimum Tenor Maximum Tenor | 6 Months 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. |
BOB RD 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 and less than 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 and up to 2 Years | 5.45% | 5.95% |
| Above 2 Years and up to 3 Years | 5.50% | 6.00% |
| Above 3 Years and up to 5 Years | 5.50% | 6.15% |
| Above 5 Years and up to 10 Years | 5.50% | 6.50% |
Terms and Conditions on Bank of Baroda RD Account:
- Loan against deposit
- High rates of interest (identical to the fixed deposit rates)
- An investment as small as Rs. 50 (and in multiples of Rs. 50 there after)
- A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 120 Months.
For NRI customers, the minimum tenure of RD is 12 months.
- For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
- BOB reserves the right to close the recurring deposit in case the customer misses 5 consecutive recurring deposit instalments.
- The minimum tenor of Recurring Deposit should be 6 months.
- The minimum instalment amount should be ₹ 50.
- The instalment amount should be in multiples of ₹ 50.
Must Read – BOB Fix Deposit
Premature Closure
Interest should be paid after deducting penalty of 1% from such applicable rate or the contracted rate whichever is lower in the cases which are subject to charging penalty
Who is eligible? for Bank of Baroda RD
- Resident individuals
- Hindu Undivided Families
- Private & Public Limited Companies
- Trust & Societies
How to Apply for Bank of Baroda RD Account
- BOB Existing customers can open Recurring Deposit through his bank Mobile Banking Application and BOB Internet Banking.
- Visit the nearest BOB branch and open Recurring Deposit
- You can also contact BOB and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.
Recurring Deposit: Special Features
- For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
- An investment as small as Rs. 1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 14,99,900 per month
- A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.
- Ease to submit 15G/H form through Netbanking
- Set instructions to convert your RD into an FD at maturity
- Availing nomination facility while booking deposit online
Documents Required to Open BOB RD Account
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
List of Other Banks Offering RD
| State Bank of Baroda | HDFC Bank | ICICI Bank | Axis Bank |
| Indian Bank | RBL Bank | IDBI Bank | IDFC Bank |
| Corporation Bank | Andhra Bank | PNB Bank | Canara Bank |
| Union Bank of Baroda | Central Bank | Bank of India | Bank of Baroda |
| Jana Bank | AU Bank | Equitas Bank | UCO Bank |
| Syndicate Bank | Allahabad Bank | Kotak Mahindra Bank |