BOB RD Interest Rates 2023, Bank of Baroda Recurring Deposit

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

Attractive Interest RatesUpto 5.15% for Senior Citizens Upto 4.65% for Individuals
Flexible Tenor Options Minimum Tenor Maximum Tenor6 Months 120 Months
Minimum AmountRs.50 and in multiples of Rs.50 (rural & semi-urban branch) Rs.100 and in multiples of Rs.100 (urban & metro branch)
Deposit MultiplesAs low as ₹ 50
Ease of BookingOpen RD on click of a button using internet or mobile banking.

BOB RD Interest Rates 2023

TenureRegular RD interest rates (p.a.)Senior citizen RD rates (p.a.)
181 days to 270 days4.65%5.15%
271 days and above and less than 1 year4.65%5.15%
1 year5.30%5.80%
Above 1 year to 400 days5.45%5.95%
Above 400 days and up to 2 Years5.45%5.95%
Above 2 Years and up to 3 Years5.50%6.00%
Above 3 Years and up to 5 Years5.50%6.15%
Above 5 Years and up to 10 Years5.50%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 BarodaHDFC BankICICI BankAxis Bank
Indian BankRBL BankIDBI BankIDFC Bank
Corporation BankAndhra BankPNB BankCanara Bank
Union Bank of BarodaCentral BankBank of IndiaBank of Baroda
Jana BankAU BankEquitas BankUCO Bank
Syndicate BankAllahabad BankKotak Mahindra Bank

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