Bank Of Baroda Bank FD Calculator
Bank of Baroda Domestic Fixed Deposit Rates (Below Rs.2 crore) - General Public
| Tenure | Interest rate p.a. (General citizens) |
| 7 days – 14 days | 3 |
| 15 days – 45 days | 3 |
| 46 days – 90 days | 4 |
| 91 days – 180 days | 4 |
| 181 days – 270 days | 4.65 |
| 271 days – Less than 1 year | 4.65 |
| 1 year | 5.5 |
| Above 1 year – 400 days | 5.5 |
| Above 400 days – Up to 2 years | 5.5 |
| Above 2 years – Up to 3 years | 5.55 |
| Above 3 years – Up to 5 years | 5.65 |
| Above 5 years – Up to 10 years | 5.65 |
Note: The interest rates mentioned in the table are as of 13 September 2022.
Bank of Baroda Domestic Fixed Deposit Rates (Below Rs.2 crore) - Senior Citizens
| Tenure | Interest rate p.a. (Senior citizens) |
| 7 days – 14 days | 3.5 |
| 15 days – 45 days | 3.5 |
| 46 days – 90 days | 4.5 |
| 91 days – 180 days | 4.5 |
| 181 days – 270 days | 5.15 |
| 271 days – Less than 1 year | 5.15 |
| 1 year | 6 |
| Above 1 year – 400 days | 6 |
| Above 400 days – Up to 2 years | 6 |
| Above 2 years – Up to 3 years | 6.05 |
| Above 3 years – Up to 5 years | 6.30* |
| Above 5 years – Up to 10 years | 6.65** |
Note: The interest rates mentioned in the table are as of 13 September 2022.
Bank of Baroda Tax Savings Term Deposit Rates - General Public
| Tenure | Interest rate p.a. (General citizens) |
| 5 years | 5.65% |
| Above 5 years – Up to 10 years | 5.65% |
Note: The interest rates mentioned in the table are as of 13 September 2022.
Bank of Baroda Tax Savings Term Deposit Rates - Senior Citizens
| Tenure | Interest rate p.a. (Senior citizens) |
| 5 years | 6.30% |
| Above 5 years – Up to 10 years | 6.65% |
Note: The interest rates mentioned in the table are as of 13 September 2022.
Bank of Baroda NRI FD Rates
Bank of Baroda NRE FD Rates - Below Rs.2 crore (Callable)
| Tenure | Rate of Interest (p.a.) |
| 1 year | 5.50% |
| Above 1 year – 400 days | 5.50% |
| Above 400 days – Up to 2 years | 5.50% |
| Above 2 years – Up to 3 years | 5.55% |
| Above 3 years – Up to 5 years | 5.65% |
| Above 5 years – Up to 10 years | 5.65% |
Note: The interest rates mentioned in the table are as of 13 September 2022.
Bank of Baroda FCNR FD Rates
| Tenure | USD | GBP | EUR | AUD |
| 1 year – Less than 2 years | 3.25 | 2.1 | 0.01 | 0.7 |
| 2 years – Less than 3 years | 2.8 | 2.15 | 0.01 | 1.2 |
| 3 years – Less than 4 years | 2.7 | 2.25 | 0.01 | 1.55 |
| 4 years – Less than 5 years | 2.4 | 2.25 | 0.1 | 1.8 |
| 5 years | 2.5 | 2.25 | 0.15 | 1.95 |
Note: The interest rates mentioned in the table are as of 27 August 2022 to 15 September 2022
Baroda Tiranga Deposit Scheme - General Public
| Tenure | General/NRE/NRO |
| 444 days | 5.75 |
| 555 days | 6 |
Note: The interest rates mentioned in the table are as of 16 August 2022.
| Tenure | Senior Citizen* |
| 444 days | 6.25 |
| 555 days | 6.5 |
Note: The interest rates mentioned in the table are as of 16 August 2022.
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Fixed deposits are one of the safest investment vehicles if you are looking for risk-free returns. Also, if you invest in a tax-saving fixed deposit, you can avail of a tax benefit of up to ₹1.5 lakh u/s 80C of the Income Tax Act.
Bank of Baroda offers fixed deposits at attractive interest rates. However, these rates keep changing as per your tenure. It is always helpful to calculate the interest and maturity amount of an FD for smooth financial planning. Using online fixed deposit calculators can come in handy. Let’s learn more about the Bank of Baroda fixed deposit calculator.
Bank of Baroda Fixed Deposit (FD) Calculator
Bank of Baroda fixed deposit interest rates fall between 3% and 7.05% for general citizens. For senior citizens, an additional interest rate of 0.5% is applicable. Hence, the applicable interest rate for senior citizens ranges between 3.50% and 7.55%. This is applicable for investment below ₹2 crore.
Considering the manual calculations involved, you might find it beneficial to calculate the fixed deposit maturity amount using an online tool. These online tools are easy to use and you can alter the variables conveniently for suitable results.
How Does the Bank of Baroda FD Calculator Work?
You can use the Bank of Baroda fixed deposit calculator in the following process:
1. Enter your preferred investment amount on the “Total Investment” box
2. Drag the cursor to draw a purple line until you reach the desired tenure, or enter the tenure in the number of years in the box given
3. Now, provide the interest rate and check the right side of the page
4. It will display the “Estimated Return”, and “Total Value” received upon your FD investment maturity
You can adjust the figures in deposit amount, interest rate and tenure to compare among returns offered by various FD schemes.
Fixed deposits can be of two types: compound interest FD or simple interest FD.
In the case of compound interest, the formula is:
A = P (1 + r/n) ^ n*t
In this formula, “A” signifies the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” implies the annual Bank of Baroda fixed deposit rate of interest
“n” stands for the number of times the interest is compounded
“t” denotes the investment term or tenure
You need to enter the correct investment amount, tenure and interest rate to obtain accurate results while using a Bank of Baroda FD calculator.
Let’s understand the calculation procedure precisely with the help of this illustration:
Let’s assume you deposit an amount of ₹10,000 for 5 years at an annual interest rate of 7%.
As per the formula:
A = 10,000 (1 + 7%/1) ^ 1×5
A = ₹14,148.
So, the interest amount is A – P, i.e., 14,148-10,000 = ₹4,148
In case of simple interest, this formula is used:
M= P+ (PXRXT/100)
Here, M signifies maturity amount, P stands for investment amount, T is tenure of investment, and R is for a rate of interest.
Benefits of an Online Bank of Baroda FD Calculator
Take a look at these benefits of using an online Bank of Baroda FD calculator:
- The Bank of Baroda fixed deposit interest rate changes depending on the investment tenure and deposit amount. Hence, you can consider the FD option fitting to your financial goals after trying out multiple probabilities.
- The tool has zero chances of error in results as it works as per machine algorithms.
- The online calculator is entirely free to use.
- This free tool helps plan investment goals in a simplified way.
- You don’t need to provide any personal details or register/sign up to use the calculator.
- You can access it anytime with just an internet connection and a smart device.
Upstox Bank of Baroda fixed deposit calculator is a time-saving and simple tool that helps you know about the accrued interest and maturity amount of your fixed deposit investments. Also, it features a user-friendly interface to enhance user experiences. If you are planning to invest in Bank of Baroda FD, use this online tool to get a clear estimate of your returns and plan accordingly.
Frequently Asked Questions
What is the highest interest rate on Bank of Baroda FD?
The highest FD interest rate of Bank of Baroda can go up to 7.05% for general citizens for a deposit amount below Rs.2 crore. This rate can be a maximum of 7.55% for senior citizens.
What is the minimum amount of investment for FDs under Bank of Baroda?
You can start investing in a Bank of Baroda FD with a minimum investment amount of ₹1000.
In how many years has FD doubled in the Bank of Baroda?
Using the rule of 72, you can calculate the number of years it will need to double Bank of Baroda fixed deposit amount. You need to divide 72 by the rate of interest applicable to your deposit amount. For instance, if the interest rate for your FD scheme is 7.05%, it will take (72/7.05) 10.21 years for your FD to double.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit any extra amount into an already existing FD. You can open a new fixed deposit account separately.
Can I close a Bank of Baroda fixed deposit account online?
No, you cannot close a Bank of Baroda fixed deposit account online. You need to visit the nearest branch of BoB to close an FD account, get the Closure Form, fill it up and submit it along with the fixed deposit certificate.
Who are eligible to open a Bank of Baroda FD account?
Working individuals and senior citizens who are Residents of India are eligible to open a Bank of Baroda FD account.
Are there any special rates for senior citizens?
Yes, Bank of Baroda offers an additional interest rate of 0.5% over and above the traditional interest rate for senior citizens for fixed deposits.
What is the lock-in period for Tax Saving FD scheme?
The lock-in period for tax-saving fixed deposit schemes is 5 years. Premature withdrawal and loans against FD are not allowed during the lock-in period.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.