Bank of Baroda Recurring Deposit (RD) Rates

Recurring Deposits at the Bank of Baroda (BOB) is one of the most beneficial deposit schemes for individuals with a regular income source and seeking a secure investment option. Under this scheme, you can save a part of your income by depositing it in your BOB RD account every month for a predetermined tenure.

The third-largest public sector bank in the country, Bank of Baroda, offers competitive interest rates that enable you to earn good returns from your monthly deposits. Read to learn more about Bank of Baroda RD interest rates.

Bank Of Baroda Recurring Deposit Scheme Highlights For 2025

Refer to the following table that features some of the major highlights of the Bank of Baroda Recurring Deposit Schemes for 2025:

Bank Of Baroda RD Interest Rate 2025

With competitive interest for Bank of Baroda Recurring Deposit accounts, you can effectively plan your long-term financial plan. However, you must remember that the BOB RD interest rates are subject to change and are revised by the bank from time to time.

Hence, it is crucial to check the interest rates for the specific year you are planning to opt for an RD account at the Bank of Baroda.

Nevertheless, the following table provides the Bank of Baroda RD interest rates 2025:

Please note that the BOB RD interest rates mentioned in the above table are applicable for deposits that are less than Rs. 3 Crore. 

Types Of Bank Of Baroda RD Accounts

Bank of Baroda offers majorly three types of Recurring Deposit schemes that cater to the varied requirements of individuals:

Bob SDP

Under this scheme, the minimum initial deposit should be Rs. 50, and the tenure would range from 6 months to 120 months. The interest earned is compounded quarterly and is paid on a monthly basis. You are allowed to close the account and withdraw the deposits before maturity without attracting penalties.

Flexible Recurring Deposit Scheme

Under this scheme, the minimum initial deposit should be Rs. 100, with a maximum of Rs. 10,000 and the tenure would range from 12 months to 120 months. The interest would be paid and credited on a half yearly basis. Senior citizens will get additional interest as per guidelines.

Bob Lakhpati 

Under this scheme, the minimum initial deposit should be Rs. 1,000, and the tenure would range from 33 months to 120 months. The interest earned is compounded quarterly and is paid on maturity. You are allowed to close the account and withdraw the deposits before maturity without attracting penalties.

Bob Millionaire

Under this scheme, the minimum initial deposit should be Rs. 10,000, and the tenure would range from 33 months to 120 months. The interest earned is compounded quarterly and is paid on a monthly basis. You are allowed to close the account and withdraw the deposits before maturity without attracting penalties.

Bob Crorepati 

Under this scheme, the minimum initial deposit should be Rs. 60,000, and the tenure would range from 45 months to 120 months. The interest earned is compounded quarterly and is paid on a monthly basis. You are allowed to close the account and withdraw the deposits before maturity without attracting penalties.

Features Of Bank Of Baroda RD Interest Rates

Go through the following points that showcase some of the major features of the RD interest rates of BOB, which make it a preferable choice for numerous individuals:

• Minimum Deposit

Recurring Deposit accounts tend to have a minimum initial requirement. Likewise, the Bank of Baroda comes with a requirement of Rs. 50 as the initial deposit. After fulfilling the requirement of the initial amount, you can increase the specified amount by informing the bank about it.

• Interest Rates

Bank of Baroda recurring deposit interest rates are competitive and can be as high as 7.15% for the general public and 7.65% for senior citizens per annum. The interest rates for the Recurring Deposit accounts tend to change every year; however, BOB RD is one of the sought-after schemes for monthly savings.

• Flexibility

You are allowed to make flexible installments based on half-yearly or quarterly modes. You can also open your Recurring Deposit account at the Bank of Baroda from any branch and avail the applicable facilities. You are also allowed to select a family member as your nominee who can receive the sum in your absence.

• Tenure

Bank of Baroda provides the flexibility to allow account holders to select tenure at their convenience. Tenure ranges from 181 days to 10 years. However, you need to remember that your tenure will impact your RD interest rates.

How To Calculate Bank Of Baroda RD Interest Rate?

The Bank of Baroda recurring deposits interest rates are calculated quarterly and compounded to allow you to earn good returns on your monthly investment.

Hence, according to the compound interest method, the recurring deposit interest rates of Bank of Baroda are compounded every quarter from the date of the initial deposit. 

The following is the formula used for RD interest calculations:

M = P x {(1 + r/n)^(nt) - 1} / (1 - (1 + r/n)^-n). 

Here:

• M: Amount of Maturity
• P: Amount of Monthly Deposit
• r = yearly interest rate (In decimal form)
• t = time length (in years)
• n = number of compounded interest periods each year

Example: 

Sunita opens an RD account in Bank of Baroda with a monthly deposit of Rs. 3000 for 3 years at Bank of Baroda with an interest rate of 5.10%.

 M = P x {(1 + r/n)^(nt) - 1} / (1 - (1 + r/n)^-n). 

As per the formula, 

• P = Rs. 3000
• r = 5.10% p.a
• n = 4 (quarterly)
• t = 36 months (3*12)

M = 3000 x {(1 + 5.10%/4)^(4*36) - 1} / (1 - (1 + 5.10%/4)^-4)

M = Rs. 1,16,888.6

Therefore, from the above calculation, it is understood that Sunita will get a return of Rs. 1,16,888 after completing the tenure of 3 years and depositing Rs. 3000 every month for 3 years.

Consider using the Bank of Baroda RD Calculator to get the estimated returns based on the tenure and monthly deposit amount. It helps you get accurate results in no time while also allowing you the flexibility to change the details and calculate until you are satisfied with the results.

Eligibility For Opening Bank Of Baroda RD Account

Bank of Baroda offers multiple Recurring Deposit schemes for a wide range of organisations and individuals. However, there are a few eligibility parameters that you need to satisfy whenever you wish to open a Bank of Baroda Recurring Deposit:

• All Indian residents are allowed to open Bank of Baroda Recurring Deposit accounts only in their names.
• NRIs can also open Bank of Baroda Recurring Deposit accounts, however, only through NRO accounts.
• Minors are also eligible to open an RD account at the Bank of Baroda with their legal guardians.
• Educational institutions, joint stock companies, associations, corporate bodies, professional partnership firms, and company clubs are also eligible to open the Central Bank of India RD accounts.

Documents Required For Opening Bank Of Baroda RD Account

Bank of Baroda needs to verify the authentication of your location and identity before sanctioning your Recurring Deposit account with them. Thus, the following are some of the crucial documents you will need to open a BOB RD account.

Address Proof

• Electricity bill
• Passport
• Telephone bill
• Bank statements with a cheque
• ID cards or certificates issued from the post office

Identity Proof

• Passport
• Government ID card
• PAN card
• Driving licence
• Ration card
• Senior citizen ID card

Please note that you may need to submit a few other documents based on the type of RD account you wish to open at the Bank of Baroda. Thus, it is always better to inquire about the required set of documents from the bank beforehand.

How To Open Bank Of Baroda RD Account?

Bank of Baroda offers the flexibility to open your Recurring Deposit account through both online and offline processes. Go through the following step-by-step process of opening a Bank of Baroda RD account:

Online Application

1. Visit the official website of Bank of Baroda.
2. Log in with your credentials through the “Net Banking” section.
3. Navigate to the option to open a Recurring Deposit account.
4. Enter the information as asked, including installment amount, account number, tenure, etc.
5. Choose a nominee after checking the applicable interest rate.
6. Read the terms and conditions and tick the checkbox.
7. Click on the “Submit” option to complete your RD account application process.

Once you complete the application process, you will receive a confirmation message with your registered mobile number and email ID. Your specified installment amount will be debited accordingly.

Offline Application

1. Visit your nearest Bank of Baroda with your savings or current account details.
2. Navigate to the necessary authority member and ask for an RD account application form.
3. Fill in the application form by providing all the essential details including deposit tenure, installment amount, payment mode, nominee etc.
4. Make your first deposit through cash or using a cheque.
5. Submit the application form along with copies of the required documents to the branch manager.

Once you complete the process, the bank shall process your RD account application within a stipulated time frame.

How To Close Bank Of Baroda RD Account?

You can refer to the following step-by-step process to close your Bank of Baroda RD account:

1. Visit your nearest Bank of Baroda with your RD account details.
2. Navigate to the necessary authority member and ask for an RD account closure form.
3. Fill in the required details as asked and sign it. Please note that if the RD account has a joint holder, the closure accounts will need their signature and consent as well.
4. Attach the self-attested copies of the required documents with the closure form. These include KYC, PAN card, address proof, identity proof, RD account receipt, RD certificate etc.
5. Submit the form to the branch manager.

Benefits Of Bank Of Baroda RD Account

Having a Recurring Deposit account in the Bank of Baroda is one of the best investment options, especially for those with a stable income source every month. Thus, the following are some of the major benefits of investing in a Bank of Baroda Recurring Deposit scheme:

• Bank of Baroda recurring deposit accounts are helpful for both short-term and long-term financial goals. 
• Bank of Baroda also allows minors aged 10 years and above to have their Recurring Deposit accounts. However, such accounts might have some limitations on the maximum deposit amounts and should be mandatory with their legal parents.
• Even though you must withdraw funds from your Recurring Deposit account only after maturity, you are allowed to opt for up to 90% of a loan from your deposited funds at the Bank of Baroda. 
• Bank of Baroda does not charge TDS on Recurring Deposits if the total interest on all deposits is below Rs. 10,000 in one financial year. Also, you can get relief from the provisions of TDS by submitting Form 15G/15H.

Bank Of Baroda RD Premature Withdrawal Rules

Even though premature withdrawal of Recurring Deposits is not allowed, you can still opt for the same by attracting a penalty. Hence, you need to opt for a premature withdrawal of deposits up to Rs. 5 lakhs to avoid penalties.

Also, the deposit should remain with the bank for 12 months minimum with the withdrawal. Nevertheless, the bank charges a penalty of 1% on the applicable interest for premature withdrawal from Recurring Deposits accounts.

With competitive Bank of Baroda RD interest rates, you can effectively achieve your short-term and long-term financial goals. Hence, investing in a recurring deposit scheme can be the ideal option for increasing your wealth if you have a regular monthly income.