Bank of Baroda FD Rates Senior Citizen

What is a Bank of Baroda Senior Citizen FD?

Bank of Baroda Senior Citizen FDs are term deposits for individuals aged 60 and above. The scheme offers senior citizens and super senior citizens higher interest rates (up to 7.10% and 7.20% p.a. for the current quarter) compared to the standard BOB FD rates. BOB fixed deposits offer flexible interest payout options, auto-renewal, loans against FD, and tax-saving schemes, among other features. 

Bank of Baroda FD Rates Senior Citizen Highlights

• Tenure: Ranges from 7 days to 10 years
• Premature Withdrawal: No penalty for deposits up to ₹5 lakh after 1 year; a 1% penalty afterwards
• Auto-Renewal Facility: Available
• Loan Against FD: Available
• Credit Card Against FD: Available
• TDS: Applicable as per tax laws

Bank of Baroda FD Rates Senior Citizen

Bank of Baroda offers guaranteed rates for resident senior citizens and super senior citizens. Here are the rates available for different deposit amounts and tenures.

Bank of Baroda Senior Citizen FD Rates (Deposits Below ₹ 3 Crore - Callable)

BOB FD interest rates 2025 for senior citizens w.e.f September 12, 2025. For senior citizen interest rates on deposits above ₹3 crore, please contact bank personnel.

Bank of Baroda Senior Citizen FD Rates ( From ₹1 crore to ₹3 crore - Non-Callable)

Bank of Baroda FD interest rates For senior citizens w.e.f September 12, 2025

Types of Bank of Baroda FD Senior Citizen

The types of BOB senior citizen FD scheme offered by Bank of Baroda FD senior citizens are:

• BOB Tax Saving Fixed Deposit: A tax-saving term deposit account designed to help senior citizens save on taxable income. The deposit amount ranges from ₹100 to ₹1.5 lakh.
• Capital Gain Account Scheme: Capital Gains Account Scheme (CGAS) - used to park long-term capital gains to claim exemption under Sections 54 and 54F of the Income-tax Act.
• Monthly Income Plan (MIP): Aimed at providing additional interest rate benefits to senior citizens, this account pays interest monthly. Ideal for those who prefer regular income from their investments.
• Quarterly Income Plan (QIP): Another senior citizen-centric scheme that offers higher interest rates and added benefits such as flexible withdrawals and enhanced liquidity.
• BOB Advantage Fixed Deposits: It’s a non-callable scheme best suited for investors looking to park large savings securely. This scheme offers higher interest rates for deposit amounts of ₹1,00,01,000 and above.

How to Open BOB Senior Citizen FD

Opening a Bank of Baroda senior citizen FD account is simple and can be done both online and offline. You can visit the nearest branch, use net banking, or the mobile app.

Online Method

Through Net Banking:

To open a BOB Senior Citizen FD via net banking, follow these steps:

Step 1: Visit the official Bank of Baroda website

Step 2: Register a new ID or log in using existing credentials

Step 3: Click on the option ‘Open a Fixed Deposit Account’

Step 4: Enter the required details such as personal information, investment amount, tenure, nominee details, etc.

Step 5: Upload your KYC documents.

Step 6: Review the information and click ‘Confirm’ to proceed.

Step 7: Make the payment via net banking.

Step 8: Once the payment is successful, your FD account will be opened, and you can start earning the senior citizen FD rates.

Through Mobile App:

To open an FD account using the Bank of Baroda mobile app, follow these steps:

Step 1: Download and install the Bank of Baroda mobile app.

Step 2: Log in using your credentials.

Step 3: Tap on the ‘Open an FD Account’ tab.

Step 4: Fill in the required details, including personal information, investment amount, and tenure.

Step 5: Upload KYC documents.

Step 6: Review your details and click ‘Submit’.

Step 7: Make the payment via online payment methods.

Step 8: After completion, your FD account will be opened with the applicable senior citizen FD rates.

Offline Method

Step 1: Visit the nearest Bank of Baroda branch

Step 2: Collect and fill out the FD application form with all necessary details.

Step 3: Submit the completed form along with the required documents.

Step 4: Deposit the investment amount via cash or cheque.

Step 5: After verification, your senior citizen FD account will be opened.

Eligibility of BOB Senior Citizen FD

To open a Bank of Baroda Senior Citizen FD, applicants must meet the following eligibility criteria:

• Must be a resident of India
• Must be above 18 years of age
• Note: Businesses, other entities, and Non-Resident Indians (NRIs) are not eligible for the senior citizen FD scheme.

Documents Required to Open a BOB Senior Citizen FD

The general documents required to open a Bank of Baroda Senior Citizen FD include:

• Proof of Identity (e.g., Aadhaar, Passport, Voter ID)
• Proof of Address
• Proof of Date of Birth (to confirm senior citizen status)
• Recent Photograph
• PAN Card
• Any other document as required by the bank

Benefits of the Bank of Baroda Senior Citizen FD Scheme

The Bank of Baroda Senior Citizen FD scheme offers a range of benefits, ensuring to meet the financial needs of individuals aged 60 and above:

• Digital Banking Services: Senior citizens can conveniently open and manage their FD accounts through internet banking, allowing them to stay updated on their account details at all times.
• Multiple Types of FD Accounts: To suit diverse financial goals, Bank of Baroda offers a variety of fixed deposit account options for senior citizens.
• Flexible Investment Tenures: Investors can choose from a wide range of tenures, allowing them to invest according to their preferred time and financial goals.
• Higher Returns: FD schemes offer better returns compared to regular savings accounts, with additional interest benefits for senior and super senior citizens.
• Nomination Facility: Most senior citizen FD schemes include a nomination option, allowing depositors to assign a nominee who can access the funds in their absence.

Taxation on BOB Senior Citizen FDs

The interest earned from Bank of Baroda Senior Citizen Fixed Deposits is taxable and considered part of your total income, subject to your applicable income tax slab under the Income Tax Act. Starting April 1, 2025, TDS will be applicable only if the total annual interest exceeds ₹1 lakh. Senior citizens whose total income falls below the taxable threshold can avoid TDS by submitting Form 15H. Additionally, under Section 80TTB, they can claim an interest deduction of up to ₹50,000 per financial year.

Conclusion 

Bank of Baroda FD Rates for Senior Citizens range from 4.00% to 7.10% p.a., offering competitive FD interest rates based on deposit amount and tenure. With easy online and offline account opening, flexible payout options, and exclusive benefits, the scheme is ideal for resident Indians aged 60 and above. It’s a reliable option to grow your savings while enjoying enhanced features and financial security.