Bank of Baroda Special FD Schemes

Bank of Baroda Key Special FD Schemes

Amongst the other bob special FD schemes, the highest rate is offered on the 555-day tenure of up to 6.75% p.a. for general and 7.25% p.a. for senior citizens. The standard BOB FD rates are available for other tenures, which depends chosen category and tenure.

1. bob Golden Goal Deposit Scheme (555 Days):

   The bob Golden Goal Deposit Scheme is a special fixed deposit from Bank of Baroda for investments under ₹3 Crore. It offers an attractive, fixed tenure of 555 days to help grow your savings.

   • General Public: 6.75% p.a.
   • Senior Citizens: 7.25% p.a.
   • Super Senior Citizens (80+ yrs): 7.35% p.a.

2. bob Square Drive Deposit Scheme (444 Days):

   The bob Square Drive Deposit Scheme is Bank of Baroda's high-yield 444-day fixed deposit for retail investments under ₹3 Crore, offering special interest rates across callable and non-callable options.

   • General Public: 6.45% p.a.
   • Senior Citizens: 6.95% p.a.
   • Super Senior Citizens: 7.05% p.a.

3. bob Earth Green Term Deposits:

   The bob Earth Green Term Deposit is Bank of Baroda's eco-friendly fixed deposit scheme that uses customer deposits to fund green and sustainable projects across special tenures of 777, 1111, 1717, and 2201 days.

   • Tenure: 777 days, 1111 days, 1717 days, and 2201 days.
   • Minimum Deposit: For Callable Deposits ₹5,000 | For Non-Callable Deposits Above ₹1.00 crore
   • Interest Rates: 5.95% - 6.25% p.a. for general citizens | 6.70% - 6.95% p.a.

Illustrations for Different BOB Schemes

Below are illustrations showing how each scheme works with sample investment amounts, interest calculations, and maturity values:

BOB 555 Days FD

With a tenure of about 1.5 years (555 days), this scheme offers steady returns and enhanced rates for older depositors.

If a super senior citizen invests ₹80,000 at 7.35% p.a.

• Simple Interest: (80,000 x 7.35 x 1.52) / 100 = ₹8,941
• Maturity (SI): ₹88,941
• Compound Interest (Quarterly): = ₹9,392
• Maturity (CI): ₹89,392

This scheme highlights the premium benefits extended to older investors.

BOB Square Drive Deposit Scheme (444 Days)

Aimed at medium-term savers, this scheme runs for 444 days (1.22 years), offering high-yield rates.

If a general citizen invests ₹1,50,000 at 6.45% p.a.:

• Simple Interest: (1,50,000 x 6.45 x 1.22) / 100 = ₹11,804
• Maturity (SI): ₹1,61,804
• Compound Interest (Quarterly): = ₹12,185
• Maturity (CI): ₹1,62,185
• Senior Citizen (6.95% p.a.) Maturity (CI): = ₹1,63,158
• Super Senior Citizen (7.05% p.a.) Maturity (CI): = ₹1,63,353

Note: The Bank of Baroda FD interest calculator can help estimate maturity amounts.

Core Features & Benefits of Bank of Baroda Special FD Schemes

When evaluating BoB special FD schemes, consider the following features, benefits, and constraints:

• Limited Availability: Many special FD schemes are promotional, which may be launched for a limited time or up to a certain aggregate deposit size.
• Auto-Renewal: Deposit may be set to auto-renew or provide instructions to close and credit to savings/current account.
• Early Withdrawal: Some special schemes (e.g, BoB Advantage non-callable FDs) explicitly disallow early break or permit it only under strict conditions.
• Lock-in Periods: Although not all special schemes are strictly lock-in, many offer penalised or no premature withdrawal for portions of the tenure, particularly in odd or promotional tenures.
• Overdraft Against FD: Many FDs (including special ones) permit a loan or overdraft facility against FD. The special/ liquid FDs may offer more liberal limits.
• Minimum and Maximum Deposit Amounts: 399-day Tiranga Plus FD starts at ₹1,000, 444-day Square Drive covers deposits up to ₹3 crore, Earth Green FDs from ₹5,000 up to below ₹2 crore for special tenors, and the 555-day FD generally follows standard rules with a ₹1,000 minimum.
• Differential Rate for Senior Citizens: In many schemes (including Bob Golden Goal deposit), bob senior citizens FD rates are comparatively higher than the general rates (e.g., 7.25 % vs 6.65 %).

Eligibility Criteria for Bank of Baroda Special FD Schemes

These schemes are open to various categories of applicants, such as:

• Individual residents (including senior citizens)
• HUFs (Hindu Undivided Families)
• Proprietorship firms
• Partnership firms
• Companies, LLPs
• Trusts, Societies, Associations
• Government / semi-government bodies

Documents Required for Bank of Baroda Special FD Schemes

To open a Bank of Baroda Special FD, new customers need to provide the following:

• Identity Proof: Valid government-issued ID such as Aadhaar, PAN, Passport, Voter ID, or Driving Licence.
• Address Proof: Recent utility bill, Aadhaar, Passport, or bank statement showing the current address.
• Photograph: Passport-size photo, especially if applying at a branch.
• PAN Card: Required for taxation and TDS purposes.
• KYC Compliance: Digital FDs may allow e-KYC or video KYC, while offline applications require physical documents.
• Bank Account Details: Linked BoB savings account or current account for crediting interest and maturity proceeds.
• For Non-Individual Entities: Documents such as company registration or incorporation certificates, board resolutions, and authorised signatory details may be needed.

Tax Implications on BoB Special FD Schemes

Interest earned on Bank of Baroda special FD schemes is fully taxable under "Income from Other Sources." TDS applies if your total annual interest across branches exceeds ₹50,000 for non-senior citizens and ₹1,00,000 for senior citizens at a 10% rate (20% without PAN). You can avoid TDS by submitting Form 121 if your total annual income remains below the taxable limit. The special short-term FDs do not qualify for tax deductions; only the 5-year Bank of Baroda Tax Saving FD offers benefits up to ₹1.5 Lakh under Section 123 (under the old tax regime).