Bank of Baroda NRE FD Rates

Bank of Baroda is known for its customer-focused schemes in the banking industry. The bank is known for its customer-friendly initiatives such as specialized branches for NRIs and loan processing, enabling quick disbursing loans with efficient operations.

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The bank's foundation is built on three core values: transforming the banking business, building digital capabilities, and investing in talented individuals who can build and take the organization forward.

The bank relies heavily on its talented and motivated employee base for effective bank operations around the world. The bank has created a pleasant working place for their employees to thrive. The bank has also demonstrated technology prowess by providing its customers with excellent internet banking services, online payment of utility bills, purchasing rail tickets, and online shopping. The bank is known for its high customer satisfaction ratings and is well on course to become the most admired bank.

Bank of Baroda FD for NRIs

The Bank of Baroda offers attractive interest rates for fixed deposit schemes. The fixed deposit scheme provides safe and steady returns to the customers over a while. The customer reaps more significant returns from FD schemes than the money deposited in savings accounts over the same period. The bank offers a variety of options to choose from when it comes to FD. The schemes are classified as short-term and long-term, depending on the time horizon of the investors.

The scheme's flexibility makes it a convenient option for people across all sections of the society ranging from young, middle-aged, and senior citizens. The bank offers competitive interest rates for non-residential Indians and several FD schemes for the NRIs. The information related to the FD scheme for the NRIs is as follows.

Types of FDs for NRIs

The Bank of Baroda offers plenty of options for NRI to invest in the fixed deposit schemes. The list of FDs and the Bank of Baroda NRE FD rates are as follows.

NRO (Rupee) Fixed Deposits

  • The account holder has an option to park his money in the bank free of cost.
  • The bank account details are kept confidential.
  • The bank provides auto-renewal for the one-year matured term deposit. The bank auto-renews the principal amount on its due date.
  • The interest rates for the upcoming year are applied to the renewed deposit.
  • The account holder can plan his finances as per the due date.
  • The account holder can use the deposit receipts to avail of loans and overdrafts.
  • The bank also provides an option to choose a nominee.

Foreign Currency Linked Rupee Deposits Scheme

  • It provides the combined benefits of NRE Rupee Deposits and FCNR Deposits.
  • The maturity value is calculated in foreign currency at the inception.
  • It reduces the risk of capital loss at the exchange rate.
  • The bank accepts Standing instructions from the account holders and executes them at their convenience.
  • The account holder can edit the name and modify it accordingly.
  • The foreign currency linked rupee deposits scheme provides for easy liquidity and currency convertibility.

Foreign Currency Non-resident Term Deposit

  • The foreign currency non-resident term deposit plan enables the account holder to repatriate the matured amount in a foreign currency of his choice.
  • The account holder can transfer funds from the FCNR account to any of the NRI accounts.
  • The scheme also offers income tax benefits on the interest earned.
  • The details related to transactions and accounts are confidential.
  • The account holder can repatriate the entire funds.
  • The customer can also provide standing instructions to renew the matured amount for the upcoming tenure automatically.
  • The bank permits joint account holding where one or more customers can hold the same account.
  • The customer needs to submit his KYC documents every two years; failure to do so can result in the crystallization of the deposit by the end of three years.
  • The scheme provides easy liquidity for the depositors.

NRE (Rupee) Fixed Deposits

  • The customer can open an account by wiring money from a foreign country.
  • The customer can also open an account by paying the dues in INR.
  • The methods mentioned above are used to convert the existing domestic account to an NRO account.
  • The bank accepts deposits for time horizons ranging from fifteen days to one hundred and twenty months.
  • The NRE fixed deposit plan enables the NRIs to invest from local profits/yields.
  • The bank provides an option to keep the deposit receipt free of cost.
  • The scheme provides an auto-renewal feature for one year.
  • The bank also issues intimation of due dates for better preparedness.
  • The bank keeps the information of the account holders safely and securely.
  • The customer is allowed to prematurely withdraw the deposit for renewal at a better interest rate.
  • The scheme allows relatives to apply as joint holders to the account.

Rates Associated with FD Types

The Bank of Baroda NRE fixed deposit rates for a deposit below 2 Crore rupees.

  • Seven days to fourteen days-2.80
  • Fifteen days to forty-five days-2.80
  • Forty-six days to ninety days-3.70
  • Ninety-one days to one hundred and eighty days-3.70
  • One hundred and eighty-one days to two hundred and seventy days-4.30
  • Two hundred and seventy days and above but less than a year-4.40
  • One year-4.90
  • More than one year up to four hundred days-5.00
  • More than four hundred days up to two years-5.00
  • From two years and up to three years-5.10
  • From three years and up to five years-5.25
  • From five years and up to ten years-5.25
  • Above ten years-5.10

The Bank of Baroda NRE fixed deposit rates for a deposit between 2 Crore to 10 Crore.

  • Seven days to fourteen days-2.90
  • Fifteen days to forty-five days-2.90
  • Forty-six days to ninety days-2.90
  • Ninety-one days to one hundred and eighty days-2.90
  • One hundred and eighty-one days to two hundred and seventy days-3.05
  • Two hundred and seventy days and above but less than a year-3.05
  • One year-3.55
  • More than one year and up to two years-3.25
  • From two years and up to three years-4.10
  • From three years and up to five years-3.25
  • From five years and up to ten years-3.25

The Bank of Baroda NRE fixed deposit rates for a deposit amount above 10 Crore to up to 50 Crore.

  • Seven days to fourteen days-2.90
  • Fifteen days to forty-five days-2.90
  • Forty-six days to ninety days-2.90
  • Ninety-one days to one hundred and eighty days-2.90
  • One hundred and eighty-one days to two hundred and seventy days-3.05
  • Two hundred and seventy days and above but less than a year-3.05
  • One year-3.55
  • More than one year and up to two years-3.25
  • Longer than two years and up to three years-4.10
  • Longer than three years and up to five years-3.25

The Bank of Baroda NRE fixed deposit rates for a deposit amount above 50 Crore to up to 100 Crore.

  • Seven days to fourteen days-2.90
  • Fifteen days to forty-five days-2.90
  • Forty-six days to ninety days-2.90
  • Ninety-one days to one hundred and eighty days-2.90
  • One hundred and eighty-one days to two hundred and seventy days-3.05
  • Two hundred and seventy days and above but less than a year-3.05
  • One year-3.55
  • More than one year and up to two years-3.25
  • Longer than two years and up to three years-4.10
  • Longer than three years and up to five years-3.25

The Bank of Baroda NRE fixed deposit rates for a deposit amount above 100 Crore.

  • Seven days to fourteen days-2.90
  • Fifteen days to forty-five days-2.90
  • Forty-six days to ninety days-2.90
  • Ninety-one days to one hundred and eighty days-2.90
  • One hundred and eighty-one days to two hundred and seventy days-3.05
  • Two hundred and seventy days and above but less than a year-3.05
  • One year-3.55
  • More than one year and up to two years-3.25
  • Longer than two years and up to three years-4.10
  • Longer than three years and up to five years-3.25

Foreign Currency Non-Resident Deposit

The Bank of Baroda NRI FD rates associated with FCRN are as follows.

Maturity Period

USD

GBP

EUR

AUD

One year to less than two years

0.58

0.49

0.00

0.22

Two years to less than three years

0.65

0.67

0.00

0.31

Three years to less than four years

0.85

0.83

0.00

0.44

Four years to less than five years

1.09

0.97

0.06

0.72

Five years

1.32

1.08

0.15

0.97

Baroda Fixed deposit (non-callable) for NRIs, NRE/NRO deposit

Maturity range

The interest rate for deposit between 15 Lakh and 2 Crore rupees

One year

4.95

One year to four hundred days

5.05

Four hundred days to two years

5.05

Two years to three years

5.15

Three years to five years

5.35

Five years to ten years

5.35

The Bank of Baroda NRE term (rupee) deposits below 2 Crore rupees

Maturity range

Interest rates below 2 Crore rupees

One year

4.90

One year to four hundred days

5.00

Four hundred days to two years

5.00

Two years to three years

5.10

Three years to five years

5.25

Five years to ten years

5.25

*The rates provided above are subject to changes and vary according to the repo rates given by the RBI.

Conclusion

The bank of Baroda provides a variety of NRI services such as fixed deposit schemes and other investment schemes to transfer money from abroad. The bank's global presence has helped customers abroad avail of services and provides hassle-free remittances to the family and loved ones of the account holder. The bank has also implemented the Global Treasury Solutions worldwide at several locations in Europe, Asia, and the Middle East.

Written By: PolicyBazaar - Updated: 20 July 2021
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