Bank of Baroda Regular Income Cum RD 2025
Bank of Baroda offers competitive interest rates on its RD schemes, making it an appealing choice for savers. You can choose a tenure for your RD account between 6 months and 10 years, giving you flexibility based on your financial needs.
Customers who plan to make long-term investments and save for their future can ideally take the Baroda Regular Income cum Recurring Deposit scheme and benefit with higher interest rates and longer deposit tenures.
Bank of Baroda offers compound interest on the Baroda Regular Income cum Recurring Deposit, which ensures that the customer gets maximum savings. Account holders can rest assured that their investments will be completely secure, reaping in higher returns.
Features of Baroda Regular Income Cum Recurring Deposit 2024
Monthly Installment Amount - Bank of Baroda customers can open recurring deposit account with a minimum installment amount of Rs.1000 and successive deposits can be made in multiples of Rs. 100.
Deposit Tenure - Baroda Regular Income cum Recurring Deposit customers can open deposits with a minimum tenure of 12 months to up to a maximum of 120 months.
Interest Rates - Bank of Baroda charges interest rates according to the tenure of the deposit and the amount deposited. For recurring deposits below Rs. 1 crore, the interest rate charged ranges between 4.50% to up to 7.30%.
For recurring deposits between Rs. 1 crore and Rs. 10 crores the interest rate charged ranges between 4.50% to up to 6.75%. For recurring deposits between Rs. 10 crores and Rs. 50 crores the interest rate charged ranges between 4.50% to up to 6.75%.
For recurring deposits between Rs. 50 crores and Rs. 100 crores the interest rate charged ranges between 4.50% to up to 6.75%.
Senior citizens can enjoy an additional 0.50% interest rate on Baroda Regular Income cum Recurring Deposits. This extra interest amount will be applicable on deposit amounts of Rs. 10,000 and higher.
The interest rate is compounded on a quarterly basis and will be credited to the customer’s account every six months. Interest paid is subject to TDS for a Baroda Regular Income cum Recurring Deposit account.
Premature Closure Penalty
Bank of Baroda does not charge any penalty for premature closures of deposits with amounts of up to Rs. 5 lakhs. This condition will apply if the Baroda Regular Income cum Recurring Deposit account has remained open with Bank of Baroda for a minimum tenure of 12 months.
For other recurring deposit accounts, the interest rate will be 1% below the applicable rates for the entire tenure of the deposit.
Overdraft Facility - Baroda Regular Income cum Recurring Deposit account holders can use the overdraft facility and withdraw up to 95% of their deposit amounts in the form of a pre-issued cheque.
Nomination - Bank of Baroda does provide the nomination feature for a Baroda Regular Income cum Recurring Deposit account.
Documents Required
- Residence Proof for the applicant
- 1 Passport Size Photograph
- Introduction Letter according to Bank of Baroda norms
RD Article Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit
FAQs on Bank of Baroda Regular Income Cum RD
- How much is the minimum amount require to invest in Baroda Regular Income cum RD scheme?
A minimum of Rs.1000 and in multiples of Rs.100 thereafter is required to invest in an RD scheme.
- Can I avail myself of a nomination facility on Baroda Regular Income cum RD scheme?
Yes, you can avail yourself of a nomination facility on Baroda Regular Income cum RD scheme.
- Is interest compounded quarterly in Baroda Regular Income cum RD scheme?
Yes, interest is compounded quarterly in Baroda Regular Income cum RD scheme.
- Will senior citizens get any additional rate of interest on investing in Baroda Regular Income cum RD scheme?
Yes, senior citizens will get an additional rate of interest of 0.5% on investing in Baroda Regular Income cum RD scheme.
- How much is the minimum period for investing in Baroda Regular Income cum RD scheme?
The minimum period for investing in Baroda Regular Income cum RD scheme is 12 months.
- How much is the maximum period for investing in Baroda Regular Income cum RD scheme?
The maximum period for investing in Baroda Regular Income cum RD scheme is 120 months.
- Is there any limit on the amount of deposit that can be made in Baroda Regular Income cum RD scheme?
No, there is no upper limit on the amount of deposit that can be made in Baroda Regular Income cum RD scheme.
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