Bank of Baroda brings BOB FD Utsav for Super Senior Citizens, check other details

Jyoti — Wed, 16 Oct 2024 10:00:55 +0000

Bank of Baroda FD Utsav: Public sector Bank of Baroda (BOB) has become very kind to the super senior citizens of the country. However, it is also giving special attention to senior citizens.

During the festive season, Bank of Baroda has brought BOB FD Utsav for senior citizens and super senior citizens, in which senior citizens and super senior citizens are being given returns above super on fixed deposits (FD). The special thing is that this government bank is also giving the benefit of lock-in on monthly deposits for 3 to 5 years through SDP (Systematic Deposit Plan) to the customers under the BOB Deposit Scheme. Let us know how Bank of Baroda is giving benefits to senior citizens and super senior citizens.

Bank of Baroda launches BOB Utsav Deposit Scheme

Public sector bank Bank of Baroda has launched BOB Utsav Deposit Scheme for general customers along with senior citizens and super senior citizens. This scheme of the bank also includes a 400-day fixed deposit (FD) scheme. Under this, general customers are being given a return of 7.30% per annum on fixed deposits, 7.80% per annum to senior citizens, 7.90% per annum to super senior citizens of 80 years and above and up to 7.95% per annum on non-callable deposits. This scheme of Bank of Baroda has been launched on October 14, 2024 and is applicable on fixed deposits of less than Rs 3 crore.

Increase in returns on 3 to 5 year term deposits

Bank of Baroda has increased interest rates by 30 basis points (bps) for tenures of 3 years to 5 years during the festive season. After this move of the bank, customers will get an annual return of 6.50% to 6.80%. A statement issued by the bank said that after this increase in interest rates, BOB SDP (Systematic Deposit Plan) customers will also benefit, who can lock-in higher interest rates on each monthly contribution made for a period of 3 to 5 years.

Golden opportunity to get highest returns

Debdutta Chand, Managing Director and CEO, Bank of Baroda said that BOB Festive Deposit Scheme is a golden opportunity for customers to get the highest returns at this point in the interest rate cycle. Moreover, with the interest rate hike in the 3 to 5 year category, we are serving two different types of customers. First, those who are looking for competitive and assured returns in the medium term and second, those who want to grow their savings through regular contributions every month through BOB SDP.

Returns on BOB Fixed Deposit

On deposits of 7 to 14 days, general customers get 4.25% return and senior citizens get 4.75% return
4.50% return to general customers and 5% return to senior citizens on deposits of 15 to 45 days
On deposits of Rs 46 to 90, general customers will get 5.50% return and senior citizens will get 6% return
On deposits of 91 to 180 days, general customer gets 5.60% return and senior citizen gets 6.10% return
On deposits of 181 days to 210 days, general customer gets 5.75% return and senior citizen gets 6.25% return
On deposits of 211 days to 270 days, general customer gets 6.25% return and senior citizen gets 6.75% return
For deposits of 271 days and above or less than 1 year, general customers get 6.50% return and senior citizens get 7% return
On 1 year deposit, general customer gets 6.85% return and senior citizen gets 7.35% return
7% return for general customer and 7.50% return for senior citizen on deposits of more than 1 year to 400 days
For deposits of more than 400 days and 2 years, general customers will get 7% and senior citizens will get 7.50%
For deposits of more than 2 and up to 3 years, general customers get 7.15% return and senior citizens get 7.65% return
For deposits of more than 3 years and up to 5 years, the general customer gets 6.80% return and senior citizen gets 7.40% return
For deposits of more than 5 years and up to 10 years, 6.50% return is given to the general customer and 7.50% return is given to the senior citizen
For deposits of more than 10 years (Court Order Scheme), general customers will get 6.25% return and senior citizens will get 6.75% return