Interest Rates and Service Charges

  • Fixed Deposits (Callable):
    Domestic Term Deposits including NRO Deposits below ₹ 2.00 Crores, ROI in % [Fresh & Renewal] - (w.e.f 12-05-2023)
    Tenors Residents / General Public Resident Indian Sr. Citizen
    7 days to 14 days 3.00 3.50*
    15 days to 45 days 3.00 3.50*
    46 days to 90 days 4.50 5.00*
    91 days to 180 days 4.50 5.00*
    181 days to 210 days 5.25 5.75*
    211 days to 270 days 5.75 6.25*
    271 days & above and less than 1 year 5.75 6.25*
    1 year 6.75 7.25*
    Above 1 year to 400 days 6.75 7.25*
    Above 400 days and upto 2 Years 6.75 7.25*
    Above 2 Years and upto 3 Years 7.05 7.55*
    Above 3 Years and upto 5 Years 6.50 7.15 #
    Above 5 Years and upto 10 Years 6.50 7.50***
    Above 10 years (MACT/MACAD
    Court Order schemes only)     		6.25 6.75*
    399 Days (Baroda Tiranga Plus Deposit Scheme) 7.25 7.75*

    (* incl. additional ROI 0.50%, # incl. additional ROI of 0.50+0.15, *** incl. additional ROI of 0.50%+0.50%)

    Note:

    • Preferential Rate is applicable only for Resident Indian Sr. Citizen, Resident Staff & Resident Senior Citizen Retired staff as per Deposit Policy.
  • Domestic Term Deposits & NRO Deposits ₹ 2.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f 04.09.2023)
    Domestic Term Deposits & NRO Deposits (Callable)
    Tenors Rs. 2.00 ≥ to < 2.20, 2.25 ≥ to < 2.65,
    2.70 ≥ to < 6.35 & 6.40 ≥ to ≤ 10 (Crs)     		Rs. 2.20 ≥ to < 2.25, 2.65 ≥ to < 2.70 & 6.35 ≥ to < 6.40 (Crs)
    7D to 14D 4.00 4.00
    15D to 45D 4.50 5.25
    46D to 90D 5.25 5.25
    91D to 180D 5.00 5.00
    181D to 270D 5.00 5.00
    271D to less than 1Y 6.00 6.00
    1 Year 7.45 7.45
    Above 1Y to 15M 6.25 6.25
    Above 15M to 2Y 6.25 6.25
    Above 2Y to 3Y 6.00 6.00
    Above 3Y to 5Y 5.25 5.25
    Above 5Y and upto 10Y 5.00 5.00

    Note:

    • No Additional ROI for Non-Callable is provided to NRE / NRO deposits of Rs. 2.00 Crores & Above as per existing guideline.
    • Above rates will not be loaded with any other type of additional rate of interest (like Sr. Citizen, Army / Naval Groups, Staff etc.).
  • Domestic NRE Term Deposits ₹ 2.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f 04.09.2023)
    Tenors ROI
    1 Year 7.45
    Above 1Y to 15M 6.25
    Above 15M to 2Y 6.25
    Above 2Y to 3Y 6.00
    Above 3Y to 5Y 5.25
    Above 5Y and upto 10Y 5.00

    Note:

    • No Additional ROI for Non-Callable is provided to NRE / NRO deposits of Rs. 2.00 Crores & Above as per existing guideline (Circular No. BCC: BR: 111: 244 dated 29.05.2019).
    • Above rates will not be loaded with any other type of additional rate of interest (like Sr. Citizen, Army / Naval Groups, Staff etc.).
  • Domestic Fixed Deposits including NRO Deposits of Above Rs 10 Crores to upto Rs 1000 Crores, ROI in % [Fresh & Renewal] - (w.e.f. 07-08-2023)
    Maturity Range Amount of Deposit Per receipt    
    Above Rs 10 cr. to upto Rs 25 cr.
    		Above Rs 25 cr. to upto Rs 50 cr.
    		Above Rs 50 cr. to upto Rs 100 cr.
    		Above Rs 100 cr. to upto Rs 500 cr.
    		Above Rs 500 cr. to upto Rs 1000 cr.
    		Above Rs 1000 cr.
    7 days to 14 days 4.50 4.50 4.50 4.50 4.50 4.50
    15 days to 45 days 5.00 5.00 5.00 5.00 5.00 5.00
    46 days to 90 days 5.50 5.50 5.50 5.50 5.50 5.50
    91 days to 180 days 6.00 6.00 6.00 6.00 6.00 6.00
    181 days to 270 days 7.00 7.00 7.00 7.00 7.00 7.00
    271 days & above and
    less than 1 year     		7.25 7.25 7.25 7.25 7.25 7.25
    1 year 7.45 7.45 7.45 7.45 7.45 7.45
    Above 1 Year and upto 2 Years 7.00 7.00 7.00 7.00 7.00 7.00
    Above 2 Years and upto 3 Years 6.00 6.00 6.00 6.00 6.00 6.00
    Above 3 Years and upto 5 Years 5.25 5.25 5.25 5.25 5.25 5.25
    Above 5 Years and upto 10 Years ** ** ** ** ** **
  • NRE Term (Rupee) Deposits Below Rs. Two Crore, ROI in % [Fresh & Renewal] – (w.e.f. 12-05-2023)
    Tenors Below Rs.2.00 crore
    1 year 6.75
    Above 1 Years to 400 days 6.75
    Above 400 days and upto 2 Years 6.75
    Above 2 Years and upto 3 Years 7.05
    Above 3 Years and upto 5 Years 6.50
    Above 5 Years and upto 10 Years 6.50
    399 Days (Baroda Tiranga Plus Deposit Scheme) 7.25
  • NRE Term Deposits of Above Rs. 10 crores to upto Rs.1000 Crores, ROI in % [Fresh & Renewal] - (w.e.f. 07-08-2023)
    Maturity Range
    Amount of Deposit Per Receipt
    Above Rs.10 cr. to upto Rs.25 cr.
    		Above Rs.25 cr. to upto Rs.50 cr.
    		Above Rs.50 cr. to Rs.100 cr .
    		 Above Rs.100 cr. to Rs.500 cr .
    		 Above Rs.500 cr. to Rs.1000 cr.
    		Above Rs.1000 cr.
    1 year 7.45 7.45 7.45 7.45 7.45 7.45
    > 1 year up to 2 years 7.00 7.00 - - - -
    > 2 years up to 3 years 6.00 6.00 - - - -
    > 3 yrs. upto 5 yrs. - - - - - -
    > 5 yrs. upto 10 yrs. - - - - - -
  • Fixed Deposits (Non-Callable):
    Baroda Advantage Fixed Deposit (Domestic, NRO & NRE) Accounts, ROI in % (Minimum Single Deposit ₹15.01 Lac & below ₹2 Crores) [Fresh & Renewal] - (w.e.f. 12-05-2023)
    Tenors General/NRE/NRO Senior Citizen
    1 Years 7.00 7.50*
    Above 1 Years to 400 days 7.00 7.50*
    Above 400 days and upto 2 Years 7.00 7.50*
    Above 2 Years and upto 3 Years 7.30 7.80*
    Above 3 Years and upto 5 Years 6.75 7.40#
    Above 5 Years and upto 10 Years 6.75 7.75***
    399 Days (Baroda Tiranga Plus Deposit Scheme)*** 7.40## 7.90*

    Notes:

    (* incl. additional ROI 0.50%, # incl. additional ROI of 0.50+0.15, *** incl. additional ROI of 0.50%+0.50%,## additional ROI for non-callable deposit under Tiranga Plus (399 days) reduced from 0.25% to 0.15 %)

    Baroda Advantage Fixed Deposit (Domestic) Accounts, ROI in % (Deposit amount: Rs. 2 Cr. and above)

    Non-Callable Bulk deposits of Rs.2.00 crore and above will also have additional interest upto 10 bps over the applicable rate of interest for Normal Bulk Deposits (callable) as per the maturity period of deposits as decided by The Treasury Department, BCC

  • Domestic Term Deposits (Other than NRE/NRO) ₹ 2.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f 04.09.2023)
    Tenors ROI
    1 Year 7.55
    Above 1Y to 15M 6.35
    Above 15M to 2Y 6.35
    Above 2Y to 3Y 6.10
    Above 3Y to 5Y 5.35
    Above 5Y and upto 10Y 5.10

    Note:

    • No Additional ROI for Non-Callable is provided to NRE / NRO deposits of Rs. 2.00 Crores & Above as per existing guideline.
    • Above rates will not be loaded with any other type of additional rate of interest (like Sr. Citizen, Army / Naval Groups, Staff etc.).
  • Domestic NRE/NRO Term Deposits ₹ 2.00 Crores to ₹ 10.00 Crores [Fresh & Renewal] ROI in % - (w.e.f 04.09.2023)
    Tenors ROI
    1 Year 7.45
    Above 1Y to 15M 6.25
    Above 15M to 2Y 6.25
    Above 2Y to 3Y 6.00
    Above 3Y to 5Y 5.25
    Above 5Y and upto 10Y 5.00

    Note:

    • No Additional ROI for Non-Callable is provided to NRE / NRO deposits of Rs. 2.00 Crores & Above as per existing guideline.
    • Above rates will not be loaded with any other type of additional rate of interest (like Sr. Citizen, Army / Naval Groups, Staff etc.).
  • Baroda Advantage Fixed Deposit (Domestic) Accounts of Above Rs. 10 crores to upto Rs.1000 Crores, ROI in % - (w.e.f. 07-08-2023)
    Tenors Above Rs. 10 Cr.
    to upto Rs. 25 Cr.
    		Above Rs. 25 Cr.
    to upto Rs. 50 Cr.
    		Above Rs. 50 Cr.
    to upto Rs. 100 Cr.
    		Above Rs. 100 Cr.
    to upto Rs 500 Cr.
    		Above Rs. 500 Cr.
    to upto Rs 1000 Cr.
    		Above Rs. 1000 Cr.
    1 year 7.55 7.55 7.55 7.55 7.55 7.55
    Above 1 Years and upto 2 Years 7.10 7.10 7.10 7.10 7.10 7.10
    Above 2 Years and upto 3 Years 6.10 6.10 6.10 6.10 6.10 6.10
    Above 3 Years and upto 5 Years 5.35 5.35 5.35 5.35 5.35 5.35
    Above 5 Years and upto 10 Years - - - - - -
  • Fixed Deposits (Tax Saving):
    Baroda Tax Savings Fixed Deposit, ROI in % [Fresh & Renewal] - (w.e.f. 12-05-2023)
    Tenors For General Public RTD ROI (%) Senior Citizen RTD ROI (%)*
    For 5 years 6.50 7.15 #
    Above 5 years to up to 10 years 6.50 7.50***

    (# incl. additional ROI of 0.50+0.15,*** incl. additional ROI of 0.50%+0.50%)

    Note:

    • Sr.Citizen Rate is applicable only for "Resident Indian Sr. Citizen", Resident Staff & Senior Citizen Retired resident staff as per Deposit Policy.
    • Premature withdrawal not allowed before completion of 5Y except in case of Death of the customer.
  • FCNR(B) - Deposits:
    Foreign Currency Non-resident Deposit - FCNR(B) - Deposits w.e.f. 16th September, 2023 . The rates shall be effective up to 15th October, 2023. (Rates are subject to change as per Bank’s discretion)
    Maturity Period USD GBP EUR AUD CAD
    1 Yr. to less than 2 yrs. 5.00
    (5.00)     		4.25
    (4.25)     		1.50
    (1.50)     		3.60
    (3.60)     		4.30
    (4.30)
    2 Yrs. to less than 3 yrs. 3.95
    (3.95)     		2.35
    (2.35)     		1.50
    (1.50)     		3.50
    (3.50)     		4.10
    (4.10)
    3 Yrs. to less than 4 yrs. 3.80
    (3.80)     		2.45
    (2.45)     		1.50
    (1.50)     		3.00
    (3.00)     		3.85
    (3.85)
    4 Yrs. to less than 5 yrs. 3.85
    (3.85)     		2.45
    (2.45)     		1.50
    (1.50)     		3.00
    (3.00)     		3.70
    (3.70)
    5 Years 3.90
    (3.90)     		2.45
    (2.45)     		1.50
    (1.50)     		3.00
    (3.00)     		3.60
    (3.60)

    (Figures in bracket indicate rate of interest before revision)


    The above revised rates will be applicable for fresh and existing FCNR (B) deposits which are renewed on maturity.

    Please note that no additional interest is permitted to Senior Citizen and Staff.

    Premature withdrawal of FCNR (B) deposit:

    • The rate of interest applicable in the case of FCNR (B) deposits will be one 1% less than the actual interest payable for the period for which it has run prevailing on the date of issue of receipt or on the date when the depositor seeks premature withdrawal, whichever is lower, provided the deposit has run for a minimum period of one year.
    • No interest will be payable on premature withdrawal of deposit within twelve months from the date of deposit.

    Note :

    • The above interest rates are applicable only for FCNR deposits of amount up to USD 5 Million (or its equivalent in other currencies).
    • For FCNR deposit of above USD 5 Million (or its equivalent in other currencies) please contact base branch.
  • SB Deposits:
    Slab wise Revised Rate of interest on SB Deposits, ROI in % - (w.e.f 14-11-2022)
    Present SB Interest Rate Slab on O/s Balance Interest Rates
    Upto Rs. 1.00 lakh 2.75
    Above Rs 1.00 Lakh to less than Rs. 10 Crores 2.75
    Rs. 10 Crores and above to less than Rs. 50 Crores 2.75
    Rs. 50 Crores and above to less than Rs. 100 Crores 3.00
    Rs.100 Crore and above to less than Rs.200 Crores 3.00
    Rs 200 crores and above to less than Rs 500 crores 3.05
    Rs 500 crores and above to less than Rs 1,000 crores 3.35
    Rs 1,000 crores and above 3.35
    • Notes:
    • Capital Gain Account Scheme, 1988:

      For all Deposits under Capital Gain Accounts Scheme, 1988, interest rate will be applicable as per normal time & period. It will also not be in order to offer higher/differential rate of interest on deposits received under the Capital Gains Accounts Scheme, 1988.

    • Premature withdrawal of Deposits:

      As per Bank's extent guidelines applicable for Retail Term Deposits as per latest Deposit Policy Guidelines or any subsequent modifications in the same.

  • Interest Payment:
    • In terms of Reserve Bank of India directives, interest shall be calculated at quarterly compounding intervals on Term Deposits and paid at the rate decided by the Bank depending upon the period of deposits. In case of Monthly Deposit Scheme, the interest shall be calculated for the quarter on compounding basis and paid monthly at discounted value. The interest on Term deposits is calculated by the Bank in accordance with the formulae and conventions advised by Indian Banks' Association.

      • Accordingly Bank has adopted following methodology.

    • “In all cases of Domestic Term Deposits ( period of deposit more than a year) where the terminal quarter is incomplete, interest should be calculated for complete quarter and the actual number of days, reckoning the year 365/366 days viz the calculation of interest on such deposits should be in order of completed quarters and days.”
      1. For Deposits of 2 Quarters and above, interest is calculated in quarterly compounded for complete quarters and where the terminal quarter incomplete, interest is calculated proportionately for the actual no of days reckoning the year 365/366 days.
      2. The Maturity Amount mentioned in the receipt is calculated without giving TDS effect. While calculating interest for half year(Quarterly compounded), the interest calculated for previous half year (quarterly compounded) minus TDS will be added to principal amount for calculating interest for current Half Year.
      3. For Short Deposits of less than 2 quarters but more than 1 quarter simple interest will be paid for complete quarter and plus interest for remaining days reckoning the year 365-366 days( without compound effect).
      4. For short deposits of less than one quarter interest is calculated proportionately for actual number for days reckoning the year 365-366 days.
    • The interest on FCNR deposits shall be paid at the rates calculated in accordance with the basis prescribed by the Reserve Bank of India (RBI) from time to time for various maturities. The interest on FCNR deposits shall be paid on the basis of 360 days to a year and shall be calculated at intervals of 180 days each.
    • Deduction of Income tax at source from payment of interest on time deposits (section 194A of income tax act 1961) w.e.f 1st July 1995

      • Income Tax is to be deducted in cases where the total interest paid or credited on all time deposits in the name of a depositor with Bank as a whole, whether singly or jointly (as first named person) exceeds the specified limit per financial year as under income tax act 1961, Tax is to be deducted either at the time of credit to the account or payment of interest to the depositor whichever is earlier subject to change in limits of interest eligible for tax limit from time to time.

      In case the depositor submits following Form before end of April every year, no tax may be deducted.

      1. Non-corporate customers other than Senior Citizens - Form No.15G along with PAN (w.e.f. 1st April 2010).
      2. Senior Citizens i.e. individuals of the age of -60- years or more - Form No.15H along with PAN (w.e.f. 1st April 2010) w.e.f. 1st April 2010 I.T. Department has made it mandatory to quote Permanent Account No. (PAN) by deductees in all cases where TDS is applicable, failure of which would attract the TDS at a higher rate of 20% (against normal rate of 10%) or normal rate whichever is higher. Further it has also been made compulsory to mention PAN on form No.15G / 15H w.e.f. 1st April 2010.
      3. The Bank will issue a system generated tax deduction certificate (TDS Certificate) for the amount of tax deducted on quarterly basis.
    • Interest earned/accrued on NRE & FCNR Term Deposits is tax free in India under the relevant provisions of Income Tax Act in India and hence no tax at source is deductible in respect of these deposits. “In case of NRO deposits” The depositor can claim the benefit of reduced rates of tax under Double Tax Avoidance Agreement (DTAA), which India has with the governments of various countries, by submitting the documents prescribed by the Bank at the beginning of every financial year.

      • However, Bank has statutory obligation to deduct tax at source on any interest paid / payable on NRO Term Deposits at the specified rates. If PAN is submitted with a declaration applicable under Double Tax Avoidance Treaty - TDS is deducted @ applicable rate for the country of residence of the customer.

      1. If PAN is submitted without declaration - TDS is deducted @30%
      2. If declaration is submitted without PAN - TDS @normal rate or 20% whichever is higher.
      3. If PAN and declaration is not submitted - TDS @30%
    • All interest payments will be rounded off to the nearest rupee.
    • The Term Deposit account holders at the time of placing their deposits can give instructions with regard to closure of Deposit account or renewal of deposit for further period on the date of maturity. In absence of such mandate, the Bank will automatically renew the deposit as under.
      1. If Deposit is placed for more than one year it will be automatically renewed for one year at the prevailing rate on due date.
      2. If Deposit is placed for less than one year it will be automatically renewed for same period at the prevailing rate on due date.

      In case, the customer wishes to make changes in the tenure or wants premature proceeds of the Term deposit, the same is allowed at the written request of the customer. In case of deposits under callable scheme premature withdrawal of bulk deposit is done as per Bank’s discretion.

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