Enjoy Banking on the Go.
Download Mobile Banking App

Recurring Deposit

Small Savings Today for
Bigger Happiness Tomorrow

Baroda Recurring Deposits Account

Recurring Deposit

Invest a little each month in a recurring deposit account, and watch your savings grow.

With a recurring deposit or RD account, you make monthly deposits for a fixed period of time and earn interest on your account balance. On maturity of your recurring deposit, you will receive your principal and interest.

Bank of Baroda offers attractive interest rates on recurring deposit schemes.

  • Open a recurring deposit account with Bank of Baroda and create a habit of saving regularly. The monthly instalments on RD accounts especially, encourage new investors to set aside money throughout the year.
  • The key benefit of recurring deposit accounts is that you receive better returns on your investment compared to other financial instruments. This is because recurring deposit schemes have higher rates of interest as compared to savings accounts.
  • You can choose from a variety of recurring deposit accounts to suit your financial outlook and investment goals, since we offer recurring deposit schemes with varying principal amounts, monthly instalments and time periods. The tenure on our RD accounts can range from 6 months to 120 months. There is no upper limit on the amount of money you can invest in recurring deposit schemes.
  • Additionally, Bank of Baroda offers loan and overdraft facility up to 95% of the recurring deposit amount, which can help you in times of an urgent financial need.
  • All individuals are eligible to open recurring deposit accounts at Bank of Baroda. The minimum monthly deposit on RD accounts is Rs.50 and multiples of Rs.50 in rural and semi-urban branches. In urban and metro branches, Rs.100 and multiples of Rs.100 are the lower limits on recurring deposit accounts. There is no upper limit on the monthly deposits in RD accounts.
  • The tenure or time period of recurring deposit accounts range from 6 months to 120 months, which is determined at the time of opening the RD account. However, you can opt for premature withdrawal on your recurring deposit account, in case you need funds urgently. Closing your recurring deposit early may be subject to a penalty.
  • We offer attractive interest rates on recurring deposits, which are determined on the basis of the maturity period or tenure of the deposit. The interest on recurring deposit accounts is compounded quarterly and paid on maturity of the RD.
  • Nomination facility is available on recurring deposit accounts at Bank of Baroda.
    • Minimum amount required to open an account - Rs. 50/- (rural and semi-urban) and Rs. 100/- (Urban and Metro).
    • Subsequent deposits in multiples of - Rs. 50/- (rural and semi-urban) and Rs. 100/- (Urban and Metro).
    • Deposit Tenure:
      • Minimum - 6 months.
      • Maximum - 120 months.
    • Interest will be compounded quarterly and paid on maturity.(Click here for current interest rates).
    • On pre-matured withdrawal of your deposit amount, interest will be calculated at 1% below the rate applicable for the period of deposits.
    • Documents required:
      • Passport size photograph
      • Proof of residence
      • An introduction as per Bank's norms
    • Recurring Deposit Rules PDF file that opens in new window. To know how to open PDF file refer Help section located at bottom of the site. (75 KB)


All Individuals and Non-individuals

Amount of Deposit

  • Minimum
    • Rs.50 and in multiples of Rs.50 (rural & semi-urban branch)
    • Rs.100 and in multiples of Rs.100 (urban & metro branch)
  • Maximum
    • No upper limit

Tenure of Deposit

Minimum : 06 Months

Maximum : 120 Months

Installment Frequency


Rate of interest

As per the maturity period of the deposit

Payment of Interest

Interest will be compounded quarterly and paid on maturity

Premature Closure

Interest should be paid after deducting penalty of 1% from such applicable rate or the contracted rate whichever is lower in the cases which are subject to charging penalty

Availability of Loan/ Overdraft

Loan / overdraft facility is permitted up to 95% of outstanding balance at interest rate as per Bank’s guidelines issued from time to time.

Maturity of Deposit

One month after payment of last installment OR Due date, whichever is later

Penalty on delayed Payment of Installments

Irrespective of tenure uniform rate of ` Re.1/- per ` 100/- per month

  • Rate of Interest to Senior Citizen: An Additional interest @ 0.50 % is payable for deposits below Rs.1 crore only.
  • Payment of Installments: The instalment for any calendar month must be paid on or before the last working day of that month. In case of delay in payment of any instalment, penalty shall be charged which is at present, `.1.00 + GSTfor every `.100/- p.m., fraction of a number being treated as a full month for the purpose of calculating such penalty.

    Instalments paid during the course of the calendar month in which it is due, shall be deemed as payment made in time.

    Alternatively the depositor may continue the account till maturity without regularising it (i.e. without paying the amount of instalments in arrears plus penal interest). In such cases deposits be treated on par with Yatha Shakti Jama Yojana for the purpose of calculation of interest.

  • Nomination Facility: Nomination facility will be available
  • Tax Deduction at Source: TDS will be deducted as per income Tax rules. No TDS will be deducted if a person submits form 15G/ 15H as applicable.
  • Method of Calculation of Interest on or before Maturity: “In all cases of domestic term deposits (Period of deposit less than a year) where the terminal quarter is incomplete, interest should be calculated for complete quarter and for the actual number of days, reckoning the year 365/366 days, i.e. the calculation of interest on such deposits should be in order of completed quarters and days.”
  • TDS Certificate: TDS certificate will be provided to all customers.
  • Advance against Deposits: This facility is not available to Minor account in single name and HUF. For advances taken against deposits, if the depositor does not settle the account within 90 days, Bank has the right to settle the overdraft account against his term deposit.
  • Interest Certificate available at request of customer
  • Customer will be provided passbook for the account.
  • Recurring Deposits can be transferred from one branch to other branch at the request of the customer.
  • Mode of Payment: Maturity proceeds are credited SB/ CA account of the customer. In cases where there are no operative accounts of the customer, maturity proceeds can be given in cash below Rs.20,000 above which DD/ Pay Order will be issued.
  • Minor Accounts can be opened for individuals above 10 years subject to maximum cap of Rs.1,00,000/-
  • A regular RD can be converted to Baroda Yatha Shakti Jama Yojana Scheme.

Apply Now

Please fill in the below details.

( * ) Marked fields are mandatory

All fields are mandatory

Name *
Email *
Mobile *
State *
City *
Captcha Code *

Last Visited Page

Back to Top