Mumbai: Leading public sector bank, Bank of Baroda has introduced a unique liquid fixed deposit scheme. The Bob Liquid Fixed Deposits combines the benefits of earning higher returns from FDs with the convenience of easy liquidity associated with a Savings Account. It gives depositors the flexibility of a partial withdrawal facility without closing the entire FD.
Bank of Baroda’s Bob Liquid FD is particularly suited for individuals looking to lock in their funds for a longer duration for higher returns while balancing saving for long-term goals and maintaining the flexibility to address unforeseen expenses.
1) Minimum Deposit Amount: Rs 5,000 (and in multiples of Rs 1,000/ thereafter)
2)Maximum Deposit Amount: No Upper Limit
3)Minimum Duration: 12 Months
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4)Maximum Duration: 60 Months
5)Interest Rate: As per prevailing Interest Rates on Term Deposits as decided by the Bank from time to time
6)Premature Payment/Partial Withdrawal Facility: Allowed, in multiples of Rs 1,000/-, as many times as required during the tenure of the FDPre-payment Penalty:
7) No penalty is levied for premature payments in term deposits up to Rs. 5.00 lakh that have been in place for a minimum of 12 months.
8)Fixed Deposits below Rs 1 crore—A penalty of 1% from the applicable interest rate for the completed period or the contracted rate,whichever is lower.
9) Fixed Deposit of Rs 1 crore and above – Penalty of 1.5% from the applicable interest rate for the completed period or the contracted rate,whichever is lower. Bob Liquid FD can be easily opened through the Bank’s digital channels, including the Bob World app and Internet Banking, and by visiting any branch.